Welcome to our dedicated page for Clearfield news (Ticker: CLFD), a resource for investors and traders seeking the latest updates and insights on Clearfield stock.
Clearfield, Inc. (NASDAQ: CLFD) is at the forefront of fiber optic technology, specializing in designing, manufacturing, and distributing fiber management, protection, and delivery solutions for communication networks. Headquartered in Minneapolis, Minnesota, Clearfield has established itself as a key player in the broadband industry, providing innovative products that facilitate efficient fiber deployment.
Clearfield's product portfolio includes FieldSmart, CraftSmart, and the newly introduced FiberDeep. The FieldSmart fiber management platform is notable for its modular approach, scaling from 1 to 1728 ports, catering to a wide variety of network requirements across inside plant, outside plant, and access networks. These products are complemented by an assortment of passive optical components, connectors, and enclosures.
The CraftSmart enclosure system is the industry's sole field enclosure system specifically optimized for fiber deployment. Meanwhile, FiberDeep patch cords set a new standard in the industry with an insertion loss of just .2db, significantly enhancing performance compared to the industry standard.
Clearfield also offers a comprehensive range of fiber and copper assemblies, meeting the diverse needs of communication networks globally, though the majority of their revenue is derived from the United States. The company operates through two primary segments: the Clearfield segment and Nestor Cables segment.
Clearfield continues to expand its market reach, boasting a strong balance sheet and strategic growth initiatives. Recent developments include a significant share buyback program, reflecting the company's confidence in its market valuation and long-term opportunities.
Latest News:
MINNEAPOLIS, Oct. 26, 2023 – Clearfield announced the release of its financial results for the fourth quarter and fiscal year ending September 30, 2023, on November 9, 2023. The company will host a conference call to discuss the results.
MINNEAPOLIS, Nov. 09, 2023 – Clearfield reported its fourth-quarter results, highlighting challenges yet expressing confidence in the long-term demand for fiber broadband.
MINNEAPOLIS, Feb. 01, 2024 – Clearfield discussed its fiscal first-quarter 2024 results, noting continued industry challenges but reaffirming its commitment to growth.
MINNEAPOLIS, May 02, 2024 – Clearfield reported its second-quarter 2024 results, indicating a gradual market recovery and strategic share repurchases.
Clearfield, Inc. (NASDAQ: CLFD) reported a record revenue of $71 million for Q3 2022, marking an 84% year-over-year growth. The community broadband segment drove 73% growth compared to the previous year. The company achieved net income of $12.7 million ($0.92/share), up 109% from Q3 2021. The quarter-end backlog increased 16% to $157 million. Clearfield raised its 2022 sales guidance to $243-$247 million, reflecting 72%-75% growth year-over-year.
Clearfield, Inc. (NASDAQ: CLFD) has successfully completed its acquisition of Nestor Cables Ltd., a Finnish fiber optic cable solutions manufacturer, for approximately USD $23 million. This acquisition, funded mainly through Clearfield's credit facility, positions Clearfield to enhance its FieldShield product line and meet growing customer demand in North America. Clearfield anticipates the acquisition to be accretive to earnings in fiscal 2023, with plans to expand fiber optic cable production in Mexico leveraging Nestor's expertise.
Clearfield, Inc. (NASDAQ: CLFD) will hold a conference call on July 28, 2022, at 5:00 p.m. ET to discuss its financial results for the third quarter ending June 30, 2022. The call will feature President and CEO Cheri Beranek and CFO Dan Herzog, followed by a Q&A session. Financial results will be shared via a press release and the company’s FieldReport, accessible on their website. A replay of the call will be available from 8:00 p.m. ET on the same day until August 11, 2022.
Clearfield (NASDAQ: CLFD) has announced its agreement to acquire Finnish company Nestor Cables Oy for approximately US $23 million. This strategic move aims to vertically integrate Clearfield’s fiber optic cable supply, enhancing the production of its FieldShield products closer to North American customers. Nestor has been a partner for over a decade, contributing €31.7 million in revenue in 2021. The acquisition is expected to bolster Clearfield's operations with fiber optic production set to begin in Mexico in early 2023. The deal awaits customary regulatory approvals.
Clearfield reported a remarkable 80% year-over-year revenue growth to a record $53 million for the fiscal second quarter 2022, largely driven by a 94% surge in Community Broadband revenue. Their backlog increased 34% sequentially to $136 million, demonstrating strong demand. The company achieved a 43.3% gross profit margin and net income rose 154% to $9.2 million, or $0.66 per diluted share. Additionally, Clearfield raised its net sales guidance for fiscal 2022 to between $204 million and $218 million, indicating year-over-year growth of 45% to 55%.
Clearfield, Inc. (NASDAQ: CLFD) will hold a conference call on April 28, 2022, at 5:00 p.m. ET to discuss its financial results for the second quarter ended March 31, 2022. The results will be shared via a press release and a FieldReport available in the Investor Relations section of the company's website. The call will feature President and CEO Cheri Beranek and CFO Dan Herzog, followed by a Q&A session. The conference will be webcast live with a replay available after the call.
Clearfield, Inc (NASDAQ:CLFD) has introduced its innovative FastPass Fiber Distribution system, which reduces installation time for fiber broadband by 50% through in-cassette splicing. This method allows operators to double the number of homes passed within the same timeframe compared to traditional methods, significantly lowering costs and meeting stringent deployment deadlines linked to federal and state funding. Industry experts emphasize that this competitive advantage is crucial as fiber deployment ramps up, with expectations of surpassing previous deployment levels in the next five years.
Clearfield (NASDAQ: CLFD) has launched its FieldSmart® 96-Port PON Fiber Distribution Hub (FDH) cabinet, optimizing fiber deployment in various environments. This compact design is aimed at enhancing ROI for service providers in rural areas. The cabinet offers up to 12 feeder ports and a maximum of 96 distribution ports, available in multiple configurations. The launch aligns with increasing fiber demand fueled by federal and state funding to improve broadband access. The cabinet will be showcased at the TechAdvantage® Expo and is set for shipment in Spring 2022.
Clearfield, Inc. (NASDAQ: CLFD) has successfully partnered with Utility Telecom to provide fiber connectivity for Nautilus Data Technologies' eco-friendly data center at the Port of Stockton, California. This innovative facility utilizes a zero-impact water cooling system, achieving 1.15 PUE or less, significantly reducing energy-related CO2 emissions. Despite challenges in deploying fiber connectivity to a water-based location, Clearfield's specialized products proved effective. Their continued collaboration with Utility Telecom supports the growing demand for sustainable data solutions, positioning Clearfield as a leader in fiber management.
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