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 reported a record revenue of $51 million for Q1 2022, marking an 89% increase year-over-year, primarily driven by an 81% growth in Community Broadband revenue. The company's net income reached $10.4 million, or $0.75 per diluted share, a 228% increase from the previous year. The backlog surged to $101 million, up 53% sequentially. Clearfield has increased its fiscal 2022 net sales guidance to $176 million to $183 million, indicating a growth of 25% to 30%. A reinstated share repurchase program was also announced, increasing the authorized amount to $22 million.
Clearfield, Inc. (NASDAQ: CLFD) will host a conference call on January 27, 2022, at 5:00 p.m. ET to discuss its financial results for the first quarter ending December 31, 2021. A press release and FieldReport will be issued prior to the call, providing insights into financial and operational performance. The call will feature President and CEO Cheri Beranek and CFO Dan Herzog, followed by a Q&A session. The conference will be accessible via live webcast and available for replay until February 10, 2022. For more details, visit the company's website.
Clearfield, Inc. (NASDAQ: CLFD) will participate in the 24th Annual Needham Virtual Growth Conference from January 10-14, 2022. The company’s President and CEO, Cheri Beranek, is scheduled to present on January 11 at 5:00 p.m. Eastern Time. The presentation will be webcast and available for replay. Clearfield specializes in fiber management solutions for communication service providers and deploys over a million fiber ports annually.
For inquiries or to schedule meetings, contact their investor relations team at CLFD@gatewayir.com.
Clearfield, Inc. (NASDAQ: CLFD) announced that Kevin Morgan has been elected as the Chair of the Fiber Broadband Association's Board for a one-year term starting January 1, 2022. Morgan's extensive experience in telecom will aid the industry in leveraging federal and state funding for broadband infrastructure growth. He aims to enhance the conversation regarding fiber's economic and social benefits. Clearfield specializes in fiber optic management for communication networks and has deployed over a million fiber ports annually.
Clearfield, Inc. (NASDAQ: CLFD) has expanded its board of directors by electing industry experts Carol Wirsbinski and Walter Jones, Jr. as members, effective December 3, 2021. This addition brings the total number of directors to eight, with seven being independent. Wirsbinski, with over 30 years in telecommunications, has a history of transformational growth, particularly in community broadband. Jones adds nearly three decades of experience from Verizon, focusing on fiber network transformations. Their expertise is expected to enhance Clearfield's growth strategy amid ongoing developments in the broadband sector.
Clearfield, Inc. (NASDAQ: CLFD) will present at the Needham Virtual Security, Networking, & Communications Conference on November 16, 2021, at 1:30 p.m. ET. President and CEO Cheri Beranek is scheduled to deliver the presentation and engage in one-on-one meetings with investors and analysts. Clearfield specializes in fiber management for communication service providers, deploying over a million fiber ports annually. The company focuses on serving traditional and alternative carriers, MSO/Cable TV companies, and various markets, including utilities and military.
Clearfield, Inc. reports record annual net sales of $140.8 million, a 51% increase from the previous year, driven by a 66% growth in Community Broadband revenue. The company's backlog surged 522% to $66.4 million. Fiscal 2021 net income was $20.3 million or $1.47 per diluted share, reflecting a 179% increase. Clearfield raised its FY22 net sales guidance to $162 million to $169 million, anticipating 15%-20% growth. The success is attributed to strategic operational improvements and increasing demand for fiber broadband.
Clearfield, Inc. (NASDAQ: CLFD) will hold a conference call on November 4, 2021, at 5:00 p.m. ET to discuss its financial results for the fiscal fourth quarter and year ending September 30, 2021. A press release will precede the call, which will be accompanied by a FieldReport providing insights into financial and operational performance. Participants can join by phone or listen to a live webcast, with a replay available until November 18, 2021. Clearfield specializes in fiber management solutions for communication service providers, deploying over a million fiber ports annually.
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