Clearfield, Inc. - CLFD STOCK NEWS

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.

Clearfield, Inc. (NASDAQ: CLFD) has launched a new small form factor FLATdrop cable aimed at enhancing fiber deployment for communication service providers. This innovative cable offers a compact, cost-effective solution with a one-third space savings in coil diameter, designed for both buried and aerial scenarios. The FieldShield® FLATdrop allows for flexible and environmentally friendly installations while easing inventory storage. Available for shipment in October 2021, this product also features a peelable design for tool-less stripping, making it easier for contractors to manage.

Clearfield, Inc. (NASDAQ: CLFD) will participate in several upcoming virtual financial conferences in September 2021. Key events include the 10th Annual Gateway Conference on September 8 at 3:00 p.m. ET, and the 2021 Colliers Institutional Investor Conference with one-on-one meetings on September 9. Additionally, the D.A. Davidson 20th Annual Software and Internet Conference will feature a panel discussion on September 9 at 2:00 p.m. ET. Clearfield specializes in fiber optic management for communication networks, deploying over one million fiber ports annually.

Clearfield, Inc. (NASDAQ: CLFD) launched the FieldSmart FiberFlex 3000, an advanced outdoor cabinet designed for versatile fiber management. This cabinet supports various network applications, including Smart City IoT and 5G, by housing active equipment and streamlining fiber connections. It features a modular design with options for power backup and extensive fiber distribution capabilities. The launch addresses growing demand for efficient fiber deployments, enabling service providers to enhance network performance and reach more subscribers.

Clearfield (NASDAQ:CLFD) announces its partnership with Blue Ridge Communications to supply fiber management solutions for multi-dwelling units (MDUs). Blue Ridge has seen a surge in demand for fiber broadband, leading to a 180% increase in installs during peak months of the pandemic. Clearfield's FieldShield and YOURx products enhance deployment speed, helping technicians deliver gigabit services efficiently. This collaboration aims to streamline fiber installations and support high-value residential services as the market for fiber-fed MDUs grows.

Clearfield, Inc (NASDAQ:CLFD) announced an expansion of its manufacturing capacity in Tijuana, Mexico, by leasing a 319,000-square-foot facility set to commence operations in early 2022. This expansion aims to support anticipated demand growth and will more than triple Clearfield's manufacturing presence in the region. The move is expected to reduce manufacturing costs and enhance product availability and delivery times. Clearfield's investments reflect its commitment to meeting the needs of the broadband market and improving partnerships with suppliers.

Clearfield (NASDAQ:CLFD) has launched the StreetSmart Collector Box, designed for high-density environments like multi-dwelling and multi-tenant units. This product aims to streamline fiber delivery by addressing congestion in installations, reducing cable management time, and accelerating deployment. With over 14,000 multifamily buildings completed in 2020, demand for fiber services is increasing. The Collector Box consolidates vertical cable routing, enhancing efficiency and enabling building owners to offer valuable services. The product is Telcordia GR-771 compliant and will be showcased at Fiber Connect from July 26-28 in Nashville, TN.

Clearfield reported a significant financial performance for Q3 FY2021 with a 49% increase in net sales to $38.7 million, driven mainly by a 64% growth in Community Broadband revenue. The company's net income surged 104% to $6.1 million, or $0.44 per diluted share. A record backlog of $40.3 million represents a 377% year-over-year increase. Clearfield has raised its fiscal 2021 net sales guidance to between $130 million to $135 million, indicating strong market demand. Despite supply chain challenges, the company anticipates continued growth, projecting annual net sales of $150 million to $160 million for FY2022.