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) 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.
Clearfield, Inc. (NASDAQ: CLFD) announced a conference call on July 22, 2021, at 5:00 p.m. ET, to discuss its financial results for Q3 FY2021, ending June 30, 2021. Financial results will be detailed in a press release and a supplementary FieldReport to be made available on the company’s investor relations website. The presentation will be hosted by President and CEO Cheri Beranek and CFO Dan Herzog, followed by a Q&A session. A replay of the conference will be accessible after the call until August 5, 2021.
Clearfield, Inc. (NASDAQ: CLFD) announced a strong fiscal Q2 2021 with net sales of $29.7 million, a 45% increase year-over-year. The company projects annual guidance of $120 million to $125 million, indicating 32% growth. Net income surged 387% to $3.6 million, equating to $0.27 per diluted share. Q2 gross profit margin improved to 43.6%, driven by a favorable product mix and operational efficiencies. The backlog has soared 115% to $19.2 million, positioning the company well amidst growing demand for fiber networks. Management is optimistic about future growth in rural broadband markets.
Clearfield, Inc. (NASDAQ: CLFD) will hold a conference call on April 22, 2021, at 5:00 p.m. Eastern time to discuss its fiscal second quarter financial results for the period ending March 31, 2021. A press release and FieldReport will be available before the call, offering insights into financial and operational performance. The call will include a question and answer session led by President and CEO Cheri Beranek and CFO Dan Herzog. Replay options will be available post-call until May 6, 2021.
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