Clearfield, Inc. - CLFD STOCK NEWS

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.

Clearfield, Inc. (NASDAQ:CLFD) introduces a new 48-port adapter configuration for its Clearview Blue Cassette, addressing the issue of crowded rack space for fiber network providers. This innovative option uses CS Connector plates, allowing service providers to increase scalability and meet rising data demands effectively. The configuration promises 33% more density than traditional setups, enhancing connectivity in various deployment environments. Clearfield’s solutions are pivotal in optimizing fiber management for communication networks.

Clearfield reported a strong fiscal Q1 2021, with revenue of $27.1 million, reflecting a 40% increase year-over-year. The surge was driven by a 71% growth in Community Broadband revenue and 30% growth in MSO revenue. Net income soared 531% to $3.2 million, or $0.23 per diluted share, from $0.5 million, or $0.04 per share in Q1 2020. The company achieved a gross profit margin of 42.0%, the highest in over two years. Backlog grew by 55% to $8.9 million. Clearfield's strong demand from the COVID-19 pandemic positions it for continued growth.

Clearfield, Inc. (NASDAQ: CLFD) will host a conference call on January 28, 2021, at 5:00 p.m. ET to discuss its fiscal Q1 results for the period ending December 31, 2020. Financial results will be provided via a press release and a FieldReport with insights into performance. The call will feature President and CEO Cheri Beranek and CFO Dan Herzog, followed by a Q&A session. Participants can join by dialing the provided numbers, and a replay will be available until February 11, 2021.

Clearfield achieved record annual revenue of $93.1 million for the fiscal year 2020, marking a 9% increase from 2019. This growth was fueled by a 48% rise in MSO revenue, 18% in National Carrier revenue, and 10% in Community Broadband revenue. The company's gross profit margin for Q4 was 41.2%, leading to a net income of $7.3 million or $0.53 per diluted share, up from $4.6 million in 2019. Clearfield's backlog increased by 153% to $10.7 million, driven by strong operational effectiveness and favorable product mix.

Clearfield, Inc. (NASDAQ: CLFD) will host a conference call on November 4, 2020, at 5:00 p.m. ET to discuss its financial results for the fiscal fourth quarter and full year ending September 30, 2020. Financial results will be released prior to the call and will include a FieldReport providing insights on the company's performance. The call will feature President and CEO Cheri Beranek and CFO Dan Herzog, with a Q&A session following the presentation. A replay will be available after the event.

Clearfield, Inc. (NASDAQ:CLFD) has launched the new FieldSmart Fiber Delivery Point (FDP) Indoor 288-Port Wall Box to enhance fiber deployment for service providers. This innovative solution reduces installation time and labor costs by consolidating a four-step installation process into one. The wall box accommodates up to 288 ports, featuring easy access and robust protection for fiber terminations. With increasing demand for reliable broadband, particularly in multifamily units, the new product aims to support rapid fiber expansion amidst evolving market needs.

Clearfield, Inc. (NASDAQ: CLFD) reported record revenue of $26.0 million for Q3 2020, a 19% increase year-over-year, driven by a 48% surge in MSO revenue and a 22% rise in Community Broadband revenue. Gross profit also hit a record at $10.8 million, with a margin of 41.5%. Despite lower international sales, operational efficiencies and product innovations contributed to this growth. Year-to-date revenues rose 8% to $65.8 million, and net income reached $4.2 million, or $0.31 per diluted share. The company maintains a positive outlook for fiscal 2021, bolstered by strong demand amid COVID-19.