Clearfield, Inc. Reports Unaudited Earnings Results for the First Quarter Ended December 31, 2016; Provides Revenue Guidance for the Fiscal Year 2017
January 26, 2017 at 06:30 pm IST
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Clearfield, Inc. reported unaudited earnings results for the first quarter ended December 31, 2016. For the quarter, the company's revenues were $18,266,162 compared with $15,689,715 a year ago. The improvement was primarily due to increased deployments by the Company's wireline and wireless customers in both domestic and international markets. Income from operations was $1,191,196 compared with $1,979,781 a year ago. Income before income taxes was $1,243,930 compared with $2,013,320 a year ago. Net income was $876,930 or $0.06 per basic and diluted share compared with $1,487,454 or $0.11 per basic and diluted share a year ago. Net cash used in operating activities was $605,304 compared with net cash provided by operating activities of $2,258,163 a year ago. Purchases of property, plant and equipment and intangible assets were $529,302 compared with $226,710 a year ago.
The company is maintaining 15%+ revenue growth outlook for fiscal 2017.
Clearfield, Inc. designs, manufactures and distributes fiber protection, fiber management and fiber delivery solutions to enable fiber-fed deployment throughout the broadband service provider space primarily across North America. It has two segments: the Clearfield Operating (Clearfield) and the Nestor Cables Operating (Nestor). Clearfield segment is focused on providing fiber management, fiber protection and fiber delivery products that accelerate the turn-up of fiber-based networks in residential homes, businesses and network infrastructure on the wireline and wireless access network. It offers a portfolio of fiber products that allow service providers to build fiber networks faster, meet service delivery demands, and align build costs with take rates. Nestor segment manufactures fiber optic and copper telecommunication cables and equipment, which it distributes to telecommunication operators, network owners, electric companies, building contractors and industrial companies.
CLEARFIELD, INC. 
