Clearfield Reports Fourth Quarter and Full Year Fiscal 2026 Results
Higher product costs weighed on margins as year-end backlog increased 75% and shipments began against a data center order.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Clearfield (NASDAQ: CLFD) reported fiscal 2026 sales from continuing operations of $151.9 million, up 1% from the prior year. Continuing-operations diluted earnings fell to $0.16 from $0.45, while gross margin declined to 32.0% from 33.7%. Fourth-quarter sales fell 4% to $39.3 million, with a $73,000 continuing-operations net loss.
Year-end backlog reached $43.3 million, up 75% year over year and 106% sequentially. Shipments began against the previously announced $22 million data center order. Clearfield expects fiscal 2027 sales of $195 million to $205 million and net income per share of $0.25 to $0.46. First-quarter guidance calls for sales of $48 million to $52 million and net income or loss per share of $(0.06) to $0.03. Potential supply constraints and evolving tariffs add uncertainty to the outlook. Cash and investments totaled $157 million, with no debt.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 sales are expected at $195 million to $205 million, just over 30% growth at midpoint.
- Moderate pointYear-end backlog reached $43.3 million, up 75% year over year and 106% sequentially.
- Moderate pointFiscal 2026 continuing-operations sales rose 1% to $151.9 million from $150.1 million.
- Moderate pointCash and investments totaled $157 million, with no debt.
- Moderate pointFiscal 2026 consolidated earnings reached $0.14 per diluted share, versus a $0.58 loss in fiscal 2025.
8 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 net income per share is expected at $0.25 to $0.46.
- Minor pointData center shipments began against the previously announced $22 million order.
- Minor point. Forward-looking: it has not happened yet and may not happen.First-quarter fiscal 2027 sales are expected at $48 million to $52 million.
- Minor pointFiscal 2026 discontinued-operations losses narrowed to $337,000 from $3.947 million, excluding impairment.
- Minor pointDiscontinued-operations impairment losses were zero in fiscal 2026, versus $10.413 million in fiscal 2025.
- Minor pointFourth-quarter continuing-operations operating expenses decreased to $13.1 million from $13.3 million a year earlier.
- Minor pointShare repurchases totaled approximately 60,000 shares for $1.8 million during the fourth quarter.
- Minor pointBroadband shipments began to one of the first BEAD-funded deployments in Minnesota.
Negative
- Moderate pointFiscal 2026 continuing-operations net income fell 66% to $2.1 million; diluted earnings declined to $0.16 from $0.45.
- Moderate pointFiscal 2026 gross profit fell 4% to $48.6 million; margin declined to 32.0% from 33.7%.
- Moderate pointFiscal 2026 continuing-operations operating expenses rose 5% to $50.9 million from $48.4 million.
- Moderate pointFourth-quarter continuing-operations sales declined 4% to $39.3 million from $41.1 million.
- Moderate pointFourth-quarter gross profit fell 15% to $12.1 million; margin declined to 30.7% from 34.6%.
- Moderate pointFourth-quarter continuing-operations operating results shifted to a $1.0 million loss from $1.0 million income.
- Moderate pointContinuing-operations operating cash flow declined to $12.621 million from $26.553 million in fiscal 2025.
6 minor points
- Minor pointFiscal 2026 continuing-operations operating results shifted to a $2.4 million loss from $2.1 million income.
- Minor pointFourth-quarter continuing-operations net results shifted to a $73,000 loss from $1.8 million income.
- Minor pointFiscal 2026 net investment income declined to $5.726 million from $6.549 million.
- Minor pointHigher absorbed product costs affected fourth-quarter and full-year gross margins.
- Minor pointMSO market softness partly offset Large Regional segment growth in the quarter and full year.
- Minor point. Forward-looking: it has not happened yet and may not happen.Potential optical fiber, cable and connector supply constraints and evolving tariffs create outlook uncertainty.
News Explained
The CEO’s departure is planned, not completed, and may occur earlier if a successor is appointed.
Clearfield repurchased approximately 60,000 shares for
CEO Cheri Beranek plans to retire effective
Details
Market move: CLFD -6.26% vs previous close. FY2026 earnings report
On Nov 10, the day this news came out, the latest delayed price for CLFD is 6.26% below the previous close. Our momentum scanner has recorded 2 alerts for this stock so far that day. The latest delayed price is $28.30.
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Key Figures
- Full-year net sales
- $151.9 million
- Fiscal 2026; compared with $150.1 million in fiscal 2025
- Full-year gross margin
- 32.0%
- Fiscal 2026; down from 33.7% in fiscal 2025
- Net income from continuing operations
- $2.1 million
- Fiscal 2026; down from $6.3 million in fiscal 2025
- Diluted EPS from continuing operations
- $0.16
- Fiscal 2026; compared with $0.45 in fiscal 2025
- Order backlog
- $43.3 million
- At fiscal 2026 year-end; up 75% from the prior fiscal year-end
- Fiscal 2027 net sales guidance
- $195 million to $205 million
- Full fiscal year
- Fiscal 2027 net income per share guidance
- $0.25 to $0.46
- Full fiscal year
- Fiscal Q1 2027 net income (loss) per share guidance
- $(0.06) to $0.03
- First quarter of fiscal 2027
Historical Context
-
Company said preliminary fiscal 2026 fourth-quarter and full-year results were expected in line with guidance.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
free cash flow financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Fiscal 2026 net sales from continuing operations of
$151.9 million ; Gross margin of32.0% ; Net income from continuing operations per diluted share of$0.16
- Sales order backlog increased
75% to$43.3 million as of the end of fiscal 2026, compared to$24.7 million as of the end of the prior fiscal year
- Began shipments against the previously announced
$22 million data center order, marking a significant milestone in the expansion of our data center business
- Expects full year fiscal 2027 revenue of
$195 million to$205 million , representing just over30% growth from fiscal year 2026 revenue at the midpoint of guidance
MINNEAPOLIS, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Clearfield, Inc. (NASDAQ: CLFD), a leader in fiber connectivity solutions for telecom, data center, and network infrastructure environments, reported results for the fiscal fourth quarter and full year 2026. Additional commentary is provided in a letter to shareholders available in the Investor Relations section of the Company’s website.
| Fiscal Q4 2026 Financial Summary | |||||||||||||||
| (in millions, except per share data and percentages) | Q4 2026 | vs. Q4 2025 | Change ($) | Change (%) | |||||||||||
| Net Sales from Continuing Operations | $ | 39.3 | $ | 41.1 | $ | (1.7 | ) | -4 | % | ||||||
| Gross Profit ($) from Continuing Operations | $ | 12.1 | $ | 14.2 | $ | (2.2 | ) | -15 | % | ||||||
| Gross Profit (%) from Continuing Operations | 30.7 | % | 34.6 | % | -4.0 | % | -11 | % | |||||||
| (Loss) Income from Operations from Continuing Operations | $ | (1.0 | ) | $ | 1.0 | $ | (2.0 | ) | -210 | % | |||||
| Income Tax Expense from Continuing Operations | $ | 0.5 | $ | 0.8 | $ | (0.3 | ) | -40 | % | ||||||
| Net (Loss) Income from Continuing Operations | $ | (0.1 | ) | $ | 1.8 | $ | (1.9 | ) | -104 | % | |||||
| Net Income (Loss) per Diluted Share from Continuing Operations | $ | 0.00 | $ | 0.13 | $ | (0.13 | ) | -100 | % | ||||||
| Net Income (Loss) from Discontinued Operations, net of tax | $ | 0.00 | $ | (0.5 | ) | $ | 0.5 | 100 | % | ||||||
| Income (Loss) from Impairment of Discontinued Operations, net of tax | $ | 0.00 | $ | (10.4 | ) | $ | 10.4 | 100 | % | ||||||
| Net Income (Loss) per Diluted Share from Discontinued Operations | $ | 0.00 | $ | (0.78 | ) | $ | 0.78 | 100 | % | ||||||
| Consolidated Net Income (Loss) Per Diluted Share | $ | 0.00 | $ | (0.65 | ) | $ | 0.65 | 100 | % | ||||||
| Fiscal Q4 YTD 2026 Financial Summary | |||||||||||||||
| (in millions, except per share data and percentages) | YTD Q4 2026 | vs. YTD Q4 2025 | Change ($) | Change (%) | |||||||||||
| Net Sales from Continuing Operations | $ | 151.9 | $ | 150.1 | $ | 1.8 | 1 | % | |||||||
| Gross Profit ($) from Continuing Operations | $ | 48.6 | $ | 50.5 | $ | (2.0 | ) | -4 | % | ||||||
| Gross Profit (%) from Continuing Operations | 32.0 | % | 33.7 | % | -1.7 | % | -5 | % | |||||||
| (Loss) Income from Operations from Continuing Operations | $ | (2.4 | ) | $ | 2.1 | $ | (4.5 | ) | -212 | % | |||||
| Income Tax Expense from Continuing Operations | $ | 1.2 | $ | 2.4 | $ | (1.1 | ) | -48 | % | ||||||
| Net Income from Continuing Operations | $ | 2.1 | $ | 6.3 | $ | (4.2 | ) | -66 | % | ||||||
| Net Income per Diluted Share from Continuing Operations | $ | 0.16 | $ | 0.45 | $ | (0.29 | ) | -64 | % | ||||||
| Net Loss from Discontinued Operations, net of tax | $ | (0.3 | ) | $ | (3.9 | ) | $ | 3.6 | 91 | % | |||||
| Income (Loss) from Impairment of Discontinued Operations, net of tax | $ | 0.00 | $ | (10.4 | ) | $ | 10.4 | 100 | % | ||||||
| Net Loss per Diluted Share from Discontinued Operations | $ | (0.02 | ) | $ | (1.03 | ) | $ | 1.01 | 98 | % | |||||
| Consolidated Net Income (Loss) per Diluted Share | $ | 0.14 | $ | (0.58 | ) | $ | 0.72 | 124 | % | ||||||
Management Commentary
“Fiscal 2026 represented a pivotal transition year for Clearfield. We continued serving our established broadband customers while expanding our fiber management expertise to the rapidly growing AI infrastructure market. This last quarter, we have seen a positive sign in the Broadband market as Clearfield announced shipments to one of the first BEAD funded deployments here in Minnesota as well as the beginning of shipments to our first significant data center customer site. We believe this demonstrates the work that has been accomplished to date and the significant growth we see in front of us,” said Cheri Beranek, President and Chief Executive Officer. “Since co-founding Clearfield in 2008, it has been a privilege to help build the Company alongside our dedicated team. As previously announced, I plan to retire effective March 31, 2027, or earlier upon the appointment of my successor. I will continue as President and CEO Emeritus to support the transition. I am proud of what we have accomplished and confident in Clearfield’s next phase of growth under new leadership.”
“Over the past three fiscal years, we have strengthened our financial position through disciplined balance sheet management, including strong cash generation and thoughtful capital allocation. During that period, we generated approximately
Financial Results for the Three Months Ended September 30, 2026
Net sales from continuing operations for the fourth quarter of fiscal 2026 were
As of September 30, 2026, order backlog (defined as purchase orders received but not yet fulfilled) was
Gross profit margin from continuing operations in the fourth quarter was
Operating expenses from continuing operations for the fourth quarter of fiscal 2026 decreased to
Net loss from continuing operations for the fourth quarter of fiscal 2026 totaled
Financial Results for the Year Ended September 30, 2026
Net sales from continuing operations were
Gross margin from continuing operations decreased from
Operating expenses from continuing operations for fiscal 2026 were
Net income from continuing operations for fiscal 2026 was
Outlook
For fiscal 2027, we expect net sales to be in the range of
The net income (loss) per share ranges are based on the number of shares outstanding at the end of the fourth quarter of fiscal 2026 and do not reflect the impact of any potential additional share repurchases completed in fiscal 2027. Our guidance also reflects our current expectations regarding the current data center environment and potential supply chain constraints of optical fiber, cable and connectors mentioned in our previous letters to shareholders, as well as our current understanding of the impact of the evolving tariff situation, both which could contribute to uncertainty in our business and in the macroeconomic environment.
Conference Call
Management will hold a conference call today, November 10, 2026, at 5:00 p.m. Eastern Time (4:00 p.m. Central Time) to discuss these results and provide an update on business conditions.
Clearfield’s President and Chief Executive Officer, Cheri Beranek, and Chief Financial Officer, Dan Herzog, will host the presentation, followed by a question-and-answer period.
U.S. dial-in: 1-844-501-2063
International dial-in: 1-412-365-5136
Conference ID: 10212806
The live webcast of the call can be accessed at the Clearfield Investor Relations website along with the company's earnings press release and presentation.
A replay of the call will be available after 8:00 p.m. Eastern Time on the same day through November 24, 2026, while an archived version of the webcast will be available on the Investor Relations website for 90 days.
U.S. replay dial-in: 1-844-512-2921
International replay dial-in: 1-412-317-6671
Replay ID: 10212806
About Clearfield, Inc.
Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that enable high-performance connectivity across a wide range of markets, helping to close the digital divide. Clearfield’s labor lite, craft-friendly platform is leveraged by community broadband providers, MSOs, incumbent service providers, ISPs, data centers, wireless providers, IoT networks, the military, municipalities, and cooperatives to connect homes, businesses and critical infrastructure faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.
Cautionary Statement Regarding Forward-Looking Information
Forward-looking statements contained herein and in any related presentation or in the related Earnings Presentation are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Words such as “may,” “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “outlook,” or “continue” or comparable terminology are intended to identify forward-looking statements. Such forward looking statements include, for example, statements about the Company’s future revenue and operating performance, the development and marketing of new products, the impact of recent trade policy changes, including new and increased tariffs, retaliatory tariffs, trade disputes, and market and economic reactions to such changes, expected customer ordering patterns and future supply agreements with customers, expectations regarding the impact on our business of M&A activity among our customers, anticipated shipping on backlog and future lead times, future availability of components and materials from the Company’s supply chain, compliance with Build America Buy America (BABA) Act requirements, the impact of the Broadband Equity, Access, and Deployment (BEAD) Program, Rural Digital Opportunity Fund (RDOF) or other government programs on the demand for the Company’s products or timing of customer orders, the Company’s ability to match capacity to meet demand, expansion into new markets and trends in and growth of the FTTx markets, market segments or customer purchases, and other statements that are not historical facts. These statements are based upon the Company's current expectations and judgments about future developments in the Company's business. Certain important factors could have a material impact on the Company's performance, including, without limitation: we depend on the availability of sufficient supply of certain materials and global disruptions in the supply chain for these materials could prevent us from meeting customer demand for our products; we rely on single-source suppliers, which could cause delays, increase costs or prevent us from completing customer orders; changes in trade policy in the U.S. and other countries may adversely affect our business and results of operations; inflationary price pressures and uncertain availability of components, raw materials, labor and logistics used by us and our suppliers could negatively impact our profitability; a significant percentage of our sales in the last three fiscal years have been made to a small number of customers, and the loss of these major customers could adversely affect us; further consolidation among our customers may result in the loss of some customers and may reduce sales during the pendency of business combinations and related integration activities; our business is dependent on interdependent management information systems; we may be subject to risks associated with acquisitions, and the risks could adversely affect future operating results; adverse global economic conditions and geopolitical issues could have a negative effect on our business, and results of operations and financial condition; product defects or the failure of our products to meet specifications could cause us to lose customers and sales or to incur unexpected expenses; we are dependent on key personnel; cyber-security incidents, including ransomware, data breaches or computer viruses, could disrupt our business operations, damage our reputation, result in increased expense, and potentially lead to legal proceedings; natural disasters, extreme weather conditions or other catastrophic events could negatively affect our business, financial condition, and operating results; to compete effectively, we must continually improve existing products and introduce new products that achieve market acceptance; our business is dependent upon capital spending by broadband service providers, and any delay, reduction or cancellation in capital spending by broadband service providers could adversely affect our business; if the telecommunications market does not continue to expand, our business may not grow as fast as we expect, which could adversely impact our business, financial condition and operating results; changes in U.S. government funding programs may cause our customers and prospective customers to delay, reduce, or accelerate purchases, leading to unpredictable and irregular purchase cycles; intense competition in our industry may result in price reductions, lower gross profits and loss of market share; our success depends upon adequate protection of our patent and intellectual property rights; we face risks associated with expanding our sales outside of the United States; our operating results may fluctuate significantly from quarter to quarter, which may make budgeting for expenses difficult and may negatively affect the market price of our common stock; our stock price has been volatile historically and may continue to be volatile - the price of our common stock may fluctuate significantly; anti-takeover provisions in our organizational documents, Minnesota law and other agreements could prevent or delay a change in control of our Company; and other factors set forth in Part I, Item IA. Risk Factors of Clearfield's Annual Report on Form 10-K for the year ended September 30, 2025 as well as other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements to reflect actual events unless required by law.
Investor Relations Contact:
Greg McNiff
The Blueshirt Group
773-485-7191
clearfield@blueshirtgroup.com
| CLEARFIELD, INC. | ||||||||||||||||
| CONSOLIDATED STATEMENTS OF EARNINGS | ||||||||||||||||
| (UNAUDITED) | ||||||||||||||||
| (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) | ||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||
| September 30, | September 30, | September 30, | September 30, | |||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net sales | $ | 39,343 | $ | 41,060 | $ | 151,939 | $ | 150,134 | ||||||||
| Cost of sales | 27,278 | 26,835 | 103,381 | 99,597 | ||||||||||||
| Gross profit | 12,065 | 14,225 | 48,558 | 50,537 | ||||||||||||
| Operating expenses | ||||||||||||||||
| Selling, general and administrative | 13,114 | 13,271 | 50,929 | 48,419 | ||||||||||||
| (Loss) income from continuing operations | (1,049 | ) | 954 | (2,371 | ) | 2,118 | ||||||||||
| Net investment income | 1,452 | 1,629 | 5,726 | 6,549 | ||||||||||||
| Income (loss) from continuing operations before income taxes | 403 | 2,583 | 3,355 | 8,667 | ||||||||||||
| Income tax expense (benefit) | 476 | 794 | 1,233 | 2,357 | ||||||||||||
| Income (loss) from continuing operations, net of tax | (73 | ) | 1,789 | 2,122 | 6,310 | |||||||||||
| Loss from discontinued operations, net of tax | - | (453 | ) | (337 | ) | (3,947 | ) | |||||||||
| Loss from impairment of discontinued operations, net of tax | - | (10,413 | ) | - | (10,413 | ) | ||||||||||
| Net income (loss) | $ | (73 | ) | $ | (9,077 | ) | $ | 1,785 | $ | (8,050 | ) | |||||
| Income (loss) per share | ||||||||||||||||
| Basic | ||||||||||||||||
| Continuing operations | $ | 0.00 | $ | 0.13 | $ | 0.16 | $ | 0.45 | ||||||||
| Discontinued operations | - | (0.78 | ) | (0.02 | ) | (1.03 | ) | |||||||||
| Basic income (loss) per share | $ | 0.00 | $ | (0.65 | ) | $ | 0.14 | $ | (0.58 | ) | ||||||
| Diluted | ||||||||||||||||
| Continuing operations | $ | 0.00 | $ | 0.13 | $ | 0.16 | $ | 0.45 | ||||||||
| Discontinued operations | - | (0.78 | ) | (0.02 | ) | (1.03 | ) | |||||||||
| Diluted income (loss) per share | $ | 0.00 | $ | (0.65 | ) | $ | 0.14 | $ | (0.58 | ) | ||||||
| Weighted average shares outstanding: | ||||||||||||||||
| Basic | 13,572,702 | 13,816,449 | 13,676,450 | 13,989,489 | ||||||||||||
| Diluted | 13,572,702 | 13,816,449 | 13,676,450 | 13,989,489 | ||||||||||||
| CLEARFIELD, INC. | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
| (UNAUDITED) | ||||||||
| (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) | ||||||||
| September 30, 2026 | September 30, 2025 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 29,295 | $ | 21,493 | ||||
| Short-term investments | 79,048 | 84,484 | ||||||
| Accounts receivables, net | 20,435 | 17,991 | ||||||
| Inventories, net | 37,930 | 42,031 | ||||||
| Prepaid and other current assets | 11,017 | 11,152 | ||||||
| Current assets held for sale | - | 21,337 | ||||||
| Total current assets | 177,725 | 198,488 | ||||||
| Property, plant and equipment, net | 8,925 | 9,682 | ||||||
| Long-term investments | 49,087 | 59,822 | ||||||
| Goodwill | 4,709 | 4,709 | ||||||
| Intangible assets, net | 7,506 | 9,353 | ||||||
| Right-of-use lease assets | 9,283 | 8,420 | ||||||
| Deferred tax asset | 9,624 | 10,263 | ||||||
| Other non-current assets | 445 | 608 | ||||||
| Non-current assets held for sale | - | 4,828 | ||||||
| Total assets | $ | 267,304 | $ | 306,173 | ||||
| Liabilities and Shareholders’ Equity | ||||||||
| Current liabilities | ||||||||
| Current portion of lease liability | $ | 2,816 | $ | 2,823 | ||||
| Accounts payable | 6,924 | 7,028 | ||||||
| Accrued compensation | 4,823 | 6,598 | ||||||
| Accrued expenses | 1,241 | 2,197 | ||||||
| Current liabilities held for sale | - | 17,957 | ||||||
| Total current liabilities | 15,804 | 36,603 | ||||||
| Other liabilities | ||||||||
| Long-term portion of lease liability | 6,783 | 5,934 | ||||||
| Non-current liabilities held for sale | - | 7,473 | ||||||
| Total liabilities | 22,587 | 50,010 | ||||||
| Shareholders’ equity | ||||||||
| Preferred stock, | ||||||||
| issued or outstanding | - | - | ||||||
| Common stock, authorized 50,000,000, | ||||||||
| 13,537,530 and 13,839,675 shares issued and outstanding | ||||||||
| as of September 30, 2026 and September 30, 2025, respectively | 135 | 138 | ||||||
| Additional paid-in capital | 136,588 | 147,382 | ||||||
| Accumulated other comprehensive (loss) income | (703 | ) | 1,731 | |||||
| Retained earnings | 108,697 | 106,912 | ||||||
| Total shareholders’ equity | 244,717 | 256,163 | ||||||
| Total Liabilities and Shareholders’ Equity | $ | 267,304 | $ | 306,173 | ||||
| CLEARFIELD, INC. | ||||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
| (UNAUDITED) | ||||||||
| (IN THOUSANDS) | ||||||||
| Year Ended | ||||||||
| September 30, | September 30, | |||||||
| 2026 | 2025 | |||||||
| Cash flows from operating activities (continuing) | ||||||||
| Net income (loss) | $ | 1,785 | $ | (8,050 | ) | |||
| Loss from discontinued operations, net of tax | 337 | 3,947 | ||||||
| Loss from impairment of discontinued operations, net of tax | - | 10,413 | ||||||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 6,288 | 6,121 | ||||||
| (Gain) loss on sale of assets | - | (284 | ) | |||||
| Amortization of premium and discount on investments, net | (311 | ) | (1,777 | ) | ||||
| Deferred taxes | 842 | (4,244 | ) | |||||
| Stock-based compensation | 4,649 | 4,597 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (2,444 | ) | (3,548 | ) | ||||
| Inventories, net | 4,101 | 13,643 | ||||||
| Other assets | 211 | 173 | ||||||
| Accounts payable and accrued expenses | (2,837 | ) | 5,562 | |||||
| Net cash provided by operating activities (continuing) | 12,621 | 26,553 | ||||||
| Cash flows from investing activities (continuing) | ||||||||
| Purchases of property, plant and equipment and intangible assets | (3,597 | ) | (4,743 | ) | ||||
| Proceeds from sale of property and equipment | - | 903 | ||||||
| Purchases of investments | (85,640 | ) | (119,074 | ) | ||||
| Proceeds from maturities of investments | 101,158 | 115,866 | ||||||
| Cash paid on disposal of business | (1,012 | ) | - | |||||
| Net cash provided by (used in) investing activities (continuing) | 10,909 | (7,048 | ) | |||||
| Cash flows from financing activities (continuing) | ||||||||
| Proceeds from issuance of common stock under employee stock purchase plan | 513 | 595 | ||||||
| Repurchase of shares for payment of withholding taxes for vested restricted stock grants | (1,019 | ) | (494 | ) | ||||
| Withholding related to exercise of stock options | (142 | ) | (689 | ) | ||||
| Issuance of stock under equity compensation plans | - | - | ||||||
| Repurchase of common stock | (15,293 | ) | (16,653 | ) | ||||
| Net cash used in financing activities (continuing) | (15,941 | ) | (17,241 | ) | ||||
| Cash flows from discontinued operations | ||||||||
| Net cash provided by operating activities | 1,380 | 2,897 | ||||||
| Net cash used in investing activities | - | (1,796 | ) | |||||
| Net cash (used in) provided by financing activities | (1,196 | ) | 3,000 | |||||
| Net cash provided by (used in) discontinued operations | 184 | 4,101 | ||||||
| Effect of exchange rates on cash and cash equivalents | (13 | ) | (97 | ) | ||||
| Net increase (decrease) in cash and cash equivalents | 7,760 | 6,268 | ||||||
| Change in cash held for sale | 42 | 1,077 | ||||||
| Cash and cash equivalents, beginning of period | 21,493 | 14,148 | ||||||
| Cash and cash equivalents, end of period | $ | 29,295 | $ | 21,493 | ||||
| Supplemental disclosures for cash flow information | ||||||||
| Cash (refunded) paid for income taxes, net | $ | (1,463 | ) | $ | 1,670 | |||
| Right of use assets obtained through lease liabilities | $ | 3,553 | $ | - | ||||
| Non-cash financing activities | ||||||||
| Cashless exercise of stock options | $ | 2,666 | $ | 2,533 | ||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is Clearfield's fiscal 2027 earnings and revenue guidance?
Clearfield expects fiscal 2027 net sales of $195 million to $205 million and net income per share of $0.25 to $0.46. The company expects a gradual recovery in broadband demand and a ramp-up of its data center business.
What assumptions underlie Clearfield's first-quarter fiscal 2027 guidance?
Clearfield expects first-quarter operating expenses as a percentage of sales to remain consistent with the fourth quarter of fiscal 2026. Its earnings-per-share ranges use shares outstanding at the end of that quarter and exclude any potential additional fiscal 2027 share repurchases.
When will Clearfield CEO Cheri Beranek retire?
Cheri Beranek plans to retire effective March 31, 2027, or earlier upon the appointment of her successor. She will continue as President and CEO Emeritus to support the transition.