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. reports developments in fiber optic management, protection, and delivery solutions for broadband, data center, wireless, municipal, military, cooperative, and service-provider networks. News commonly covers quarterly results from continuing operations, order backlog, share repurchases, community broadband demand, and product additions such as the NOVA high-density fiber platform and CraftSmart FiberFirst pedestals for Fiber-to-the-Home deployments.
Clearfield, Inc. (NASDAQ: CLFD) will participate in the 25th Annual Needham Growth Conference on January 10-11, 2023, at the Lotte New York Palace Hotel. Clearfield's President and CEO, Cheri Beranek, will engage in a fireside chat on January 10 at 11:00 a.m. ET. The discussion will be webcast and available for replay. Additionally, Clearfield will conduct one-on-one investor meetings during the conference. Interested parties can schedule meetings through their Needham representatives or contact Clearfield’s investor relations.
Clearfield, Inc. (NASDAQ:CLFD) announces that Kevin Morgan, its Chief Marketing Officer, has been appointed to the Fiber Broadband Association’s Senior Council. Morgan's appointment, which follows his term as 2022 Chairman, acknowledges his significant contributions over two decades. He aims to help close the Digital Equity Gap in the U.S. while advancing fiber broadband deployment. Clearfield has been an FBA member since 2002, emphasizing its commitment to fiber management solutions for communication service providers.
Clearfield, Inc. (NASDAQ: CLFD) announced a public offering of 1,200,000 shares at $100.00 per share, aiming for gross proceeds of approximately $120 million. The offering, which includes a 30-day option for underwriters to purchase an additional 180,000 shares, is set to close on December 9, 2022, pending customary conditions. Proceeds will support working capital and general corporate purposes. The offering follows a shelf registration statement effective since April 28, 2022.
Clearfield, Inc. (NASDAQ: CLFD) has announced a public offering of $100 million of its common stock, with a 30-day option for underwriters to purchase an additional 15%. The net proceeds will be allocated for working capital and general corporate purposes. The offering is subject to market conditions with no guarantee on timing or terms. Cowen and Needham & Company are the joint book-running managers. The shares are offered under a shelf registration statement effective since April 28, 2022.
Clearfield reported a record revenue of $95 million for Q4 2022, a 110% year-over-year increase, contributing to a full-year revenue of $271 million (+92%). Net income rose 143% to $49 million, translating to $3.55 per diluted share. The backlog also surged by 148% to $165 million. For FY 2023, the company expects net sales of $380 million to $393 million, indicating a growth of 40% to 45%. The acquisition of Nestor Cables contributed $7 million to Q4 revenue but incurred a loss of approximately $200,000 due to integration costs.
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Clearfield, Inc. (NASDAQ: CLFD) will host a conference call on November 17, 2022, at 5:00 p.m. ET, to discuss its financial results for the fiscal fourth quarter and year ended September 30, 2022. The timing is set considering management and audit preparations along with enhanced reporting obligations due to a higher market cap and an international acquisition. Financial results and the company's FieldReport will be available prior to the call in the Investor Relations section of its website, providing insights into performance.
Clearfield, Inc. (NASDAQ: CLFD) reports superior deployment efficiency using its FastPass™ method, allowing operators to nearly double homes connected to fiber broadband. A recent study covering 159 installations revealed:
- Outside installation time reduced to 1 hour 5 minutes, saving 38%.
- Inside installation time cut to 35 minutes, a 35% reduction.
- Technicians can add one to two installation appointments daily.
This efficiency is vital for closing the digital equity gap and optimizing customer service.
Clearfield, Inc. (NASDAQ: CLFD) has launched the CraftSmart FiberFirst Pedestal, the first pedestal for fiber-only deployments, aimed at addressing the market shortage as planning for federally funded fiber broadband networks commences. This cost-effective, non-metallic enclosure is designed for outdoor use and enhances reliability and strength. The product aims to streamline installations and improve efficiency for operators in rural markets. Production has started, and orders are currently being accepted.
Clearfield, Inc. (NASDAQ: CLFD) reported a record revenue of $71 million for Q3 2022, marking an 84% year-over-year growth. The community broadband segment drove 73% growth compared to the previous year. The company achieved net income of $12.7 million ($0.92/share), up 109% from Q3 2021. The quarter-end backlog increased 16% to $157 million. Clearfield raised its 2022 sales guidance to $243-$247 million, reflecting 72%-75% growth year-over-year.