Clearfield Stock Price, News & Analysis

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.

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.