$CLFD
Clearfield, Inc.

2015 Q3 Form 10-Q Financial Statement

#000117184315004151 Filed on July 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $15.77M $18.20M $14.36M
YoY Change 10.13% 26.69% 6.16%
Cost Of Revenue $9.200M $10.40M $8.319M
YoY Change 9.26% 25.0% 5.18%
Gross Profit $6.580M $7.797M $6.043M
YoY Change 11.53% 29.01% 7.34%
Gross Profit Margin 41.72% 42.85% 42.08%
Selling, General & Admin $4.560M $4.846M $4.185M
YoY Change 7.8% 15.78% 9.27%
% of Gross Profit 69.3% 62.15% 69.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $350.0K $320.0K $180.0K
YoY Change 66.67% 77.78% 50.0%
% of Gross Profit 5.32% 4.1% 2.98%
Operating Expenses $4.550M $4.846M $4.185M
YoY Change 7.57% 15.78% 9.27%
Operating Profit $2.030M $2.951M $1.858M
YoY Change 21.56% 58.8% 3.24%
Interest Expense $30.00K $20.00K $30.00K
YoY Change 0.0% -33.33% 50.0%
% of Operating Profit 1.48% 0.68% 1.61%
Other Income/Expense, Net
YoY Change
Pretax Income $2.050M $2.976M $1.884M
YoY Change 20.59% 57.97% 3.51%
Income Tax $680.0K $1.023M $709.0K
% Of Pretax Income 33.17% 34.38% 37.64%
Net Earnings $1.370M $1.953M $1.175M
YoY Change 30.48% 66.23% 2.16%
Net Earnings / Revenue 8.69% 10.73% 8.18%
Basic Earnings Per Share $0.15 $0.09
Diluted Earnings Per Share $100.7K $0.14 $0.08
COMMON SHARES
Basic Shares Outstanding 13.72M 13.20M 13.05M
Diluted Shares Outstanding 13.61M 13.55M

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.00M $25.10M $25.30M
YoY Change 4.84% -0.79% 69.8%
Cash & Equivalents $18.07M $17.16M $18.24M
Short-Term Investments $7.900M $7.900M $7.000M
Other Short-Term Assets $416.8K $499.2K $3.800M
YoY Change -23.28% -86.86% 40.74%
Inventory $7.183M $6.734M $5.300M
Prepaid Expenses
Receivables $6.011M $7.387M $4.800M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $40.75M $41.18M $39.20M
YoY Change 7.15% 5.05% 41.52%
LONG-TERM ASSETS
Property, Plant & Equipment $5.690M $5.628M $2.300M
YoY Change 131.08% 144.7% 43.75%
Goodwill $2.571M $2.571M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $8.300M $7.700M $8.600M
YoY Change 0.0% -10.47% 53.57%
Other Assets $323.8K $291.7K $300.0K
YoY Change 0.52% -2.78% -93.33%
Total Long-Term Assets $16.87M $16.21M $13.80M
YoY Change 22.16% 17.48% -3.5%
TOTAL ASSETS
Total Short-Term Assets $40.75M $41.18M $39.20M
Total Long-Term Assets $16.87M $16.21M $13.80M
Total Assets $57.63M $57.39M $53.00M
YoY Change 11.15% 8.28% 26.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.358M $3.626M $2.000M
YoY Change 12.03% 81.29% 5.26%
Accrued Expenses $80.80K $77.16K $5.200M
YoY Change -67.37% -98.52% 108.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.037M $6.147M $7.100M
YoY Change -1.25% -13.42% 61.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $200.0K $0.00
YoY Change
Total Long-Term Liabilities $1.311M $951.3K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.037M $6.147M $7.100M
Total Long-Term Liabilities $1.311M $951.3K $0.00
Total Liabilities $6.348M $7.098M $7.300M
YoY Change 24.45% -2.76% 65.91%
SHAREHOLDERS EQUITY
Retained Earnings -$4.746M -$6.117M
YoY Change -49.66%
Common Stock $137.1K $137.2K
YoY Change -0.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $51.28M $50.29M $45.70M
YoY Change
Total Liabilities & Shareholders Equity $57.63M $57.39M $53.00M
YoY Change 11.15% 8.28% 26.19%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $1.370M $1.953M $1.175M
YoY Change 30.48% 66.23% 2.16%
Depreciation, Depletion And Amortization $350.0K $320.0K $180.0K
YoY Change 66.67% 77.78% 50.0%
Cash From Operating Activities $2.510M $1.420M $1.410M
YoY Change -1295.24% 0.71% 24.78%
INVESTING ACTIVITIES
Capital Expenditures -$510.0K -$700.0K -$730.0K
YoY Change 27.5% -4.11% 421.43%
Acquisitions
YoY Change
Other Investing Activities -$470.0K -$730.0K -$170.0K
YoY Change -160.26% 329.41% -82.65%
Cash From Investing Activities -$980.0K -$1.430M -$890.0K
YoY Change -357.89% 60.67% -20.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -610.0K 100.0K 600.0K
YoY Change 177.27% -83.33% 1400.0%
NET CHANGE
Cash From Operating Activities 2.510M 1.420M 1.410M
Cash From Investing Activities -980.0K -1.430M -890.0K
Cash From Financing Activities -610.0K 100.0K 600.0K
Net Change In Cash 920.0K 90.00K 1.120M
YoY Change -1940.0% -91.96% 2140.0%
FREE CASH FLOW
Cash From Operating Activities $2.510M $1.420M $1.410M
Capital Expenditures -$510.0K -$700.0K -$730.0K
Free Cash Flow $3.020M $2.120M $2.140M
YoY Change 1489.47% -0.93% 68.5%

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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.36
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3525546
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
373051
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
328551
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.93
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.18
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.92
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2981443
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y328D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y292D
CY2015Q2 us-gaap Short Term Investments
ShortTermInvestments
7945000
CY2014Q3 us-gaap Short Term Investments
ShortTermInvestments
6632000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
456850
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
42000
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
50292177
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
46746634
CY2015Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">In preparation of the Company&#x2019;s financial statements, management is required to make estimates and assumptions that affect reported amounts of assets and liabilities and related revenues and expenses during the reporting periods. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.</div></div></div>
CY2015Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
414828
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
502035
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
376473
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
742195
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13614949
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13547948
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13581098
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13569394
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13200121
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13045913
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13204625
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12827199

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clfd-20150630.xml Edgar Link completed
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