$CLFD
Clearfield, Inc.

2015 Q4 Form 10-Q Financial Statement

#000117184316007596 Filed on February 03, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4
Revenue $15.69M $13.99M
YoY Change 12.18% -13.4%
Cost Of Revenue $9.013M $8.244M
YoY Change 9.33% -10.49%
Gross Profit $6.677M $5.743M
YoY Change 16.27% -17.25%
Gross Profit Margin 42.56% 41.06%
Selling, General & Admin $4.697M $4.126M
YoY Change 13.84% 6.61%
% of Gross Profit 70.35% 71.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $348.7K $229.9K
YoY Change 51.7% 53.27%
% of Gross Profit 5.22% 4.0%
Operating Expenses $4.697M $4.126M
YoY Change 13.84% 6.61%
Operating Profit $1.980M $1.617M
YoY Change 22.47% -47.34%
Interest Expense $30.00K $30.00K
YoY Change 0.0% 50.0%
% of Operating Profit 1.52% 1.86%
Other Income/Expense, Net
YoY Change
Pretax Income $2.013M $1.642M
YoY Change 22.59% -46.85%
Income Tax $525.9K $573.0K
% Of Pretax Income 26.12% 34.89%
Net Earnings $1.487M $1.069M
YoY Change 39.1% -45.99%
Net Earnings / Revenue 9.48% 7.65%
Basic Earnings Per Share $0.11 $0.08
Diluted Earnings Per Share $0.11 $0.08
COMMON SHARES
Basic Shares Outstanding 13.29M 13.22M
Diluted Shares Outstanding 13.58M 13.58M

Balance Sheet

Concept 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.40M $24.10M
YoY Change 21.99% 14.22%
Cash & Equivalents $20.70M $17.17M
Short-Term Investments $8.700M $6.900M
Other Short-Term Assets $556.1K $2.800M
YoY Change -80.14% -44.0%
Inventory $6.944M $5.400M
Prepaid Expenses
Receivables $5.020M $4.700M
Other Receivables $0.00 $0.00
Total Short-Term Assets $41.96M $36.80M
YoY Change 14.03% 10.18%
LONG-TERM ASSETS
Property, Plant & Equipment $5.552M $4.000M
YoY Change 38.79% 135.29%
Goodwill $2.571M
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.800M $8.300M
YoY Change -18.07% 1.22%
Other Assets $345.5K $300.0K
YoY Change 15.16% 0.0%
Total Long-Term Assets $15.23M $15.20M
YoY Change 0.23% 17.83%
TOTAL ASSETS
Total Short-Term Assets $41.96M $36.80M
Total Long-Term Assets $15.23M $15.20M
Total Assets $57.20M $52.00M
YoY Change 10.0% 12.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.183M $2.500M
YoY Change -12.67% 13.64%
Accrued Expenses $103.4K $1.400M
YoY Change -92.62% -17.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.681M $3.900M
YoY Change -5.62% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K
YoY Change
Total Long-Term Liabilities $386.5K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.681M $3.900M
Total Long-Term Liabilities $386.5K $0.00
Total Liabilities $4.067M $4.000M
YoY Change 1.69% 0.0%
SHAREHOLDERS EQUITY
Retained Earnings -$3.362M
YoY Change
Common Stock $137.1K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.13M $48.00M
YoY Change
Total Liabilities & Shareholders Equity $57.20M $52.00M
YoY Change 10.0% 12.31%

Cashflow Statement

Concept 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $1.487M $1.069M
YoY Change 39.1% -45.99%
Depreciation, Depletion And Amortization $348.7K $229.9K
YoY Change 51.7% 53.27%
Cash From Operating Activities $1.910M $1.074M
YoY Change 77.91% -84.21%
INVESTING ACTIVITIES
Capital Expenditures $226.7K $1.765M
YoY Change -87.15% -2060.97%
Acquisitions
YoY Change
Other Investing Activities $700.0K -$260.0K
YoY Change -369.23% -122.03%
Cash From Investing Activities $475.3K -$2.028M
YoY Change -123.44% -287.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $139.2K $64.56K
YoY Change 115.68% -46.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 242.4K -63.28K
YoY Change -483.02% -258.2%
NET CHANGE
Cash From Operating Activities 1.910M 1.074M
Cash From Investing Activities 475.3K -2.028M
Cash From Financing Activities 242.4K -63.28K
Net Change In Cash 2.628M -1.017M
YoY Change -358.27% -112.85%
FREE CASH FLOW
Cash From Operating Activities $1.910M $1.074M
Capital Expenditures $226.7K $1.765M
Free Cash Flow $1.683M -$691.2K
YoY Change -343.56% -110.03%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Note 1. Basis of Presentation</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><div style="display: inline; color: black">The accompanying (a) condensed balance sheet as of September 30, 2015, which has been derived from audited financial statements, and (b) unaudited interim condensed financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission. Pursuant to these rules and regulations, certain financial information and footnote disclosures normally included in the financial statements have been condensed or omitted. However, in the opinion of management, the financial statements include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the financial position and results of operations and cash flows of the interim periods presented. </div>Operating results for the interim periods presented are not necessarily indicative of results to be expected for the full year or for any other interim period, due to variability in customer purchasing patterns and seasonal, operating and other factors.<div style="display: inline; color: black"> These condensed financial statements should be read in conjunction with the financial statements and notes thereto included in the Company&#x2019;s Annual Report on Form 10-K for the year ended September 30, 2015.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; 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>
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StockIssuedDuringPeriodSharesStockOptionsExercised
1450
CY2015Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
8000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
53131587
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
51279130
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2015Q4 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="display: inline; font-family: times new roman; font-size: 10pt"><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="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; 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></div></div></div></div>
CY2015Q4 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0
CY2015Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
286483
CY2014Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
359254
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13575162
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13581434
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13288679
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13222180

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