10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001171843-14-001945`
Period End Date	20140331
Filing Date	20140429
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	clfd-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 52 Cash Flow Statement 54

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.98M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.99M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$7.84M	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$3.43M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$5.63M	USD	Point-in-time
Inventories, net	`InventoryNet`	$4.86M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$3.92M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$4.62M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$317.83K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$976.58K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.06M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	12.97M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$34.20M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.06M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$36.29M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.97M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.78M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.80M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$6.77M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$9.53M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Deferred taxes long term	`DeferredTaxAssetsNetNoncurrent`	$810.57K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$268.24K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$299.14K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$12.39M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$10.42M	USD	Point-in-time
Total Assets	`Assets`	$46.41M	USD	Point-in-time
Total Assets	`Assets`	$50.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.92M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$3.52M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$1.90M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$80.47K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$163.53K	USD	Point-in-time
Accrued rebates	`OtherAccruedLiabilitiesCurrent`	$2.66M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.31M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.56M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$186.31K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$21.10K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$21.10K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$186.31K	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.74M	USD	Point-in-time
Commitment and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitment and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized 500 shares; no shares outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized 500 shares; no shares outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,062,858 and 12,974,263, shares issued and outstanding at March 31, 2014 and September 30, 2013	`CommonStockValue`	$130.63K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,062,858 and 12,974,263, shares issued and outstanding at March 31, 2014 and September 30, 2013	`CommonStockValue`	$129.74K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$54.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.86M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$40.08M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$43.72M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$50.47M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$46.41M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$20.78M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$13.21M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$29.36M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$10.51M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$6.30M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$12.64M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$16.70M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$7.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.14M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.22M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.66M	USD	2 Qtrs
Operating expenses Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.30M	USD	2 Qtrs
Operating expenses Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.81M	USD	1 Quarter
Operating expenses Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.27M	USD	1 Quarter
Operating expenses Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.67M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.99M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$949.44K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.92M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.84M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$22.84K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$24.75K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$48.30K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$44.45K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.03M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.88M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$972.28K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.94M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$793.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$427.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.82M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$714.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.21M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.09M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$545.28K	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.25	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.75M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.49M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.50M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.72M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.93M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.86M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.61M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.21M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.09M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$545.28K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$309.83K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$239.11K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.69M	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$729.55K	USD	2 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-6.34K	USD	2 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-7.30K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$197.68K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$374.37K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$186.21K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$383.73K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.22M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-4.41M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$770.64K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-770.87K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$109.08K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$660.65K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$223.37K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$308.95K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$655.05K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.33M	USD	2 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$331.59K	USD	2 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$549.76K	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$7.41M	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$3.86M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$4.67M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$4.83M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$425.24K	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.08M	USD	2 Qtrs
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$90.42K	USD	2 Qtrs
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$68.76K	USD	2 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$101.03K	USD	2 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$11.97K	USD	2 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$25.03K	USD	2 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$129.49K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$55.70K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$61.96K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.32M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.14M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.68M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.81M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.13M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.68M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.81M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.13M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$263.14K	USD	2 Qtrs
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$74.14K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$39.18K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$179.61K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.