10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001171843-14-003497`
Period End Date	20140630
Filing Date	20140729
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	clfd-20140630.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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.81M	USD	Point-in-time
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`	$18.24M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$7.03M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.99M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Accounts receivables	`AccountsReceivableNetCurrent`	$4.77M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivables	`AccountsReceivableNetCurrent`	$7.84M	USD	Point-in-time
Inventories	`InventoryNet`	$5.30M	USD	Point-in-time
Inventories	`InventoryNet`	$5.63M	USD	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
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$3.29M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$4.62M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	12.97M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$317.83K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$534.58K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.97M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$39.16M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.44M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$34.20M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.33M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.80M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$8.64M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$6.77M	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`	$297.20K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$268.24K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$11.51M	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`	$53.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.63M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.50M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$3.52M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$87.75K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$163.53K	USD	Point-in-time
Accrued rebates	`OtherAccruedLiabilitiesCurrent`	$2.56M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$7.11M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.31M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$210.34K	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`	$210.34K	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.32M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.34M	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; 13,443,184 and 12,974,263, shares issued and outstanding as of June 30, 2014 and September 30, 2013	`CommonStockValue`	$134.43K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,443,184 and 12,974,263, shares issued and outstanding as of June 30, 2014 and September 30, 2013	`CommonStockValue`	$129.74K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$54.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.48M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$45.69M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$40.08M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$46.41M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$53.01M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$14.36M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$43.72M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$13.53M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$34.31M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$8.32M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$20.55M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$7.91M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$25.02M	USD	3 Qtrs
Gross profit	`GrossProfit`	$13.77M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.04M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.70M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$11.86M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.83M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.14M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.19M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.80M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.63M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$6.85M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.86M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$70.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$25.54K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$70.05K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$21.75K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.70M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.88M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.82M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.92M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$709.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.46M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.53M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$671.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.24M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.34	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.18	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.32	USD	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.51M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.83M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.50M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.05M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.21M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.57M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.55M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.98M	shares	3 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.24M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$361.47K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$492.16K	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.35M	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$2.34M	USD	3 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-4.75K	USD	3 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-11.30K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$186.84K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$191.14K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$570.57K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$565.50K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.03M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-3.07M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.99M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-328.19K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$54.55K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$217.83K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$772.82K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.33M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.74M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.79M	USD	3 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.06M	USD	3 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$691.64K	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$8.90M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$7.06M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$5.99M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$7.06M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-692.64K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.97M	USD	3 Qtrs
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$185.58K	USD	3 Qtrs
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$135.98K	USD	3 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$618.85K	USD	3 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$15.00K	USD	3 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$142.11K	USD	3 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$55.75K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$662.32K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$95.23K	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.19M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.43M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.87M	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`	$5.68M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.87M	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`	$5.68M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$329.33K	USD	3 Qtrs
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$110.14K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$57.01K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$198.27K	USD	3 Qtrs

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