10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001171843-15-002291`
Period End Date	20150331
Filing Date	20150429
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	clfd-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 52 Cash Flow Statement 52

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	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
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.81M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.19M	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
Short-term investments	`ShortTermInvestments`	$7.86M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$6.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$5.03M	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$4.76M	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
Inventories	`InventoryNet`	$5.39M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.74M	shares	Point-in-time
Inventories	`InventoryNet`	$5.16M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.74M	shares	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.25M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.72M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$917.54K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$543.26K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$38.03M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$37.81M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.46M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.26M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$8.30M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$7.08M	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`	$156.62K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$322.13K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$310.96K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$11.35M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$9.96M	USD	Point-in-time
Total Assets	`Assets`	$51.85M	USD	Point-in-time
Total Assets	`Assets`	$53.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.58M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.10M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$1.54M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.75M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$374.42K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$247.66K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.10M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.50M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$359.47K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$218.09K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$577.56K	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.07M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.10M	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; 13,715,833 and 13,742,964, shares issued and outstanding at March 31, 2015 and September 30, 2014	`CommonStockValue`	$137.43K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,715,833 and 13,742,964, shares issued and outstanding at March 31, 2015 and September 30, 2014	`CommonStockValue`	$137.16K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.43M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$47.95M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$46.75M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$51.85M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$53.03M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$29.36M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$13.21M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$26.36M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$12.37M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$16.70M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$15.86M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$7.49M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$7.62M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.50M	USD	2 Qtrs
Gross profit	`GrossProfit`	$12.66M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.72M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.81M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.29M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.67M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.42M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.08M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$464.13K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.92M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.99M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$50.38K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$24.75K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$24.53K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$44.45K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.13M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.03M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$488.66K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.94M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$714.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$773.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$200.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.82M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$288.66K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.36M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.21M	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.25	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.10	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.10	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`	$0.02	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.21M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.19M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.72M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.75M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.55M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.56M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.61M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$288.66K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.36M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.21M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$545.78K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$309.83K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.69M	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$712.00K	USD	2 Qtrs
(Gain) loss on disposal of assets	`GainLossOnDispositionOfAssets`	$13.29K	USD	2 Qtrs
(Gain) loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-6.34K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$564.47K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$374.37K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-4.41M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-272.09K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-226.12K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-770.87K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$660.65K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$363.35K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$223.37K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-386.69K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.92M	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`	$3.33M	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$7.41M	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$4.17M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$4.67M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$4.17M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.33M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.08M	USD	2 Qtrs
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$105.61K	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 upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$28.97K	USD	2 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$101.03K	USD	2 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$129.49K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$849.16K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-714.58K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$61.96K	USD	2 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.32M	USD	2 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.13M	USD	2 Qtrs
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`	$17.06M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.19M	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`	$17.06M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.19M	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`	$4.75K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$179.61K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$80.80K	USD	2 Qtrs

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