10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001171843-15-004151`
Period End Date	20150630
Filing Date	20150729
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	clfd-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 52 Cash Flow Statement 54

Balance Sheet 74 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 (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.81M	USD	Point-in-time
Preferred stock, authorized shares (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.16M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$6.63M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$7.95M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$5.03M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$7.39M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$6.73M	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
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.45M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$2.25M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.74M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.72M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.72M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$543.26K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.74M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$499.23K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$38.03M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$41.18M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.46M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.63M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$8.30M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$7.72M	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`	-	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`	$291.66K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$11.35M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$10.58M	USD	Point-in-time
Total Assets	`Assets`	$51.85M	USD	Point-in-time
Total Assets	`Assets`	$57.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.10M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.75M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.44M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$77.16K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$247.66K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.15M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.10M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$728.05K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	-	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$223.22K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$951.27K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.10M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.10M	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; 13,720,377 and 13,742,964, shares issued and outstanding at June 30, 2015 and September 30, 2014	`CommonStockValue`	$137.43K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,720,377 and 13,742,964, shares issued and outstanding at June 30, 2015 and September 30, 2014	`CommonStockValue`	$137.20K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.12M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$46.75M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$50.29M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.39M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$51.85M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$18.20M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$14.36M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$44.55M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$43.72M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$26.26M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$10.40M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$25.02M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$8.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.29M	USD	3 Qtrs
Gross profit	`GrossProfit`	$18.70M	USD	3 Qtrs
Gross profit	`GrossProfit`	$6.04M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.26M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.85M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$11.86M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.95M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$6.85M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$5.03M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.86M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$24.92K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$75.31K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$70.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$25.54K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.88M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.98M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.11M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.92M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.02M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.80M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$709.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.53M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.31M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.95M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.25	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.34	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.32	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.83M	shares	3 Qtrs
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.05M	shares	1 Quarter
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.20M	shares	3 Qtrs
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.20M	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`	13.58M	shares	3 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`	$3.31M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$492.16K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$870.69K	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$2.34M	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.68M	USD	3 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-4.75K	USD	3 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-13.64K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$565.50K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$844.99K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-3.07M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.36M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-328.19K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.34M	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-52.50K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$217.83K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.27M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$772.82K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.74M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.34M	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`	$4.03M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$7.52M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$8.90M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$5.99M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$6.78M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.76M	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`	$211.46K	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 upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$41.69K	USD	3 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$618.85K	USD	3 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$14.37K	USD	3 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$142.11K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$849.16K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-610.38K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$662.32K	USD	3 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.03M	USD	3 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.43M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.19M	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`	$17.16M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash and cash equivalents, end 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`	$17.16M	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`	$20.35K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$80.80K	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.