10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001171843-16-007596`
Period End Date	20151231
Filing Date	20160203
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	clfd-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 26 Cash Flow Statement 56

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
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`	$18.07M	USD	Point-in-time
Preferred stock, authorized shares (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.19M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$7.92M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$8.75M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$6.01M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$5.02M	USD	Point-in-time
Inventories	`InventoryNet`	$6.94M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$7.18M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.15M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.71M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.71M	shares	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$416.77K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.71M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$556.13K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.71M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$41.96M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.75M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.69M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.55M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$6.77M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$8.29M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$323.80K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$345.48K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$11.18M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$9.68M	USD	Point-in-time
Total Assets	`Assets`	$57.20M	USD	Point-in-time
Total Assets	`Assets`	$57.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.18M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$1.39M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.60M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$103.39K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$80.80K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.68M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$152.99K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.08M	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$228.34K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$233.47K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$386.46K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$1.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.07M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.35M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments 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; 13,706,205 and 13,705,658, shares issued and outstanding at December 31, 2015 and September 30, 2015	`CommonStockValue`	$137.06K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,706,205 and 13,705,658, shares issued and outstanding at December 31, 2015 and September 30, 2015	`CommonStockValue`	$137.06K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.75M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$53.13M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$51.28M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.20M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.63M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$13.99M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$15.69M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$9.01M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$8.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.68M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.74M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.13M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.70M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.98M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.62M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$33.54K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$25.86K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.64M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.01M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$630.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$573.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.38M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.22M	shares	1 Quarter
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.29M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$348.75K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$229.90K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$529.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$217.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.39K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$226.77K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$283.63K	USD	1 Quarter
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$348.00K	USD	1 Quarter
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-372.88K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-991.24K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-239.34K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-31.19K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$222.80K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$146.49K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.22M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.91M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.07M	USD	1 Quarter
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$226.71K	USD	1 Quarter
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.76M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$1.64M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$1.18M	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$1.38M	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$1.89M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.03M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$475.29K	USD	1 Quarter
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$348.00K	USD	1 Quarter
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$257.24K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$170.17K	USD	1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$118.01K	USD	1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$105.61K	USD	1 Quarter
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$34.99K	USD	1 Quarter
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.28K	USD	1 Quarter
Tax withholding related to vesting of restricted stock grants	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.39K	USD	1 Quarter
Tax withholding related to vesting of restricted stock grants	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-63.28K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$242.37K	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.02M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.63M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.70M	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`	$18.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.70M	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`	-	USD	1 Quarter
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$15.88K	USD	1 Quarter
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$15.89K	USD	1 Quarter
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$3.22K	USD	1 Quarter

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