10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001171843-16-009660`
Period End Date	20160331
Filing Date	20160504
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	clfd-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 52 Cash Flow Statement 59

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.06M	USD	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`	$20.55M	USD	Point-in-time
Preferred stock, authorized shares (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.19M	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`	$7.92M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$8.39M	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`	$7.85M	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$6.01M	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
Inventories	`InventoryNet`	$8.10M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	-	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.73M	shares	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 outstanding (in shares)	`CommonStockSharesOutstanding`	13.73M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$582.19K	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
Total current assets	`AssetsCurrent`	$40.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$45.48M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.38M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.69M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$8.29M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$7.78M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$350.79K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$323.80K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$11.18M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$10.70M	USD	Point-in-time
Total Assets	`Assets`	$57.63M	USD	Point-in-time
Total Assets	`Assets`	$61.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.60M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.53M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$80.80K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$53.15K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.04M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$436.99K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.08M	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$237.87K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$228.34K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$1.31M	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$674.86K	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.35M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.42M	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; 13,730,571 and 13,705,658, shares issued and outstanding at March 31, 2016 and September 30, 2015	`CommonStockValue`	$137.31K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,730,571 and 13,705,658, shares issued and outstanding at March 31, 2016 and September 30, 2015	`CommonStockValue`	$137.06K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.92M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$51.28M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$55.15M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.63M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$61.57M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$16.95M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$26.36M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$12.37M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$32.64M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$15.86M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$9.67M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$7.62M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$18.68M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.50M	USD	2 Qtrs
Gross profit	`GrossProfit`	$13.96M	USD	2 Qtrs
Gross profit	`GrossProfit`	$7.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.83M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.14M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.42M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.29M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$464.13K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.12M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.08M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.14M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$39.17K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$72.71K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$50.38K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$24.53K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.13M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.18M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$488.66K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.20M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$773.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$744.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$200.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.37M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$288.66K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.36M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.82M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.44M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.21	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.21	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	2 Qtrs
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.31M	shares	1 Quarter
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.30M	shares	2 Qtrs
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.19M	shares	1 Quarter
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.21M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.55M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.56M	shares	2 Qtrs

Cash Flow Statement 59 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`	$2.82M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$706.18K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$545.78K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$501.00K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$712.00K	USD	2 Qtrs
Loss (gain) on disposal of assets	`GainLossOnDispositionOfAssets1`	$13.29K	USD	2 Qtrs
Loss (gain) on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.39K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$564.47K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$473.19K	USD	2 Qtrs
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	2 Qtrs
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$741.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-272.09K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.84M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$919.67K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-226.12K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$166.12K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$363.35K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.46M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-386.69K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.29M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.92M	USD	2 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.33M	USD	2 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$421.64K	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$4.17M	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$3.82M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$4.17M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$3.86M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-383.71K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.33M	USD	2 Qtrs
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$741.00K	USD	2 Qtrs
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	2 Qtrs
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$118.01K	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 upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$28.97K	USD	2 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$84.74K	USD	1 Quarter
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$84.74K	USD	2 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$36.22K	USD	2 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$849.16K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$333.76K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-714.58K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$573.77K	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.13M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.48M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.06M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.55M	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`	$17.06M	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`	$20.55M	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`	$83.88K	USD	2 Qtrs
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$4.75K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$234.46K	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.