10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001171843-16-011454`
Period End Date	20160630
Filing Date	20160803
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	clfd-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 52 Cash Flow Statement 58

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`	$17.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.59M	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`	$7.39M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$7.92M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$8.73M	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, 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`	$8.11M	USD	Point-in-time
Inventories	`InventoryNet`	$7.18M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.15M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	-	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.71M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	14.09M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$752.44K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.71M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	14.09M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$416.77K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$40.75M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$49.57M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.69M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.56M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$8.57M	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`	$370.26K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$323.80K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$11.51M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$11.18M	USD	Point-in-time
Total Assets	`Assets`	$57.63M	USD	Point-in-time
Total Assets	`Assets`	$66.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.17M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.60M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$3.33M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$51.17K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$80.80K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.55M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.04M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.08M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$514.08K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$240.81K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$228.34K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$754.89K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$1.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.35M	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; 14,089,769 and 13,705,658, shares issued and outstanding at June 30, 2016 and September 30, 2015	`CommonStockValue`	$140.90K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 14,089,769 and 13,705,658, shares issued and outstanding at June 30, 2016 and September 30, 2015	`CommonStockValue`	$137.06K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$58.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.89M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-4.75M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$358.63K	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$59.33M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$51.28M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$57.63M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$66.64M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$44.55M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$18.20M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$54.24M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$21.60M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$10.40M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$30.94M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$12.26M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$26.26M	USD	3 Qtrs
Gross profit	`GrossProfit`	$18.29M	USD	3 Qtrs
Gross profit	`GrossProfit`	$23.30M	USD	3 Qtrs
Gross profit	`GrossProfit`	$9.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.88M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.26M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$15.71M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.85M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.46M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.59M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$5.03M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.95M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$41.61K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$75.31K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$114.32K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$24.92K	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`	$7.70M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.50M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.22M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.60M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.02M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.80M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.10M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.31M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.25	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.37	USD	3 Qtrs
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.40M	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
Weighted average common shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.33M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.61M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.65M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.81M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.10M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.31M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$870.69K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.07M	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$578.09K	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.68M	USD	3 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-13.64K	USD	3 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.14K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$843.66K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$844.99K	USD	3 Qtrs
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	3 Qtrs
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.79M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.72M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.36M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$923.53K	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`	$340.13K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.31M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.27M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.14M	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`	$982.25K	USD	3 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.03M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$5.51M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$7.52M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$6.78M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$5.76M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-729.32K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.76M	USD	3 Qtrs
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	3 Qtrs
Tax benefit from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.79M	USD	3 Qtrs
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$254.43K	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 upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$473.65K	USD	3 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$41.69K	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`	$77.29K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$333.76K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$849.16K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.10M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-610.38K	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.52M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.03M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.16M	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`	$24.59M	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`	$17.16M	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`	$24.59M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$338.62K	USD	3 Qtrs
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$20.35K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$541.02K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$80.80K	USD	3 Qtrs

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