10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001171843-17-000709`
Period End Date	20161231
Filing Date	20170207
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	clfd-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 26 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.53M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$7.93M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$8.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$7.45M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventories	`InventoryNet`	$8.37M	USD	Point-in-time
Inventories	`InventoryNet`	$8.71M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.20M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	14.13M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	14.15M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$976.56K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$51.11M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	14.15M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	14.13M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$47.13M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.90M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.78M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$13.28M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$10.70M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$428.31K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$439.57K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$16.29M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$13.70M	USD	Point-in-time
Total Assets	`Assets`	$69.33M	USD	Point-in-time
Total Assets	`Assets`	$70.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.57M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$4.70M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$1.90M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$120.80K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$75.31K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.44M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$411.78K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$411.78K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$246.69K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$243.75K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$655.53K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$658.47K	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.10M	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; 14,145,164 and 14,126,279 , shares issued and outstanding at December 31, 2016 and September 30, 2016	`CommonStockValue`	$141.45K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 14,145,164 and 14,126,279 , shares issued and outstanding at December 31, 2016 and September 30, 2016	`CommonStockValue`	$141.26K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$57.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$58.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.13M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$64.22M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$62.59M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$69.33M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$70.60M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$15.69M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$18.27M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$9.01M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$11.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.68M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.21M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.02M	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`	$1.19M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$33.54K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$52.73K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.01M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.24M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$525.87K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$367.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$876.93K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.57M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.29M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.79M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$876.93K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$388.62K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$348.75K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$478.89K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	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`	$593.75K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$226.77K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-548.29K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-991.24K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$341.49K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-239.34K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$162.93K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-228.26K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.90M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.35M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-605.30K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.26M	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`	$529.30K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$1.18M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$7.44M	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$1.89M	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$2.46M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.51M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$475.29K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$257.24K	USD	1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$169.50K	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 upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$34.99K	USD	1 Quarter
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$17.00	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`	$10.33K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$159.19K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-105.63K	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.96M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.63M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.06M	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`	$20.70M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.06M	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`	$20.70M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$15.88K	USD	1 Quarter
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$12.25K	USD	1 Quarter
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$32.98K	USD	1 Quarter
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$15.89K	USD	1 Quarter

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