10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001171843-17-002642`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	clfd-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 52 Cash Flow Statement 56

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
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.48M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.55M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.81M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	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
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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$8.11M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventories	`InventoryNet`	$9.97M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventories	`InventoryNet`	$8.37M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$974.99K	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	14.14M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	14.13M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.20M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	14.13M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	14.14M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$47.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$51.11M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.78M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.02M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$15.02M	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`	$438.72K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$428.31K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$13.70M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$18.02M	USD	Point-in-time
Total Assets	`Assets`	$70.60M	USD	Point-in-time
Total Assets	`Assets`	$71.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.57M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.63M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$4.70M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$54.79K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$75.31K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.35M	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`	$243.75K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$248.89K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$660.67K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$655.53K	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.70M	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; 14,144,112 and 14,126,279, shares issued and outstanding at March 31, 2017 and September 30, 2016	`CommonStockValue`	$141.26K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 14,144,112 and 14,126,279, shares issued and outstanding at March 31, 2017 and September 30, 2016	`CommonStockValue`	$141.44K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$58.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$57.32M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.92M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.13M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$62.59M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$65.70M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$70.60M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$71.41M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$32.64M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$16.95M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$17.65M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$35.92M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$18.68M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$10.21M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$21.27M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$9.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.65M	USD	2 Qtrs
Gross profit	`GrossProfit`	$7.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.96M	USD	2 Qtrs
Gross profit	`GrossProfit`	$7.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.18M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.83M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.16M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.14M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.14M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.28M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.12M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.47M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$112.62K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$39.17K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$59.88K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$72.71K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.34M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.58M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.18M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.20M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$689.69K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.22M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$800.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$433.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$907.52K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.98M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.22	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.13	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.22	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.30M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.58M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.59M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.31M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.80M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.80M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.58M	shares	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$907.52K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.98M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$706.18K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$800.14K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.13M	USD	2 Qtrs
(Gain) loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$5.10K	USD	2 Qtrs
(Gain) loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.39K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.18M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$473.19K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$115.01K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.84M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.60M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$919.67K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$207.49K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-234.20K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.30M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$714.00K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.03M	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.68K	USD	2 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.06M	USD	2 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$421.64K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfProductiveAssets`	-	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfProductiveAssets`	$5.10K	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$10.17M	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$3.82M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$5.57M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$3.86M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-383.71K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.66M	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`	$169.50K	USD	2 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$84.74K	USD	2 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$28.46K	USD	2 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$10.33K	USD	2 Qtrs
Tax withholding related to exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$36.22K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$49.35K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$333.76K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-167.23K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$138.28K	USD	2 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.53M	USD	2 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.48M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.48M	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, end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.48M	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 paid during the year for income taxes	`IncomeTaxesPaid`	$416.75K	USD	2 Qtrs
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$83.88K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$34.27K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$234.46K	USD	2 Qtrs

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