10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001171843-17-004460`
Period End Date	20170630
Filing Date	20170731
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	clfd-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 52 Cash Flow Statement 60

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`	$19.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.59M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	500.00	shares	Point-in-time
Preferred stock, shares 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`	$18.07M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.53M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.74M	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$8.05M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$8.00M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventories	`InventoryNet`	$8.37M	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`	$9.34M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	14.13M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.20M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$869.15K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.96M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$43.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$51.11M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.96M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	14.13M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.78M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.51M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$17.15M	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`	$484.99K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$428.31K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$20.21M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$13.70M	USD	Point-in-time
Total Assets	`Assets`	$69.47M	USD	Point-in-time
Total Assets	`Assets`	$70.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.57M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.08M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$4.70M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$75.31K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$60.22K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.33M	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`	$266.23K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$243.75K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$678.01K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$655.53K	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.01M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.00M	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; 13,961,112 and 14,126,279, shares issued and outstanding at June 30, 2017 and September 30, 2016	`CommonStockValue`	$139.61K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,961,112 and 14,126,279, shares issued and outstanding at June 30, 2017 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`	$56.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.13M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$64.45M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$62.59M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$70.60M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$69.47M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$54.24M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$19.61M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$21.60M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$55.53M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$12.26M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$32.94M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$11.67M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$30.94M	USD	3 Qtrs
Gross profit	`GrossProfit`	$9.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.30M	USD	3 Qtrs
Gross profit	`GrossProfit`	$7.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$22.59M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.88M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.61M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$15.71M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$18.79M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.79M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.46M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.32M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.59M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$186.38K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$114.32K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$73.76K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$41.61K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.98M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.70M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.39M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.14M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.36M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$593.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.34M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$803.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.59M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.36M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.40	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.39	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.56M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.52M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.40M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.33M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.65M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.81M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.73M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.60M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.34M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$803.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.59M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.07M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.21M	USD	3 Qtrs
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	$643.60K	USD	1 Quarter
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	$643.60K	USD	3 Qtrs
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$2.19M	USD	3 Qtrs
(Gain) loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$5.10K	USD	3 Qtrs
(Gain) loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.14K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$843.66K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.77M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.72M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$53.62K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$923.53K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$965.46K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-324.21K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$399.66K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.53M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.99M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.93M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.52M	USD	3 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.63M	USD	3 Qtrs
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$982.25K	USD	3 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfProductiveAssets`	-	USD	3 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfProductiveAssets`	$5.10K	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$5.51M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$13.28M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$6.62M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$5.76M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-729.32K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-8.29M	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`	$334.69K	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`	$28.72K	USD	3 Qtrs
Tax withholding related to exercise of stock options and restricted stock vestings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$462.12K	USD	3 Qtrs
Tax withholding related to exercise of stock options and restricted stock vestings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$77.29K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$333.76K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.40M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.50M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$317.02K	USD	3 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.27M	USD	3 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.52M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.75M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.59M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.75M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.59M	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`	$18.07M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$893.48K	USD	3 Qtrs
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$338.62K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$541.02K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$34.27K	USD	3 Qtrs

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