10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001171843-18-000715`
Period End Date	20171231
Filing Date	20180129
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	clfd-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 26 Cash Flow Statement 52

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`	$28.01M	USD	Point-in-time
Preferred stock, authorized shares (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Preferred stock, authorized shares (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.06M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.39M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.94M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$7.24M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$5.57M	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`	$8.14M	USD	Point-in-time
Inventories	`InventoryNet`	$8.45M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$939.33K	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
Other current assets	`OtherAssetsCurrent`	$978.93K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.49M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.82M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$41.14M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.81M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.43M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.82M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.81M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.20M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$19.82M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$20.36M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$529.95K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$552.33K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$22.92M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$23.48M	USD	Point-in-time
Total Assets	`Assets`	$69.17M	USD	Point-in-time
Total Assets	`Assets`	$69.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.74M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$1.44M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.41M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$93.30K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$98.57K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.24M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$444.08K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$60.08K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$279.64K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$281.72K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$725.80K	USD	Point-in-time
Total other liabilities	`LiabilitiesNoncurrent`	$339.72K	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.97M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.09M	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; 500,000 shares; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value; 500,000 shares; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,824,191 and 13,812,821, shares issued and outstanding at December 31, 2017 and September 30, 2017	`CommonStockValue`	$138.24K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,824,191 and 13,812,821, shares issued and outstanding at December 31, 2017 and September 30, 2017	`CommonStockValue`	$138.13K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.41M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.92M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.98M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$64.53M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$66.08M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$69.17M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$69.49M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$16.87M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$18.27M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$9.76M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$11.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.21M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.46M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.02M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.19M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$644.44K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$52.73K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$95.72K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.24M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$740.16K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$367.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-203.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$876.93K	USD	1 Quarter
Net income	`NetIncomeLoss`	$943.16K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.57M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.44M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.79M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.48M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$876.93K	USD	1 Quarter
Net income	`NetIncomeLoss`	$943.16K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$436.20K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$388.62K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-384.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.59K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$483.29K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$593.75K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-548.29K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$341.49K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-313.18K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-41.71K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-228.26K	USD	1 Quarter
Accounts payable, accrued expenses and deferred rent	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.50M	USD	1 Quarter
Accounts payable, accrued expenses and deferred rent	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.90M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-605.30K	USD	1 Quarter
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$529.30K	USD	1 Quarter
Purchases of property, plant and equipment and intangible assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$230.00K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$2.47M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$7.44M	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$2.48M	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$2.46M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-219.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.51M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$10.85K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$148.26K	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 upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$17.00	USD	1 Quarter
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.25K	USD	1 Quarter
Tax withholding related to vesting of restricted stock grants	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-9.26K	USD	1 Quarter
Tax withholding related to vesting of restricted stock grants	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-10.33K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$159.19K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$131.40K	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.96M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.92M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.45M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.54M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.06M	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`	$20.45M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.54M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.06M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$2.50K	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`	$5.78K	USD	1 Quarter

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