10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001171843-18-003305`
Period End Date	20180331
Filing Date	20180502
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	clfd-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 52 Cash Flow Statement 58

Balance Sheet 74 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`	$18.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.14M	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`	$22.48M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$6.29M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.94M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	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
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$7.16M	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.45M	USD	Point-in-time
Inventories, net	`InventoryNet`	$10.88M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.07M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$978.93K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	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
Total current assets	`AssetsCurrent`	$34.53M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.81M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.05M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	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`	13.81M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$19.82M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$20.18M	USD	Point-in-time
Goodwill	`Goodwill`	$2.57M	USD	Point-in-time
Goodwill	`Goodwill`	$4.71M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$284.79K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.62M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$245.16K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$228.82K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$22.92M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$30.74M	USD	Point-in-time
Total Assets	`Assets`	$70.32M	USD	Point-in-time
Total Assets	`Assets`	$69.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.80M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.41M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$93.30K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$31.44K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.24M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$60.08K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$444.08K	USD	Point-in-time
Deferred rent	`DeferredRentCredit`	$276.80K	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`	$336.87K	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.27M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.97M	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; 13,811,076 and 13,812,821, shares issued and outstanding at March 31, 2018 and September 30, 2017	`CommonStockValue`	$138.11K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,811,076 and 13,812,821, shares issued and outstanding at March 31, 2018 and September 30, 2017	`CommonStockValue`	$138.13K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.62M	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`	$66.05M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$70.32M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$69.49M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$33.70M	USD	2 Qtrs
Net sales	`Revenues`	$35.92M	USD	2 Qtrs
Net sales	`Revenues`	$17.65M	USD	1 Quarter
Net sales	`Revenues`	$16.83M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$21.27M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$10.05M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$19.81M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$10.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.89M	USD	2 Qtrs
Gross profit	`GrossProfit`	$6.78M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.65M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.18M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.77M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.31M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.16M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$1.28M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$2.47M	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$118.68K	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$-525.75K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$215.10K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$59.88K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$112.62K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$119.38K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.58M	USD	2 Qtrs
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.34M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$333.78K	USD	2 Qtrs
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-406.38K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$800.00K	USD	2 Qtrs
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-101.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$433.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-304.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$1.78M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$907.52K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$637.78K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-305.38K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.13	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.45M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.45M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.58M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.59M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.80M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.49M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.45M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.80M	shares	2 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$907.52K	USD	1 Quarter
Net income	`NetIncomeLoss`	$637.78K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-305.38K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$989.91K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$800.14K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-384.00K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Loss (gain) on disposal of assets	`GainLossOnDispositionOfAssets1`	$5.10K	USD	2 Qtrs
Loss (gain) on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.59K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$969.08K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.18M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$115.01K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-78.27K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-354.98K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.60M	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-234.20K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$71.12K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-313.92K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.30M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.68K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.26M	USD	2 Qtrs
Business acquisition	`PaymentsToAcquireBusinessesGross`	$10.35M	USD	2 Qtrs
Business acquisition	`PaymentsToAcquireBusinessesGross`	-	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`	$516.34K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfProductiveAssets`	$5.10K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfProductiveAssets`	-	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$10.17M	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$4.18M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$3.47M	USD	2 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$5.57M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.58M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.66M	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 under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$148.26K	USD	2 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$17.95K	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`	$9.26K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$236.02K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$49.35K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-79.08K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$138.28K	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.53M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.39M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.54M	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`	$9.14M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.48M	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`	$28.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.14M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.48M	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`	$23.99K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$34.27K	USD	2 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$5.78K	USD	2 Qtrs

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