10-Q Filing

CLEARFIELD, INC. CIK: 796505 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001171843-18-005600`
Period End Date	20180630
Filing Date	20180801
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	clfd-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 52 Cash Flow Statement 62

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`	$9.29M	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`	$19.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.54M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$8.49M	USD	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`	$9.65M	USD	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
Inventories, net	`InventoryNet`	$9.69M	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, net	`InventoryNet`	$8.45M	USD	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
Other current assets	`OtherAssetsCurrent`	$698.45K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$37.81M	USD	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.69M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.43M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.91M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.69M	shares	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`	$18.23M	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`	$5.55M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$241.01K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$245.16K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$28.72M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$22.92M	USD	Point-in-time
Total Assets	`Assets`	$69.49M	USD	Point-in-time
Total Assets	`Assets`	$71.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.02M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$2.41M	USD	Point-in-time
Accrued compensation	`AccruedSalariesCurrent`	$1.63M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$457.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$93.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.11M	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`	$272.42K	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`	$332.50K	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.44M	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; 13,693,943 and 13,812,821, shares issued and outstanding as of June 30, 2018 and September 30, 2017	`CommonStockValue`	$136.94K	USD	Point-in-time
Common stock, authorized 50,000,000, $.01 par value; 13,693,943 and 13,812,821, shares issued and outstanding as of June 30, 2018 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`	$55.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.37M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$64.53M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$67.01M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$69.49M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$71.44M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$55.18M	USD	3 Qtrs
Net sales	`Revenues`	$55.53M	USD	3 Qtrs
Net sales	`Revenues`	$19.61M	USD	1 Quarter
Net sales	`Revenues`	$21.48M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$12.99M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$32.80M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$32.94M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$11.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$22.59M	USD	3 Qtrs
Gross profit	`GrossProfit`	$22.38M	USD	3 Qtrs
Gross profit	`GrossProfit`	$8.49M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.09M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$19.86M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$18.79M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.61M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.79M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.52M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.32M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.40M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$116.55K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$73.76K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$186.38K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$331.65K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.40M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.86M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.52M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.98M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$462.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$766.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$593.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.39M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.39M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$803.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.59M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.44M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.56M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.52M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.43M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.60M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.47M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.43M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.73M	shares	3 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.39M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$803.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.59M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.55M	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`	-	USD	1 Quarter
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	$643.60K	USD	3 Qtrs
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-384.00K	USD	3 Qtrs
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$20.36K	USD	3 Qtrs
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$5.10K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.77M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.41M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$53.62K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$965.46K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.55M	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-324.21K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-289.31K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-146.32K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.99M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.30M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.52M	USD	3 Qtrs
Business acquisition	`PaymentsToAcquireBusinessesGross`	-	USD	3 Qtrs
Business acquisition	`PaymentsToAcquireBusinessesGross`	$10.35M	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`	$920.36K	USD	3 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfProductiveAssets`	$83.05K	USD	3 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfProductiveAssets`	$5.10K	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$13.28M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$5.40M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$6.62M	USD	3 Qtrs
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$4.44M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.29M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.15M	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 under employee stock purchase plan	`ProceedsFromIssuanceOfCommonStock`	$297.86K	USD	3 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$28.72K	USD	3 Qtrs
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$21.17K	USD	3 Qtrs
Tax withholding related to exercise of stock options and restricted stock vestings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$348.53K	USD	3 Qtrs
Tax withholding related to exercise of stock options and restricted stock vestings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$462.12K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.40M	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.37M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.50M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.40M	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.27M	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.25M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.29M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.75M	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`	$18.54M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.29M	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`	$28.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.54M	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`	$48.99K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$34.27K	USD	3 Qtrs
Cashless exercise of stock options	`IssuanceOfCommonStockFundedThroughSharesSoldToCompany`	$5.78K	USD	3 Qtrs

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