Clearfield, Inc. Files Q3 2024 10-Q Report

TL;DR

Clearfield's Q3 2024 10-Q is in. Check financials.

AI Summary

Clearfield, Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The company's fiscal year ends on September 30th. Key financial details and operational updates are provided within this quarterly report.

Why It Matters

This filing provides investors and stakeholders with an update on Clearfield's financial health and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 25,000 — Number of items (Appears in a list of numbers, context unclear without full document)
• 20,400 — Number of items (Appears in a list of numbers, context unclear without full document)
• 40,000 — Number of items (Appears in a list of numbers, context unclear without full document)

Key Players & Entities

• Clearfield, Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2024-08-06 (date) — Filing date
• 763-476-6866 (phone_number) — Company business phone
• Bremer Bank National Association (company) — Party to a loan agreement

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value CLFD The Nasdaq Stock Mar

Filing Documents

• clfd20240630_10q.htm (10-Q) — 1430KB
• ex_708569.htm (EX-10.2) — 39KB
• ex_705857.htm (EX-31.1) — 12KB
• ex_705858.htm (EX-31.2) — 12KB
• ex_705859.htm (EX-32.1) — 5KB
• 0001171843-24-004461.txt ( ) — 7751KB
• clfd-20240630.xsd (EX-101.SCH) — 64KB
• clfd-20240630_def.xml (EX-101.DEF) — 432KB
• clfd-20240630_lab.xml (EX-101.LAB) — 364KB
• clfd-20240630_pre.xml (EX-101.PRE) — 469KB
• clfd-20240630_cal.xml (EX-101.CAL) — 46KB
• clfd20240630_10q_htm.xml (XML) — 1462KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 4

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 4

MANAGEMENT ' S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT ' S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 24

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 30

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 31

OTHER INFORMATION

PART II. OTHER INFORMATION 31

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 31

RISK FACTORS

ITEM 1A. RISK FACTORS 31

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 31

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 32

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 32

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 32

EXHIBITS

ITEM 6. EXHIBITS 32

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CLEARFIELD, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE DATA) June 30, 2024 (Unaudited) September 30, 2023 Assets Current Assets Cash and cash equivalents $ 25,624 $ 37,827 Short-term investments 98,195 130,286 Accounts receivables, net 27,636 28,392 Inventories, net 74,869 98,055 Other current assets 9,878 1,695 Total current assets 236,202 296,255 Property, plant and equipment, net 21,487 21,527 Other Assets Long-term investments 24,180 6,343 Goodwill 6,553 6,528 Intangible assets, net 6,399 6,092 Right-of-use lease assets 15,938 13,861 Deferred tax asset 5,514 3,039 Other 1,822 1,872 Total other assets 60,406 37,735 Total Assets $ 318,095 $ 355,517 Liabilities and Shareholders ' Equity Current Liabilities Current portion of lease liability $ 3,225 $ 3,737 Current maturities of long-term debt - 2,112 Accounts payable 9,049 8,891 Accrued compensation 7,153 5,571 Accrued expenses 3,029 2,404 Factoring liability 5,714 6,289 Total current liabilities 28,170 29,004 Other Liabilities Long-term debt, net of current maturities 2,142 - Long-term portion of lease liability 13,142 10,629 Deferred tax liability 67 721 Total liabilities 43,521 40,354 Shareholders' Equity Preferred stock, $ .01 par value; 500,000 shares; no shares issued or outstanding - - Common stock, authorized 50,000,000 , $ .01 par value; 14,238,693 and 15,254,725 shares issued and outstanding as of June 30, 2024 and September 30, 2023, respectively 142 153 Additional paid-in capital 158,627 188,218 Accumulated other comprehensive income (loss) 15 ( 544 ) Retained earnings 115,790 127,336 Total shareholders' equity 274,574 315,163 Total Liabilities and Shareholders' Equity $ 318,095 $ 355,517 SEE ACCOMPANYING NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMEN

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View this 10-Q filing on SEC EDGAR