Clearfield, Inc. Files 10-Q, Details Bremer Bank Credit Facility

TL;DR

Clearfield's 10-Q is out, showing their credit line with Bremer Bank is still active. Looks stable.

AI Summary

Clearfield, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported financial results and provided updates on its credit facilities. Specifically, the filing details a senior loan agreement with Bremer Bank National Association, which was active as of December 31, 2024.

Why It Matters

This filing provides investors with an update on Clearfield's financial health and its borrowing arrangements, which are crucial for understanding its operational capacity and future investments.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant financial distress.

Key Numbers

• 25,000 — USD (Likely a financial figure related to the credit facility or operations, though specific label is missing.)
• 20,400 — USD (Likely a financial figure related to the credit facility or operations, though specific label is missing.)
• 40,000 — USD (Likely a financial figure related to the credit facility or operations, though specific label is missing.)

Key Players & Entities

• Clearfield, Inc. (company) — Filer of the 10-Q
• Bremer Bank National Association (company) — Lender in a senior loan agreement
• 2024-12-31 (date) — End of the reporting period

FAQ

Key Financial Figures

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

Filing Documents

• clfd20241231_10q.htm (10-Q) — 1075KB
• ex_773095.htm (EX-31.1) — 12KB
• ex_773096.htm (EX-31.2) — 13KB
• ex_773097.htm (EX-32.1) — 7KB
• 0001171843-25-000691.txt ( ) — 7044KB
• clfd-20241231.xsd (EX-101.SCH) — 67KB
• clfd-20241231_def.xml (EX-101.DEF) — 461KB
• clfd-20241231_lab.xml (EX-101.LAB) — 372KB
• clfd-20241231_pre.xml (EX-101.PRE) — 503KB
• clfd-20241231_cal.xml (EX-101.CAL) — 44KB
• clfd20241231_10q_htm.xml (XML) — 1200KB

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 23

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 28

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 29

OTHER INFORMATION

PART II. OTHER INFORMATION 29

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 29

RISK FACTORS

ITEM 1A. RISK FACTORS 29

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 29

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 29

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 30

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 30

EXHIBITS

ITEM 6. EXHIBITS 30

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CLEARFIELD, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE DATA) December 31, 2024 (Unaudited) September 30, 2024 Assets Current Assets Cash and cash equivalents $ 30,453 $ 16,167 Short-term investments 82,561 114,825 Accounts receivables, net 14,064 21,309 Inventories, net 59,224 66,766 Other current assets 11,609 10,528 Total current assets 197,911 229,595 Property, plant and equipment, net 23,717 23,953 Other Assets Long-term investments 41,916 24,505 Goodwill 6,493 6,627 Intangible assets, net 6,103 6,343 Right-of-use lease assets 18,276 15,797 Deferred tax asset 6,622 6,135 Other 2,192 2,320 Total other assets 81,602 61,727 Total Assets $ 303,230 $ 315,275 Liabilities and Shareholders ' Equity Current Liabilities Current portion of lease liability $ 3,651 $ 3,357 Accounts payable 4,325 6,720 Accrued compensation 5,400 6,977 Accrued expenses 2,562 4,378 Factoring liability 2,790 2,920 Total current liabilities 18,728 24,352 Other Liabilities Long-term debt, net of current maturities 2,072 2,228 Long-term portion of lease liability 14,995 12,771 Deferred tax liability - 161 Total liabilities 35,795 39,512 Shareholders' Equity Preferred stock, $ .01 par value; 500,000 shares; no shares issued or outstanding - - Common stock, authorized 50,000,000 , $ .01 par value; 14,131,537 and 14,229,107 shares issued and outstanding as of December 31, 2024 and September 30, 2024, respectively 141 142 Additional paid-in capital 154,254 159,579 Accumulated other comprehensive (loss) income ( 17 ) 1,079 Retained earnings 113,057 114,963 Total shareholders' equity 267,435 275,763 Total Liabilities and Shareholders ' Equity $ 303,230 $ 315,275 SEE ACCOMPANYING NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 4 CLEARFIELD, INC. CONDENS

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View this 10-Q filing on SEC EDGAR