Clearfield Q1 FY22 revenue $51.1M (+89% YoY); net income $10.4M (+228%)

Clearfield, Inc.

2022-Q1 EPS reported $0.75 revenue$51,109,000

Record net sales of $51.1M, up 89% from $27M; net income $10.4M vs $3.2M.
Community Broadband sales $35.8M (+81% YoY); record backlog $101M (up from $9M).
Gross margin improved to 45% from 42%; operating expenses 19.4% of sales vs 28.3%.
Board reinstated share repurchase program, adding $10M; ~$15M remaining authorized.
Cash and investments $58M, no debt; inventory increased to $44M to support demand.

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