secwatch.observer — SEC 8-K summary
======================================

Issuer:     Clearfield, Inc. (CLFD)
CIK:        0000796505
Form:       8-K
Filed at:   2023-02-02T23:59:59+00:00
Accession:  0001171843-23-000637
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clearfield Q1 revenue up 68% YoY to $86M; EPS $1.00; reaffirms FY revenue guidance $380-393M
--------------------------------------------------------------------------------

- Net sales $85.9M, up 68% YoY from $51.1M; diluted EPS $1.00 vs $0.75, up 33%.
- Reaffirmed FY2023 revenue guidance $380-393M (40-45% growth); introduced FY net income guidance $4.30-$4.50 per share.
- Gross margin 35.7% vs 44.9% due to capacity investments; expects improvement as revenue scales later in FY.
- Backlog $136M, down 17% sequentially; lead times improved to 8-10 weeks from 10-12 months. Company will stop reporting backlog.
- Organic revenue grew 53% to $78M; Nestor Cables contributed $8M. Strength in Community Broadband, MSO, and National Carrier markets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/796505/000117184323000637/0001171843-23-000637-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/796505/000117184323000637/f8k_020223.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-000637

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer