Clearfield Q3 net sales $61.3M (-14% YoY), EPS $0.33 vs $0.92; raises FY EPS guidance

Clearfield, Inc.

2023-Q3 EPS reported $2.00 revenue$219,035,000

Net income $5.2M ($0.33 diluted EPS) vs $12.7M ($0.92) a year ago; gross margin fell to 31.1% from 41.1%.
Backlog $74.7M, down 31% sequentially and 52% YoY, as customers digest inventory.
FY 2023 revenue guidance reiterated at $260-275M; EPS guidance raised to $2.05-2.15 from $1.80-2.10.
International revenue from Nestor Cables contributed $13.4M; organic revenue fell 33% YoY.
Management cites cautious community broadband spending and inventory digestion, expects impact into fiscal 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Clearfield, Inc. reported the third quarter of fiscal 2023 results: revenue $61.3 million, net income $5.2 million, EPS $0.33 per diluted share. Guidance raised.

Period: the third quarter of fiscal 2023
Revenue: $61.3 million
Net income: $5.2 million
EPS: $0.33 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

our full year net income per share guidance.” Financial Results for the Three Months Ended June 30, 2023 Net sales for the third quarter of fiscal 2023 decreased 14% to $61.3 million from $71.3 million in the same year-ago quarter. Organic revenue decreased 33% year over year to $47.9 million, while Nestor Cables generated revenue of $13.4 million. As of June

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Source: SEC EDGAR

accession 0001171843-23-004984

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