Clearfield Q4 net sales down 48% YoY to $49.7M; guides Q1 revenue $28-32M with net loss

Clearfield, Inc.

2023-FY EPS reported $2.17 revenue$268,720,000

Q4 net income $2.7M ($0.17 diluted EPS) vs $17.0M ($1.22) a year ago; gross margin dropped to 24.1% from 39.5%.
FY2023 net sales $268.7M (-0.8% YoY); net income $32.5M ($2.17) vs $49.4M ($3.55).
Board increased share repurchase authorization to $40M from $22M.
Guidance for Q1 FY2024: revenue $28-32M, net loss per share $0.36-0.44.
Order backlog decreased to $57.3M from $74.7M sequentially and from $164.9M a year ago.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Clearfield, Inc. reported financial results for fourth quarter and fiscal year ended September 30, 2023.

Period: fourth quarter and fiscal year ended September 30, 2023
Result: reported results

Exact text from the filing

On November 9, 2023, Clearfield, Inc. (the “Company”) issued a press release announcing the results of its fourth quarter and fiscal year ended September 30, 2023.

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Source: SEC EDGAR

accession 0001171843-23-006950

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