secwatch.observer — SEC 8-K summary
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Issuer:     Clearfield, Inc. (CLFD)
CIK:        0000796505
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0001171843-24-000519
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clearfield Q1 fiscal 2024 revenue down 60% YoY, net loss of $5.3M
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- Net sales $34.2M, down 60% YoY; net loss $5.3M ($0.35 diluted) vs net income $14.3M ($1.00 diluted) YoY.
- Gross margin fell to 13.7% from 35.7% due to excess capacity and inventory reserves; backlog $43.5M, down 24% sequentially.
- Repurchased ~$12M in shares under buyback program, leaving $21M available; Q2 FY24 revenue guidance $29-33M, net loss per share $(0.49)-(0.55).
- Expects full Build America, Buy America Act compliance by end of 2024; launched new smaller vault product.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/796505/000117184324000519/0001171843-24-000519-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/796505/000117184324000519/f8k_020124.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-000519

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