Clearfield, Inc. reported second quarter of fiscal 2026 ended March 31, 2026 results: revenue $34.4 million, net income net loss of $0.04 per diluted share, EPS $0.04. Guidance reaffirmed.
“(PRESS RELEASE) --- EX-99.1 2 exh_991.htm PRESS RELEASE EdgarFiling EXHIBIT 99.1 Clearfield Reports Second Quarter Fiscal 2026 Results Net sales from continuing operations of $34.4 million and net loss per share from continuing operations of $0.04, both toward top end of guidance range Order backlog increased 39% from December 31, 2025, to $31.6 million Reiterates”
Material Agreements
Clearfield, Inc. amended Amendment No. 3 to Loan Agreement with Old National Bank, successor by merger to Bremer Bank, National Association (effective 2026-04-25).
“On April 25, 2026, Clearfield, Inc. (the “Company”) entered into an Amendment No. 3 to Loan Agreement (the “Amendment”) that amends its Loan Agreement dated April 27, 2022 (as amended, the “Agreement”) with Old National Bank, successor by merger to Bremer Bank, National Association.”
Governance Changes
Clearfield, Inc.: Amended bylaws to implement proxy access, update for universal proxy rules and Minnesota exclusive forum, and make other changes (effective 2025-12-10).
“On December 10, 2025, upon recommendation of the Nominating and Corporate Governance Committee, the Board of Directors (the “Board”) of Clearfield, Inc. (the “Company”) approved and adopted amendments to the Company’s Amended and Restated Bylaws (the “Bylaws”), effective immediately, to implement proxy access, make changes in connection with the Securities and Exchange Commission rules regarding universal proxy cards (the “Universal Proxy Rules”), make changes in connection with the Minnesota Business Corporation Act exclusive forum provision, and to make certain other changes.”
Patrick F. Goepel departed as Director at Clearfield, Inc..
“On December 30, 2024, Patrick F. Goepel, a director of Clearfield, Inc. (the “Company”), notified the Company of his decision not to stand for re-election to the Board of Directors (the “Board”) at the 2025 annual meeting of shareholders.”
Ademir Sarcevic was appointed as director at Clearfield, Inc..
“On November 5, 2024, the Board of Directors (the “Board”) of the Company appointed Ms. Catherine T. Kelly and Mr. Ademir Sarcevic to serve as directors of the Company, effective December 11, 2024.”
Catherine T. Kelly was appointed as director at Clearfield, Inc..
“On November 5, 2024, the Board of Directors (the “Board”) of the Company appointed Ms. Catherine T. Kelly and Mr. Ademir Sarcevic to serve as directors of the Company, effective December 11, 2024.”
Material Agreements
Clearfield, Inc. entered into Lease Agreement with Prisma Shelter, S. de R.L. de C.V. and Banco Actinver, S.A., Institución de Banca Múltiple, Grupo Financiero Actinver, solely in its capacity as Trustee of Trust No. 3218 valued at monthly base rental payments of $168,786.19 (effective 2024-04-01).
“On April 4, 2024, Clearfield, Inc. (the “Company”) entered into a Lease Agreement (the “Lease”) with Prisma Shelter, S. de R.L. de C.V. (the “Tenant”) and Banco Actinver, S.A., Institución de Banca Múltiple, Grupo Financiero Actinver, solely in its capacity as Trustee of Trust No. 3218 (the “Landlord”) for an approximately 318,000 square foot manufacturing facility in Tijuana, Mexico (the “Facility”).”
Shareholder Votes
Clearfield, Inc. shareholders approved To ratify and confirm the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the Company for the fiscal year ending September 30, 2024. at the 2024-02-22 meeting.
“Proposal 3 To ratify and confirm the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the Company for the fiscal year ending September 30, 2024.”
Shareholder Votes
Clearfield, Inc. shareholders approved To approve, on a non-binding advisory basis, the compensation paid to our named executive officers. at the 2024-02-22 meeting.
“Proposal 2 To approve, on a non-binding advisory basis, the compensation paid to our named executive officers.”
Shareholder Votes
Clearfield, Inc. shareholders approved To elect eight (8) directors of the Company to serve until the next Annual Meeting of Shareholders or until their respective successors have been elected and qualified. at the 2024-02-22 meeting.
“Proposal 1 To elect eight (8) directors of the Company to serve until the next Annual Meeting of Shareholders or until their respective successors have been elected and qualified.”
Earnings Releases
Clearfield, Inc. reported first quarter of fiscal 2024 ended December 31, 2023 results: revenue $34.2 million, net income $5.3 million, EPS $0.35 per diluted share. Guidance initiated.
“share repurchases in the second quarter.” Financial Results for the Three Months Ended December 31, 2023 Net sales for the first quarter of fiscal 2024 decreased 60.2% to $34.2 million from $85.9 million in the same year-ago quarter. As of December 31, 2023, order backlog (defined as purchase orders received but not yet fulfilled) was $43.5 million, a decrease”
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