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CLFD Nasdaq· Clearfield Inc
Earnings report Q4 2023

Clearfield Inc. Reports Decrease in Revenue for Q4 2023

Segments of revenue

Clearfield Inc. reported total revenue of $34.23 million for the fourth quarter of 2023. The revenue was generated from two reportable segments: Clearfield and Nestor Cables. The Clearfield segment contributed $28.10 million, accounting for approximately 82% of the company's total net sales. The Nestor Cables segment generated $6.13 million in revenue. There were no revenue contributions from internal customers.

Strengths

Despite a decrease in revenue compared to the same quarter in the previous year, Clearfield Inc. maintained a strong position in the market. The company's Clearfield segment continued to be the primary revenue driver, representing a significant portion of the total net sales. Management attributed the decrease in revenue to decreased net sales and gross profit margin. However, the company's ability to maintain a substantial market share in the fiber management, protection, and delivery solutions industry is a notable strength.

Challenges

Clearfield Inc. faced challenges in the form of a decrease in revenue for the fourth quarter of 2023. The company reported a net loss of $5.27 million, compared to a net income of $14.26 million in the same quarter of the previous year. The decrease in revenue and gross profit margin contributed to the loss from operations. Additionally, income tax expenses further impacted the company's financial performance.

Noteworthy

Clearfield Inc. experienced a significant decrease in revenue for the fourth quarter of 2023 compared to the same quarter in the previous year. The company's net loss of $5.27 million was primarily driven by decreased net sales and gross profit margin. However, the company's ability to raise approximately $130 million in capital during the first fiscal quarter of 2023 resulted in increased net investment income for the current quarter.

Summary

Clearfield Inc. faced challenges in the fourth quarter of 2023, reporting a decrease in revenue and a net loss. The company's Clearfield segment remained a strong revenue driver, accounting for the majority of the total net sales. Despite the decrease in revenue, Clearfield Inc. maintained a significant market share in the fiber management, protection, and delivery solutions industry. The company's ability to raise capital and increase net investment income provided some positive aspects to its financial performance. However, the company will need to address the factors contributing to the decrease in revenue and work towards improving its gross profit margin to ensure future profitability.

Source documents

Form 10-Q  filed on Feb 05, 2024
100 pages scanned

Reference data

Company financials Q4 revenue 0
Analyst estimates Q4 EPS missed by 0.00%
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