Clearfield, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
August 03, 2023 at 04:06 pm EDT
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Clearfield, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported sales was USD 61.28 million compared to USD 71.25 million a year ago. Net income was USD 5.22 million compared to USD 12.75 million a year ago. Basic earnings per share from continuing operations was USD 0.33 compared to USD 0.93 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to USD 0.92 a year ago.
For the nine months, sales was USD 219.04 million compared to USD 175.85 million a year ago. Net income was USD 29.84 million compared to USD 32.37 million a year ago. Basic earnings per share from continuing operations was USD 2.01 compared to USD 2.35 a year ago. Diluted earnings per share from continuing operations was USD 2 compared to USD 2.33 a year ago.
Clearfield, Inc. designs, manufactures and distributes fiber protection, fiber management and fiber delivery solutions to enable fiber-fed deployment throughout the broadband service provider space primarily across North America. It has two segments: the Clearfield Operating (Clearfield) and the Nestor Cables Operating (Nestor). Clearfield segment is focused on providing fiber management, fiber protection and fiber delivery products that accelerate the turn-up of fiber-based networks in residential homes, businesses and network infrastructure on the wireline and wireless access network. It offers a portfolio of fiber products that allow service providers to build fiber networks faster, meet service delivery demands, and align build costs with take rates. Nestor segment manufactures fiber optic and copper telecommunication cables and equipment, which it distributes to telecommunication operators, network owners, electric companies, building contractors and industrial companies.
CLEARFIELD, INC. 
