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Dec 31, 2019
Clearfield Q1 2020 Earnings Report
Reported a decrease in revenue but an increase in gross profit margin due to cost reduction efforts.
Key Takeaways
Clearfield reported a decrease in revenue for the first quarter of fiscal year 2020, but saw strong contributions from National Carrier and MSO markets. The company's gross profit margin increased due to operating enhancements. They are expanding manufacturing capacity in Mexico to support growth initiatives.
Revenue decreased by 4% year-over-year to $19.4 million.
Gross profit margin increased to 39.9%, reflecting operating enhancements.
Operating expenses increased by 8% due to expansion of sales resources and product testing costs.
Net income totaled $501,000, or $0.04 per diluted share, compared to $1.0 million, or $0.08 per diluted share, in the same year-ago quarter.
Forward Guidance
Clearfield reiterates its revenue guidance for fiscal 2020 to be between $92 million and $95 million. The Company also reiterates its gross profit as a percentage of total revenue to range between 37% and 38%, with some variability on a quarter-to-quarter basis. In addition, Clearfield reiterates its operating expense guidance to be between 31% and 33% of total revenue, and net income as a percentage of revenue to be between 3% and 5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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