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Dec 31, 2021
Clearfield Q1 2022 Earnings Report
Clearfield delivered a record-setting financial performance in the fiscal first quarter of 2022, driven by robust demand for fiber-fed broadband.
Key Takeaways
Clearfield reported record net sales of $51 million, an 89% increase year-over-year, driven by strong growth in the Community Broadband and MSO markets. The company's order backlog grew to a record $101 million. Net income increased 228% to $10.4 million.
Net sales increased 89% to a record $51 million.
Community Broadband market grew 81% over the prior year quarter.
Order backlog grew to a record $101 million as of December 31, 2021.
Net income increased 228% to a record $10.4 million.
Clearfield
Clearfield
Forward Guidance
The company expects to deliver projected annual net sales of $176 million to $183 million in fiscal year 2022, representing growth of 25% to 30% over fiscal year 2021 revenues.
Challenges Ahead
- The global shortage on some materials still remains an obstacle and the company will be monitoring these issues on a continual basis.