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Mar 31, 2020
Clearfield Q2 2020 Earnings Report
Clearfield operations were classified as critical sector work and the company achieved the highest level of revenue for any fiscal Q2 in its history.
Key Takeaways
Clearfield reported a strong second quarter with revenue of $20.4 million, up 7% year-over-year. Gross profit margin was nearly 40%, the highest level in eight quarters. Order backlog increased 61% sequentially to $9.3 million. Due to economic uncertainties, the company withdrew its fiscal 2020 financial guidance.
Revenue of $20.4M, up 7% over the prior year quarter
66% growth in Tier 1 revenue over the prior year quarter, driven by strong market adoption of FieldShield and other fiber connectivity solutions
75% increase in MSO revenue over the prior year quarter
Order backlog increased $3.5M, or 61%, sequentially to $9.3M
Clearfield
Clearfield
Forward Guidance
Clearfield withdrew its fiscal 2020 financial guidance due to the lack of visibility in the broader global markets and intensifying demand uncertainty.