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Sep 30, 2020
Clearfield Q4 2020 Earnings Report
Clearfield's Q4 2020 earnings were marked by record quarterly revenue and solid growth in the MSO and Community Broadband markets.
Key Takeaways
Clearfield reported a record fourth quarter with revenue reaching $27.3 million, a 14% increase year-over-year. The company's success was driven by solid contributions from the MSO and Community Broadband markets. Net income for the quarter was $3.0 million, or $0.22 per diluted share, and the company ended the year with a record order backlog of $10.7 million.
Record revenue of $27.3 million, up 14% year-over-year.
Gross profit increased 21% to a record $11.2 million, representing 41.2% of revenue.
Net income totaled $3.0 million, or $0.22 per diluted share.
Order backlog increased 153% to $10.7 million.
Clearfield
Clearfield
Forward Guidance
Clearfield anticipates a strong first quarter of fiscal 2021 compared to the same year-ago period, based on robust bookings and pipeline of business. While a concrete financial forecast for the upcoming fiscal year is not provided due to ongoing volatility from COVID, the company is confident the demand for fiber-fed broadband will continue in fiscal 2021 and beyond.