On Thursday, shares of the specialist in fiber management for communication service providers, Clearfield Inc. (NASDAQ: CLFD) rose 10.15 percent to $33.00 in after-hours trading. Closed at $29.96 last session, Clearfield stock gained 0.67 percent or $0.2.
Its stock has advanced 134.98% in the last 12 months and has declined -1.93% in the past one week. A return of 21.20% has been recorded for the stock this year so far. Further, the stock has a P/E ratio of 41.32. A surge in CLFD stock followed financial results released yesterday.
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How CLFD performed?
Products for fiber optic management, protection, and delivery are developed, manufactured, and distributed by Clearfield. Our “fiber to anywhere” platform works for all of the top incumbent local exchange carriers, competitive local exchange carriers, and MSOs/Cable TV companies. Broadband needs are also met by this platform in the utility/municipal, enterprise, data center, and military sectors.
For the fiscal second quarter and six months ended March 31, 2021, Clearfield reported its financial results yesterday.
- From $20.4 million in the same period last year, net sales of CLFD for the second quarter of fiscal 2021 increased by almost 45% to $29.7 million.
- For the second quarter of fiscal 2021, CLFD’s gross profit increased by 59%, increasing from $8.2 million to make 39.9% of net sales a year ago to $12.9 million which was 43.6% of net sales.
- During the second quarter of fiscal 2021, operating expenditures for CLFD came to $8.5 million (involving 28.6% of net sales) as compared to $7.4 million (equivalent to 36.4% of net sales) in the same quarter of the previous quarter.
- CLFD’s income from operations increased 518 percent from $0.7 million in a year-ago quarter to $4.5 million in fiscal Q2 2021.
- This quarter’s net income for Clearfield (CLFD) totaled $3.6 million, or $0.27 per diluted share, a 387% improvement from the $0.7 million, or $0.05 per diluted share, reported in the same quarter of fiscal 2020.