Clearfield Inc (CLFD) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.04. The company posted revenue of $16.90 million in the period, compared to analysts expectations of $13.67 million. The company’s revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Clearfield Inc opened for trading at $16.76 and hit $17 on the upside on Wednesday, eventually ending the session at $16.96, with a gain of 1.37% or 0.23 points. The heightened volatility saw the trading volume jump to 67,985 shares. Company has a market cap of $232 M.
In a different news, on Feb 9, 2016, Stephen L Zuckerman (director) sold 2,000 shares at $13.58 per share price. According to the SEC, on Feb 5, 2016, Patrick Goepel (director) purchased 1,000 shares at $14.07 per share price. On Nov 18, 2015, Charles N Hayssen (director) purchased 3,000 shares at $12.01 per share price, according to the Form-4 filing with the securities and exchange commission.
Clearfield Inc. (Clearfield) manufactures markets and sells an end-to-end fiber management and enclosure platform that consolidates distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home business and cell site. The Company has extends this product line with a fiber delivery platform of optical cable connectors and microduct that delivers fiber to environments previously not economically or environmentally viable. The Company has established as a value-added supplier to its target market of broadband service providers including independent local exchange carriers (telephone) multiple service operators (cable) wireless service providers non-traditional providers and municipal-owned utilities. The Company deploys a hybrid sales model with some sales made directly to the customer some made through two-tier distribution partners and some sales through original equipment suppliers who private label its products.