Clearfield, Inc. · NASDAQ:CLFD
Clearfield — FY2018 Earnings Presentation
19 slides from Clearfield's earnings presentation, Nov 13, 2018
Slide 1: Fiscal Q4 and FY 2018 Earnings Call
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Leader in Fiber Optic Management and Connectivity Solutions Fiscal Q4 and FY 2018 Earnings Call FieldReport
Slide 2: Important Cautions Regarding Forward-Looking Statements
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Important Cautions Regarding Forward - Looking Statements • Forward - looking statements contained herein and in any related presentation or in the related FieldReport are made pursuant to the safe harbor provisions of
Slide 3: Welcome
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Welcome Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 3
Slide 4: FQ4 and FY 2018 Review
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD FQ4 and FY 2018 Review NASDAQ:CLFD 4 • Record revenues of $22.5 million for FQ4, up 22% year - over - year • Continued strong performance in Community Broadband business , where revenues increased 27% year - over - year
Slide 5: Recent Operational and Market Progress
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Recent Operational and Market Progress 5 1) Based on revenue of $77.7 million for the fiscal year ended Sept. 30, 2018 69% 9% 9% 7% 6% FY 18 Revenue Composition 1 Community Broadband (Tier 2 & 3, utilities, municipaliti
Slide 6: Financial Update
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Financial Update Dan Herzog CHIEF FINANCIAL OFFICER NASDAQ:CLFD 6
Slide 7: Quarterly Financial Performance
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Quarterly Financial Performance $18.4M $16.9M $16.8M $21.5M $22.5M Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Revenue 7 - 13% - 8% - 5% +10% +22% Year - over - Year Growth Rate NASDAQ:CLFD
Slide 8: Quarterly Financial Performance
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Quarterly Financial Performance $7.7M $7.1M $6.8M $8.5M $8.6M Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Gross Profit 8 41.7% 42.1% 40.3% 39.5% 38.3% Gross Profit (%) NASDAQ:CLFD $18.4M $16.9M $16.8M $21.5M $22.5M Q4-17 Q1-18 Q2-18
Slide 9: Operating Expenses
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Operating Expenses 9 $6.2M $6.5M $7.3M $6.1M $6.1M Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Operating Expenses % of Revenue NASDAQ:CLFD
Slide 10: Operating Expenses
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Operating Expenses NASDAQ:CLFD 10 $1.3M $0.9M - $0.3M $1.8M $1.9M Q4-17 Q1-18 Q2-18* Q3-18 Q4-18 Net Income 6.8% 5.6% - 1.8% 8.2% 8.4% Net Margin *Net income for fiscal Q2 2018 was impacted by a one - time payment of $8
Slide 11: Balance Sheet Supports Growth
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Balance Sheet Supports Growth NASDAQ:CLFD 11 $22.6M $33.1M $34.3M $44.2M $44.3M $35.5M 2013 2014 2015 2016 2017 2018 Cash and Investment Balances $ in Millions Sept. 30, 2018 Sept. 30, 2017 Cash and Investments $35.5 $4
Slide 12: Operational Update and Outlook
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Operational Update and Outlook Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 12
Slide 13: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan 13 Enhancing Competitive Position and Operational Effectiveness Capitalizing on Disruptive Growth Opportunities Within Tier 1 Markets Expanding Core Community Broadband Business Attract
Slide 14: Preparing for 5G — The Elephant Beyond the Trunk
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Preparing for 5G — The Elephant Beyond the Trunk NASDAQ:CLFD 14 • 5G spend will enter rapid turn - up but still in infancy • Market believed to have 20+ year sustainable opportunity • No existing incumbent • Unique poin
Slide 15: Fiscal 2019 Outlook and Guidance
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Fiscal 2019 Outlook and Guidance 15 • $83 - $87 million in revenue • 37% - 38% gross margins • Operating expenses targeted at 31% - 33% of revenue • 3% - 5% net income as a percent of revenue $58.0 $60.3 $75.3 $73.9 $77
Slide 16: Q&A
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Q&A Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 16 Dan Herzog CHIEF FINANCIAL OFFICER
Slide 17: Call / November 8, 2018
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD 17 NASDAQ:CLFD
Slide 18: Thank You
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Thank You Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 18
Slide 19: Company Contact
FieldReport / Fiscal Q4 and FY 2018 Earnings Call / November 8, 2018 NASDAQ:CLFD Company Contact: Cheri Beranek President & CEO Clearfield, Inc. IR@clfd.net Investor Relations: Matt Glover or Najim Mostamand, CFA Liolios Group, Inc. (949) 574 - 3860 CLFD@liolios.com NASDAQ:CLFD 19