Clearfield, Inc. · NASDAQ:CLFD
Clearfield — Q1 2019 Earnings Presentation
22 slides from Clearfield's earnings presentation, Feb 1, 2019
Slide 1: Fiscal Q1 2019 Earnings Call
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD The Industry Leader in Craft Friendly Fiber Optic Management and Connectivity Solutions Fiscal Q1 2019 Earnings Call FieldReport
Slide 2: Important Cautions Regarding Forward-Looking Statements
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 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 the Pri
Slide 3: Welcome
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Welcome Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 3
Slide 4: FQ1 2019 Review
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD FQ1 2019 Review NASDAQ:CLFD 4 • Revenue of $20.1 million, up 19% year - over - year • Active cabinet sales continue to meet revenue and strategic expectations • Income from Operations up 82%, reflecting strong topline growth a
Slide 5: Q1 Year-Over-Year Revenue by Market
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD NASDAQ:CLFD 5 Q1 Year - Over - Year Revenue by Market 1) Based on trailing twelve month revenue of $80.9 million and Point of Sales (POS) reporting from distributors who resell our product line into these markets. Trailing Twe
Slide 6: Financial Update
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Financial Update Dan Herzog CHIEF FINANCIAL OFFICER NASDAQ:CLFD 6
Slide 7: Quarterly Financial Performance
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Quarterly Financial Performance 7 NASDAQ:CLFD $16.9 $16.8 $21.5 $22.5 $20.1 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Revenue - 8% - 5% +10% +22% +19% Year - over - Year Growth Rate Note: Dollar figures in millions
Slide 8: Quarterly Financial Performance
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Quarterly Financial Performance 8 NASDAQ:CLFD $16.9 $16.8 $21.5 $22.5 $20.1 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Revenue - 8% - 5% +10% +22% +19% Year - over - Year Growth Rate $7.1 $6.8 $8.5 $8.6 $7.9 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 G
Slide 9: Quarterly Financial Performance
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Quarterly Financial Performance 9 NASDAQ:CLFD $16.9 $16.8 $21.5 $22.5 $20.1 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Revenue - 8% - 5% +10% +22% +19% Year - over - Year Growth Rate $7.1 $6.8 $8.5 $8.6 $7.9 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 G
Slide 10: Quarterly Financial Performance
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Quarterly Financial Performance 10 NASDAQ:CLFD $0.9 - $0.3 $1.8 $1.9 $1.0 Q1-18 Q2-18* Q3-18 Q4-18 Q1-19 Net Income 5.6% - 1.8% 8.2% 8.4% 5.0% Net Margin $16.9 $16.8 $21.5 $22.5 $20.1 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Revenue - 8%
Slide 11: Strong Balance Sheet Supports Profitable Growth
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Strong Balance Sheet Supports Profitable Growth • Zero Debt • $12 million stock repurchase program in place ($5.4 million remains) NASDAQ:CLFD 11 $22.6M $33.1M $34.3M $44.2M $44.3M $35.5M $42.1M 2013 2014 2015 2016 2017 2018 Q
Slide 12: Operational Update and Outlook
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Operational Update and Outlook Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 12
Slide 13: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 13 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, and maintaining steady growth rate of 8 - 12% Enhanci
Slide 14: HetNet: Small Cells are the 5G Make Ready
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD NASDAQ:CLFD 14 HetNet: Small Cells are the 5G Make Ready Clearfield’s opportunity is to provide the fiber management and connectivity solutions that speed the rate of deployment for 5G networks Graphic Source : NEC
Slide 15: Fiscal 2019 Outlook & Guidance
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Fiscal 2019 Outlook & Guidance NASDAQ:CLFD 15 $83M - $87M REVENUE $58.0 $60.3 $75.3 $73.9 $77.7 $83 - $87 2014 2015 2016 2017 2018 2019F Revenue Growth Outlook ($ in Millions) 37% - 38% GROSS MARGINS 31% - 33% OPERATING EXPENS
Slide 16: Q&A
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Q&A Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 16 Dan Herzog CHIEF FINANCIAL OFFICER
Slide 17: January 31, 2019
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD 17 NASDAQ:CLFD
Slide 18: January 31, 2019
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD 18 NASDAQ:CLFD
Slide 19: January 31, 2019
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD 19 NASDAQ:CLFD
Slide 20: January 31, 2019
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD 20 NASDAQ:CLFD
Slide 21: Thank You
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Thank You Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 21
Slide 22: Contact Us
FieldReport / Fiscal Q1 2019 Earnings Call / January 31, 2019 NASDAQ:CLFD Contact Us NASDAQ:CLFD 22 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