Clearfield, Inc. · NASDAQ:CLFD
Clearfield — Q1 2017 Earnings Presentation
14 slides from Clearfield's earnings presentation, Jan 26, 2017
Slide 1: Clearfield: Leader in Fiber Optic Management & Connectivity Solutions
7 CLEARFIELD Leader in Fiber Optic Management & Connectivity Solutions Hello, this is Cheri Beranek, President and CEO of Clearfield, Welcome to our fiscal first quarter 2017 FieldReport. Before we begin today, I'd like to provide some important cautions regarding forward-looking statements made dur
Slide 2: Forward-looking statements cautions
Certain important factors could havea material impact on the Company's performance, including those set forth in the slide entitled ‘Caution Forward-Looking ” as well as the factors set forth in Clearfield's Annual Report on Form 10-K for the fiscal year ending September 30, 2016 and other filings w
Slide 3: Welcome
Welcome Cheri Beranek President & CEO It's an exciting time for Clearfield. The momentum established in FY 16 continues into this new fiscal year as we prove out how our fiber management and pathvray products reduce the total cost of ownership of broadband networks for telco, cable, wireless and ipa
Slide 4: Financial Update
Financial Update Dan Herzog Chief Financial Officer ‘Thank you, Cheri Now, looking at our financial results in more detail
Slide 5: Quarterly Financial Performance
Quarterly Financial Performance ‘Our revenue inthe fist quarter of fiscal 2017 increased 16% to $18.3 milion from $16.7 milion during the same year-ago period. The improvement for the quarter was driven primarily by an increase in sales to our wireline and wireless customers, which was partially off
Slide 6: Quarterly Financial Performance
Quarterly Financial Performance Gross profi for the fiscal first quarter of 2017 increased 8% to $7.2 milion, or 39.5% of total revenue. This compares to $6.7 million, the same year-ago period. Gross margin for the quarter decreased due to increased sales to Tier 1 ‘customers, overall mix of product
Slide 7: Strategic Investment in Growth: 30% OPEX Model
Strategic Investment in Growth: 30% OPEX Model ‘Our operating expenses for fiscal Q1 were $6.0 million, which was up 28% from the same year-ago quarter wile consistent vith our ‘spending over the last two quarters. The increase over the year ago quarter was mainly due to additional personnel to supp
Slide 8: Quarterly Financial Performance
Quarterly Financial Performance Gross Profit, Net income Revenue ‘Our net income for the fiscal first quarter was $900,000, or $0.06 per diluted share. This compares to $1.5 milion, of $0.11 per diluted ‘share in the same year-ago quarter. ‘Turning now to our balance sheet
Slide 9: Balance Sheet Supports Growth
Balance Sheet Supports Growth Dees ash & investment Bolonces Cash iestments sas saa Tua Asets soa $708 stoctoldereauty saz san san ‘ual Debt so so urcentRavo ws 70 Tangible Book Valor $0.7 $000 Tangible Book eue/Shore | $46 | $425 scenes During the first quarter, our cash and investments decreased m
Slide 10: Operational Update and Outlook
Operational Update and Outlook Cheri Beranek President & CEO ‘Thanks, Dan. As a company, we've been seeing the industry focus increasingly more on optical conneetivity in the access network, whether that includes fiber fo the home, business, antenna, or virtually any desired end joreasing focus, alo
Slide 11: Fiscal Q1 2017 Revenue Composition and Growth Drivers
Fiscal Q1 2017 Revenue Composition and Growth Drivers wreune 56% ALTERNATIVE 4% 9% omen 3% 12% “ 9% 7% py To start with, our wireline business continued to demonstrate solid growth for the quarter, representing a total of 65% of our total revenue of $18.3 milion. OF this amount, 9% came from the Tie
Slide 12: Growth Strategies and Initiatives
Growth Strategies and Initiatives ® ee * (oto deus a @ seorccetmrmtentcae ” a — etereoce xecouns > TOGOU el xpress rom 5504 Oper orm hang oa Ter rawr to perttte newer eastomes Seok r cS A 10 are ber depart the Salesto wines and cable TV prongs ‘package optical components ‘These iitatives are part of
Slide 13: Based on current outlook and pipeline, we forecast
Based on current outlookand pipeline, we forecast + 15% revenue growth: ~ Poste upside he) fom potent apn ses + Operating income to grow with revenue: ~ Corns mshi poston to ~ Longtem 0F0 forced tobe 20% a8 peretage of revene BK WIS ISLE We are maintaining our 15%t revenue outlook for fiscal 2017. W
Slide 14: Contact Us
Contact Us Company Contact: CCheriBeranek CEOS President Clearfield, ine. IR@elfd.net Investor Relations: ‘Matt Glover oF Naj Uolios Group, Ine. (949) 574-3860, Minneapolis, Minnesota In closing, we encourage you to review today's eamings release and filings, and we welcome any questions you may hav