Clearfield, Inc. · NASDAQ:CLFD
Clearfield — Q4 FY2019 Earnings Presentation
27 slides from Clearfield's earnings presentation, Nov 12, 2019
Slide 1: Fiscal Q4 and FY 2019 Earnings Call
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD The Industry Leader in Craft Friendly Fiber Optic Management and Connectivity Solutions Fiscal Q4 and FY 2019 Earnings Call FieldReport
Slide 2: Important Cautions Regarding Forward-Looking Statements
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 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 provision
Slide 3: Welcome
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Welcome Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 3
Slide 4: FQ4 and FY 2019 Review
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD FQ4 and FY 2019 Review NASDAQ:CLFD 4 • Revenue up 7% in FQ4 and 10% in FY 2019 • Experienced 31% growth in National Carrier market , driven by strong market adoption of FieldShield and other fiber connectivity solu
Slide 5: Revenue Comparison by Market
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Revenue Comparison by Market NASDAQ:CLFD 5 1) Based on revenue of $85.0 million and Point of Sales (POS) reporting from distributors who resell our product line into these markets. FY 19 Revenue Composition 1 Commu
Slide 6: Financial Update
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Financial Update Dan Herzog CHIEF FINANCIAL OFFICER NASDAQ:CLFD 6
Slide 7: Quarterly Financial Performance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Quarterly Financial Performance 7 NASDAQ:CLFD $22.5 $20.1 $19.1 $21.9 $24.0 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Revenue +22% +19% +13% +2% +7% Year - over - Year Growth Rate Note: Dollar figures in millions
Slide 8: Quarterly Financial Performance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Quarterly Financial Performance 8 NASDAQ:CLFD $22.5 $20.1 $19.1 $21.9 $24.0 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Revenue +22% +19% +13% +2% +7% Year - over - Year Growth Rate $8.6 $7.9 $7.0 $8.4 $9.3 Q4-18 Q1-19 Q2-19 Q3-
Slide 9: Quarterly Financial Performance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Quarterly Financial Performance 9 NASDAQ:CLFD $22.5 $20.1 $19.1 $21.9 $24.0 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Revenue +22% +19% +13% +2% +7% Year - over - Year Growth Rate $8.6 $7.9 $7.0 $8.4 $9.3 Q4-18 Q1-19 Q2-19 Q3-
Slide 10: Quarterly Financial Performance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Quarterly Financial Performance 10 NASDAQ:CLFD $22.5 $20.1 $19.1 $21.9 $24.0 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Revenue +22% +19% +13% +2% +7% Year - over - Year Growth Rate $8.6 $7.9 $7.0 $8.4 $9.3 Q4-18 Q1-19 Q2-19 Q3
Slide 11: Annual Financial Performance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Annual Financial Performance 11 NASDAQ:CLFD $60.3 $75.3 $73.9 $77.7 $85.0 2015 2016 2017 2018 2019 Revenue +4% +25% - 2% +5% +10% Year - over - Year Growth Rate Note: Dollar figures in millions
Slide 12: Annual Financial Performance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Annual Financial Performance 12 NASDAQ:CLFD $24.9 $32.9 $30.3 $31.0 $32.7 2015 2016 2017 2018 2019 Gross Profit 41.2% 43.7% 40.9% 39.9% 38.4% Gross Profit (%) Note: Dollar figures in millions $60.3 $75.3 $73.9 $77.
Slide 13: Annual Financial Performance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Annual Financial Performance 13 NASDAQ:CLFD $24.9 $32.9 $30.3 $31.0 $32.7 2015 2016 2017 2018 2019 Gross Profit 41.2% 43.7% 40.9% 39.9% 38.4% Gross Profit (%) Note: Dollar figures in millions $60.3 $75.3 $73.9 $77.
Slide 14: Annual Financial Performance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Annual Financial Performance 14 NASDAQ:CLFD $24.9 $32.9 $30.3 $31.0 $32.7 2015 2016 2017 2018 2019 Gross Profit 41.2% 43.7% 40.9% 39.9% 38.4% Gross Profit (%) Note: Dollar figures in millions $60.3 $75.3 $73.9 $77.
Slide 15: Strong Balance Sheet Supports Profitable Growth
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Strong Balance Sheet Supports Profitable Growth • $47.5 million in cash and cash investment balances • Zero Debt NASDAQ:CLFD 15 $ in Millions Cash and Investment Balances $33.1 $34.3 $44.2 $44.3 $35.5 $47.5 2014 20
Slide 16: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 16 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate
Slide 17: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 17 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate Enhancin
Slide 18: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 18 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate Enhancin
Slide 19: Fiscal 2020 Outlook & Guidance
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Fiscal 2020 Outlook & Guidance NASDAQ:CLFD 19 $ 92M - $95M REVENUE $60.3 $75.3 $73.9 $77.7 $85.0 $ 92 - $95 2015 2016 2017 2018 2019 2020F Revenue Growth Outlook ($ in Millions) 37% - 38% GROSS MARGINS 31% - 33% OP
Slide 20: Q&A
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Q&A Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 20 Dan Herzog CHIEF FINANCIAL OFFICER
Slide 21: Earnings Call / November 7, 2019
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD 21 NASDAQ:CLFD
Slide 22: Earnings Call / November 7, 2019
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD 22 NASDAQ:CLFD
Slide 23: Earnings Call / November 7, 2019
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD 23 NASDAQ:CLFD
Slide 24: Earnings Call / November 7, 2019
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD 24 NASDAQ:CLFD
Slide 25: Earnings Call / November 7, 2019
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD 25 NASDAQ:CLFD
Slide 26: Thank You
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Thank You Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 26
Slide 27: Contact Us
FieldReport / Fiscal Q4 & Full Year 2019 Earnings Call / November 7, 2019 NASDAQ:CLFD Contact Us NASDAQ:CLFD 27 COMPANY CONTACT: Cheri Beranek President & CEO Clearfield, Inc. IR@clfd.net INVESTOR RELATIONS: Matt Glover and Tom Colton Gateway Investor Relations (949) 574 - 3860 CLFD@gatewayir.com