Clearfield, Inc. · NASDAQ:CLFD
Clearfield — Q1 2018 Earnings Presentation
19 slides from Clearfield's earnings presentation, Jan 25, 2018
Slide 1: Fiscal Q1 2018 Earnings Call FieldReport
NASDAQ:CLFD Leader in Fiber Optic Management & Connectivity Solutions Fiscal Q1 2018 Earnings Call FieldReport January 25, 2018 NASDAQ : CLFD
Slide 2: Important Cautions Regarding Forward-Looking Statements
NASDAQ:CLFD Important Cautions Regarding Forward - Looking Statements Forward - looking statements contained herein and in the FieldReport are made pursuant to the safe harbor provisions of the Privat e Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “believe,” “anticipate,” “e
Slide 3: Welcome
NASDAQ:CLFD Welcome 3 Cheri Beranek President & CEO
Slide 4: FQ1 2018 Review: Gaining Share in Core Markets
NASDAQ:CLFD FQ1 2018 Review: Gaining Share in Core Markets, While Other Markets Remain Distracted 4 • Continued dominance in core wireline business, where company is expanding market share • Other markets remain distracted, with M&A activity and 5G planning contributing to continued slowdown in dema
Slide 5: Financial Update
NASDAQ:CLFD Financial Update 5 Dan Herzog Chief Financial Officer
Slide 6: Quarterly Financial Performance
NASDAQ:CLFD Quarterly Financial Performance $18.3M $17.7M $19.6M $18.4M $16.9M Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Revenue +16% +4% - 9% - 13% - 8% Year - over - Year Growth Rate 6
Slide 7: Quarterly Financial Performance
NASDAQ:CLFD Quarterly Financial Performance $7.2M $7.4M $7.9M $7.7M $7.1M Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Gross Profit 39.5% 42.2% 40.5% 41.7% 42.1% Gross Profit (%) 7 $18.3M $17.7M $19.6M $18.4M $16.9M Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Revenue +16% +4% - 9% - 13% - 8% Year - over - Year Growth Rate
Slide 8: Strategic Investment in Growth
NASDAQ:CLFD Strategic Investment in Growth $6.0M $6.2M $6.6M $6.2M $6.5M Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Operating Expenses % of Revenue 8
Slide 9: Quarterly Financial Performance
NASDAQ:CLFD Quarterly Financial Performance $0.9M $0.9M $0.8M $1.3M $0.9M Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Net Income 4.8% 5.1% 4.1% 6.8% 5.6% Net Margin 9 $18.3M $17.7M $19.6M $18.4M $16.9M Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Revenue +16% +4% - 9% - 13% - 8% Year - over - Year Growth Rate $7.2M $7.4M $7.9M
Slide 10: Balance Sheet Supports Growth
NASDAQ:CLFD Balance Sheet Supports Growth $ in Millions Dec. 31, 2017 Sep. 30, 2017 Cash & Investments $46.2 $ 44.3 Total Assets $69.2 $ 69.5 Stockholders’ Equity $ 66.1 $ 64.5 Total Debt $0 $0 Total Capitalization $ 66.1 $ 64.5 $22.6 $33.1 $34.3 $44.2 $44.3 $46.2 2013 2014 2015 2016 2017 Q1-18 Cash
Slide 11: Operational Update and Outlook
NASDAQ:CLFD Operational Update and Outlook 11 Cheri Beranek President & CEO
Slide 12: FQ1 2018 Revenue Composition & Market Overview
NASDAQ:CLFD FQ1 2018 Revenue Composition & Market Overview Based on revenue of $16.9 million for the fiscal quarter ended Dec. 31, 2017. 13% WIRELESS & CABLE TV 8% INTERNATIONAL 5% WIRELINE – TIER 1 3% ALTERNATIVE 62% WIRELINE 9% OTHER 12 • Wireless service providers • MSOs • Competitive local excha
Slide 13: Phase I, II and III Strategy
NASDAQ:CLFD Phase I (2008 - 2015) Phase II (2015+) Phase III (2018+) • Rebuild the company • Restore balance sheet and develop profitable and sustainable growth business • Build and expand the value proposition through patented and cost - minimizing solutions • Expand into national carrier market th
Slide 14: Expanding Our Distribution Channel Program
NASDAQ:CLFD Expanding Our Distribution Channel Program 14
Slide 15: Fiscal 2018 Outlook and Guidance
NASDAQ:CLFD Fiscal 2018 Outlook and Guidance • Fiscal year outlook maintained at 5 % revenue growth: – Q2 revenue to be flat compared to last year with double digit growth rebounding to our historical CAGR by year - end – Wireline to continue growing at high single digits – Wireless market to contin
Slide 16: Q&A
NASDAQ:CLFD Q&A 16 Cheri Beranek President & CEO Dan Herzog Chief Financial Officer
Slide 17: NASDAQ:CLFD 17
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Slide 18: Thank You
NASDAQ:CLFD Thank You 18 Cheri Beranek President & CEO
Slide 19: Company Contact
NASDAQ:CLFD Company Contact: Cheri Beranek CEO & President Clearfield, Inc. IR@clfd.net Investor Relations: Matt Glover or Najim Mostamand, CFA Liolios Group, Inc. (949) 574 - 3860 CLFD@liolios.com 19