Clearfield, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2024
May 02, 2024 at 04:01 pm EDT
Share
Clearfield, Inc. reported earnings results for the second quarter and six months ended March 31, 2024. For the second quarter, the company reported sales was USD 36.91 million compared to USD 71.81 million a year ago. Net loss was USD 5.91 million compared to net income of USD 10.36 million a year ago. Basic loss per share from continuing operations was USD 0.4 compared to basic earnings per share from continuing operations of USD 0.67 a year ago. Diluted loss per share from continuing operations was USD 0.4 compared to diluted earnings per share from continuing operations of USD 0.67 a year ago.
For the six months, sales was USD 71.14 million compared to USD 157.75 million a year ago. Net loss was USD 11.18 million compared to net income of USD 24.62 million a year ago. Basic loss per share from continuing operations was USD 0.75 compared to basic earnings per share from continuing operations of USD 1.68 a year ago. Diluted loss per share from continuing operations was USD 0.75 compared to diluted earnings per share from continuing operations of USD 1.67 a year ago.
Clearfield, Inc. designs, manufactures and distributes fiber protection, fiber management and fiber delivery solutions to enable fiber-fed deployment throughout the broadband service provider space primarily across North America. It has two segments: the Clearfield Operating (Clearfield) and the Nestor Cables Operating (Nestor). Clearfield segment is focused on providing fiber management, fiber protection and fiber delivery products that accelerate the turn-up of fiber-based networks in residential homes, businesses and network infrastructure on the wireline and wireless access network. It offers a portfolio of fiber products that allow service providers to build fiber networks faster, meet service delivery demands, and align build costs with take rates. Nestor segment manufactures fiber optic and copper telecommunication cables and equipment, which it distributes to telecommunication operators, network owners, electric companies, building contractors and industrial companies.