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CLFD - Clearfield up 17% on record quarterly revenue positive outlook for fiscal 2021
Clearfield Inc.
Clearfield (NASDAQ:CLFD) reports fiscal Q3 results that beat top and bottom line estimates.
Fiscal Q3 highlights: Revenue up 19% y/y to 26M, driven by strong growth in MSO and community broadband markets.
Net Income rose 130% for the quarter to $3.0M.
Gross profit was $10.8M vs. $8.4M year ago and gross margin of 41.5% vs. 38.4%.
"Our success in fiscal third quarter has given us significant momentum for fiscal fourth quarter, leading to a positive outlook for fiscal 2021" says President and CEO, Cheri Beranek.