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Balance Sheet: $19,518,000 in cash, cash equivalents and investments at March 31, 2013 and no debt.
MINNEAPOLIS, April 25, 2013 (GLOBE NEWSWIRE) -- Clearfield, Inc. (Nasdaq:CLFD), the specialist in fiber management and connectivity platforms for communications providers, today announced results for its second quarter of fiscal year 2013, which ended March 31, 2013.
Revenue for the second quarter 2013 was $10,514,000 in comparison to $7,112,000 for the second quarter 2012, an increase of 48%. Gross profit was $4,215,000 for the second quarter of 2013, in comparison to $2,719,000 for the second quarter of 2012, an increase of 55%. Gross profit percent for the second quarter 2013 was 40.1%, up from 38.2% in second quarter 2012. Operating expenses were $3,266,000 for the second quarter 2013, in comparison to $2,572,000 from the second quarter 2012, an increase of 27%. Operating income was $949,000 for the second quarter of fiscal 2013, up $802,000, or 546%, from $147,000 recorded in the second quarter of 2012. Income tax expense was $427,000 for the second quarter of 2013, an increase of $386,000 from $41,000 recorded in the second quarter of 2012. Net income was $545,000 for the second quarter 2013, compared to net income of $132,000 in the second quarter 2012.