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Balance Sheet: $20,547,000 in cash, cash equivalents and investments at June 30, 2013 and no debt.
MINNEAPOLIS, July 25, 2013 (GLOBE NEWSWIRE) -- Clearfield, Inc. (Nasdaq:CLFD), the specialist in fiber management and connectivity platforms for communications providers, today announced results for its third quarter of fiscal year 2013, which ended June 30, 2013.
Revenue for the third quarter 2013 was $13,535,000 in comparison to $10,794,000 for the third quarter 2012, an increase of 25%. Gross profit was $5,629,000 for the third quarter of 2013, in comparison to $4,557,000 for the third quarter of 2012, an increase of 24%. Gross profit percent for the third quarter 2013 was 41.6%, down from 42.2% in third quarter 2012. Operating expenses were $3,833,000 for the third quarter 2013, in comparison to $2,774,000 from the third quarter 2012, an increase of 38%. Operating income was $1,796,000 for the third quarter of fiscal 2013, up $14,000, or 1%, from $1,783,000 recorded in the third quarter of 2012. Income tax expense was $671,000 for the third quarter of 2013, an increase of $607,000 from $64,000 recorded in the third quarter of 2012. Net income was $1,147,000 for the third quarter 2013, compared to net income of $1,742,000 in the third quarter 2012.