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Technology / Networks

Clearfield Q4 and annual revenue up

Revenue for the fourth quarter ended September 30, 2008 was $7.19m, an increase of 33%, in comparison to $5.39m for the similar period in 2007. Gross profit for the fourth quarter of 2008 was $2.53m, an increase of 43%, compared to $1.77m for the same period of 2007.

The company reported a GAAP net income of $1.51m, or $0.13 per diluted share, for the fiscal year ended September 30, 2008, compared to a GAAP net loss of $2.92m, or $0.25 per diluted share, for fiscal 2007.

For the fourth quarter of 2008, GAAP net income was $754,660, or $0.06 per diluted share, compared to GAAP net income$119,500, or $0.01 per diluted share, for the same quarter of fiscal 2007.

Cheri Podzimek, president and CEO of Clearfield, said: Our strong financial performance is a testament to the dedicated energy and professionalism of the Clearfield employee community. The fiber to the premise marketplace continues to offer growth opportunities for companies with technologies designed for the future of broadband deployment.

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CBR Staff Writer

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