![Clearfield, Inc. [CLFD] reports $32,533.0T profit for year ended Sep 30, 2023](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FCLFD.png&w=1200&q=75)
Clearfield, Inc. [CLFD] has reported $32,533.0T profit for year ended Sep 30, 2023.
The Brooklyn Park, Minnesota based company recorded net profit of $32,533.0T on operating income of $37,287.0T. Earnings per share rose to $15,012,527.0.
In the 12 months ended September 30, 2023, the company reported net sales of $268.7 million, slightly lower than the previous year's net sales of $270.9 million. The cost of sales for the current reporting period was $183.4 million, an increase from the previous year's cost of sales of $157.9 million. As a result, the gross profit for the current period was $85.3 million, compared to $112.9 million in the previous year.
Operating expenses, including selling, general, and administrative costs, amounted to $47.9 million in the current reporting period, slightly lower than the previous year's expenses of $49.1 million. Income from operations for the current period was $37.3 million, a decrease from the previous year's income from operations of $63.8 million.
The company reported a net income of $32.5 million for the current reporting period, compared to $49.4 million in the previous year. This resulted in a decrease in earnings per share for both basic and diluted amounts. The current period's earnings per share were $2.17, down from $3.58 in the previous year for basic earnings per share, and $2.17, down from $3.55 for diluted earnings per share.
It is important to note that the weighted average shares outstanding for the current period increased to 14,975,972 shares for basic earnings per share and 15,012,527 shares for diluted earnings per share, compared to 13,771,665 shares and 13,905,984 shares, respectively, in the previous year.
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