Clearfield, Inc. (CLFD) stock is jumping to 11.41% in premarket – What’s influencing it?

Clearfield, Inc. (CLFD) experienced an increase of 11.41% in the premarket because the company reported Fiscal First Quarter 2022 Results. However, the last trading session concluded at $48.65 with a decrease of 3.15%.  

Fiscal First Quarter 2022 Results by CLFD

CLFD announced Fiscal First Quarter 2022 Results on 27^th January 2022. The company recorded that the net revenue has inclined by 89% owing to an increase of 81 percent in community broadband revenue. Not only this but the net income for the first fiscal quarter of 2022 reached $10.4 million. Furthermore, eco-friendly products continue to be in high demand. As of December 31, 2021, the order backlog was $101 million, $66 million more than that of September 30, 2021.

Regional broadband service providers in the Community Broadband market account for a substantial portion of the backlog. While traditional broadband providers mostly serve a single state, regional broadband providers serve a multi-state market. Last but not the least, CLFD feels that this is a big growth opportunity for Clearfield because these organizations have not before deployed fiber at this scale.

Latest News by CLFD

In a market that tends to adapt and expand with each passing quarter, Clearfield achieved another record-setting financial result in the first quarter of fiscal 2022. CLFD thanks its workers for their unwavering commitment to best-in-class customer service, high-quality goods, and the ability to easily adjust to the customers’ needs. Lastly, CLFD is well-positioned to continue benefiting from the expanding demand for fiber in the business.

IBD’s 100 Best Companies of 2021 – More About it

CLFD reported on 6^th January 2022 that Investor’s Business Daily (IBD) has named it one of the top 100 companies in 2021. The telecommunications industry is going through a once-in-a-generation investment cycle, and CLFD is able to execute solutions that lower costs and greatly reduce deployment time has made CLFD an obvious choice for operators looking to take advantage of the opportunities. Lastly, CLFD is thrilled to join such an exceptional collection of growth-focused firms on this list for 2021.