Clearfield Inc
For the period ended Sep 30, 2024. Filed Nov 15, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Nov 15, 2024
CLFD$30.19-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| CLEARFIELD, INC. | |||
|---|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
| (IN THOUSANDS) | |||
| Year Ended | Year Ended | Year Ended | |
| September 30, | September 30, | September 30, | |
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net (loss) income | $(12,453) | $32,533 | $49,362 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 7,411 | 6,054 | 3,426 |
| Amortization of discount on investments | (4,406) | (3,512) | (42) |
| Deferred taxes | (4,078) | (2,114) | (326) |
| Stock-based compensation | 4,641 | 3,578 | 2,339 |
| Changes in operating assets and liabilities, net of acquired amounts: | |||
| Accounts receivable | 7,799 | 26,277 | (24,234) |
| Inventories, net | 31,990 | (15,083) | (43,744) |
| Other assets | (9,225) | (1,466) | (282) |
| Accounts payable and accrued expenses | 544 | (27,843) | 15,759 |
| Net cash provided by operating activities | 22,223 | 18,424 | 2,258 |
| Cash flows from investing activities | |||
| Purchases of property, plant and equipment and intangible assets | (9,567) | (8,384) | (9,148) |
| Purchases of investments | (159,393) | (210,923) | (248) |
| Proceeds from sales and maturities of investments | 162,064 | 107,060 | 17,386 |
| Business acquisition, net of cash acquired | - | - | (16,187) |
| Net cash used in investing activities | (6,896) | (112,247) | (8,197) |
| Cash flows from financing activities | |||
| Issuance of long-term debt | 2,171 | (16,700) | 16,700 |
| Repayment of long-term debt | (2,171) | - | - |
| Proceeds from issuance of common stock under employee stock purchase plan | 586 | 611 | 544 |
| Repurchase of shares for payment of withholding taxes for vested restricted stock grants | (493) | (1,220) | (1,406) |
| Withholding related to exercise of stock options | (9) | (491) | (5,183) |
| Issuance of stock under equity compensation plans | 1 | 954 | - |
| Net borrowings and repayments of factoring liability | (3,617) | 1,586 | (1,258) |
| Net proceeds from issuance of common stock | - | 130,262 | - |
| Repurchase of common stock | (33,374) | - | - |
| Net cash (used in) provided by financing activities | (36,906) | 115,002 | 9,397 |
| Effect of exchange rates on cash | (81) | (2) | (24) |
| (Decrease) Increase in cash and cash equivalents | (21,660) | 21,177 | 3,434 |
| Cash and cash equivalents, beginning of year | 37,827 | 16,650 | 13,216 |
| Cash and cash equivalents, end of year | $16,167 | $37,827 | $16,650 |
| Supplemental disclosures for cash flow information | |||
| Cash paid during the year for income taxes | $159 | $12,967 | $13,744 |
| Cash paid for interest | $394 | $463 | $119 |
| Right of use assets obtained through lease liabilities | $4,731 | $3,776 | $12,016 |
| Non-cash financing activities | |||
| Cashless exercise of stock options | $19 | $566 | $1,624 |
SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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