Clearfield, Inc. reported net sales for the first quarter of fiscal 2025 increased 4% to $35.5 million, up from $34.2 million in the same year-ago quarter. The company's gross margin significantly improved to 23.1% from 13.7% in the prior year, primarily due to a $2.3 million reduction in excess inventory charges.
The company reported a net loss of $1.9 million, or ($0.13) per diluted share, for the first quarter of fiscal 2025, an improvement from a net loss of $5.3 million, or ($0.35) per diluted share, in the same year-ago quarter. Operating expenses decreased by 5.5% year-over-year to $12.2 million.
Clearfield reiterated its annual revenue guidance for fiscal 2025, maintaining the range of $170 million to $185 million. For the second quarter of fiscal 2025, the company expects net sales between $37 million and $40 million and a net loss per share between ($0.16) and ($0.21).
The company noted that a tariff on Chinese goods went into effect on February 4, 2025, but stated that its guidance does not yet account for potential impacts. Clearfield believes its dual sourcing capabilities and diversified supply chain, including Mexican and U.S. manufacturing sites, will help mitigate potential cost increases.
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