Clearfield, Inc. (NASDAQ: CLFD) reported its financial results for the fiscal year and fourth quarter ended September 30, 2026, in a Form 8-K filed on November 10, 2026. The company reported net sales from continuing operations of $151.9 million for fiscal year 2026, a slight increase of 1% compared to $150.1 million in the prior year. However, the fourth quarter of fiscal 2026 saw a decline in net sales, with continuing operations generating $39.3 million, down 4% from $41.1 million in the same period last year.
Gross profit margins for the full year decreased to 32.0% from 33.7% in fiscal 2025. This decline was attributed to higher product costs absorbed during the latter part of the fiscal year. Net income from continuing operations for fiscal 2026 was $2.1 million, or $0.16 per diluted share, significantly lower than the $6.3 million, or $0.45 per diluted share, reported in fiscal 2025. The company reported a net loss from continuing operations of $73,000, or $0.00 per diluted share, for the fourth quarter of fiscal 2026.
Order backlog increased significantly during the fiscal year. As of September 30, 2026, the backlog stood at $43.3 million, representing a 75% increase from the $24.7 million backlog at the end of the prior fiscal year. The company noted that it began shipments against a previously announced $22 million data center order, marking a milestone in its data center business expansion. Performance for the year and quarter reflected growth in the Large Regional segment, partly offset by softness in the MSO market.
Clearfield provided guidance for fiscal 2027, projecting net sales between $195 million and $205 million. This represents just over 30% growth from fiscal year 2026 revenue at the midpoint of the guidance. The company also expects net income per share to range from $0.25 to $0.46 for fiscal 2027. Management highlighted that the guidance reflects expectations regarding the data center environment, supply chain constraints, and potential tariff impacts.
In other company news, President and Chief Executive Officer Cheri Beranek announced her plans to retire effective March 31, 2027, or earlier upon the appointment of a successor. She will continue as President and CEO Emeritus to support the transition. The company noted that it has strengthened its financial position over the past three years, generating approximately $41 million in cumulative free cash flow and returning $65 million to shareholders through share repurchases. As of September 30, 2026, Clearfield held $157 million in cash and investments with no debt.
