Clearfield, Inc. (NASDAQ:CLFD)

Thrid Quarter 2011 Results

Revenue for the third quarter of fiscal 2011 was $10,125,000 in comparison to $6,778,000 for the third quarter of fiscal 2010, an increase of 49%.

Net income increased $649,000, or 103%, to $1,278,000 for the quarter ended June 30, 2011, compared to $629,000 for the quarter ended June 30, 2010.

Net income per share of $0.10 vs $0.05 in 2010

"We are very pleased with our 50% revenue growth for this quarter and year-to-date period. Our success is based upon increasing acceptance of our FieldSmart® fiber management architecture and FiberDeep^TM fiber connectivity solutions throughout our customers' network. The product line continues to earn acceptance from small and large accounts alike. Networks, such as those at Venture Communications in South Dakota with a thousand access lines to Cincinnati Bell's network of 150,000 fiber lines and growing, demonstrate the scalability of our platform. Core to our success is the personal relationships we are building with the engineers responsible for these networks, but we are also pleased with the strong reseller partnerships we are building with distributors and original equipment manufacturers that enable us to reach an even broader base of business.