Clearfield (CLFD) has reported 94.78 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $2.67 million, or $0.20 a share in the quarter, compared with $1.37 million, or $0.10 a share for the same period last year.     

Revenue during the quarter surged 33.49 percent to $21.05 million from $15.77 million in the previous year period. Gross margin for the quarter expanded 378 basis points over the previous year period to 45.47 percent. Total expenses were 85.05 percent of quarterly revenues, down from 87.19 percent for the same period last year. This has led to an improvement of 214 basis points in operating margin to 14.95 percent.

Operating income for the quarter was $3.15 million, compared with $2.02 million in the previous year period.

"Representing our ninth consecutive year of profitable growth, fiscal 2016 saw a continued expansion of our revenue among service providers deploying optical fiber throughout wireline, wireless and cable TV technologies," said Cheri Beranek, chief executive officer of Clearfield.

The company has spent $1.64 million cash to meet investing activities during the year as against cash outgo of $5.74 million in the last year.

Cash flow from financing activities was $0.03 million for the year as against cash outgo of $1.22 million in the last year period.

Cash and cash equivalents stood at $28.01 million as on Sep. 30, 2016, up 55.02 percent or $9.94 million from $18.07 million on Sep. 30, 2015.

Working capital increases
Clearfield has recorded an increase in the working capital over the last year. It stood at $43.77 million as at Sep. 30, 2016, up 22.54 percent or $8.05 million from $35.72 million on Sep. 30, 2015. Current ratio was at 6.96 as on Sep. 30, 2016, down from 8.09 on Sep. 30, 2015.