CLEARFIELD, INC.
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $73.9M | $75.3M | $60.3M | $58.0M | $53.4M | $37.5M | $35.2M | $24.4M |
| Cost of Revenue | $43.7M | $42.4M | $35.5M | $33.4M | $31.4M | $22.2M | $20.5M | $15.2M |
| Gross Profit | $30.3M | $32.9M | $24.9M | $24.6M | $22.0M | $15.3M | $14.7M | $9.1M |
| Gross Margin | 40.9% | 43.7% | 41.2% | 42.4% | 41.2% | 40.8% | 41.7% | 37.5% |
| Operating Expenses | ||||||||
| Research & Development | $865.6K | $838.1K | $750.1K | $703.7K | — | — | — | — |
| SG&A Expense | $25.0M | $22.1M | $17.8M | $16.1M | $14.5M | $11.0M | $11.0M | $8.0M |
| Operating Income | $5.3M | $10.7M | $7.1M | $8.5M | $7.4M | $4.3M | $3.7M | $1.1M |
| Operating Margin | 7.2% | 14.3% | 11.7% | 14.7% | 14.0% | 11.4% | 10.6% | 4.6% |
| Interest Expense | — | — | — | — | — | — | — | $820 |
| Pretax Income | $5.6M | $10.9M | $7.2M | $8.6M | $7.5M | $4.4M | $3.9M | $1.3M |
| Income Tax Expense | $1.7M | $2.9M | $2.5M | $3.2M | $2.8M | $-3.3M | $-2.3M | $121.5K |
| Net Income | $3.8M | $8.0M | $4.7M | $5.4M | $4.7M | $7.7M | $6.2M | $1.2M |
| Net Margin | 5.2% | 10.6% | 7.8% | 9.4% | 8.9% | 20.6% | 17.5% | 4.8% |
| EPS (Basic) | $0.28 | $0.60 | $0.35 | $0.42 | $0.38 | $0.62 | $0.51 | $0.10 |
| EPS (Diluted) | $0.28 | $0.59 | $0.34 | $0.40 | $0.36 | $0.60 | $0.48 | $0.09 |
| Shares Outstanding (Basic) | 13.5M | 13.4M | 13.2M | 12.9M | 12.5M | 12.4M | 12.1M | 12.0M |
| Shares Outstanding (Diluted) | 13.7M | 13.7M | 13.6M | 13.6M | 13.1M | 12.8M | 12.7M | 12.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |
What the wise do in the beginning, fools do in the end.