Clearfield CEO Cheri Beranek Named Ernst & Young Entrepreneur Of The Year(R) 2012 Finalist

Beranek Recognized for Leadership in Rebranding and Establishing Clearfield as Profitable Entity in Telecommunications Industry

PLYMOUTH, Minn., May 3, 2012 (GLOBE NEWSWIRE) -- Clearfield, Inc. today announced that President and CEO Cheri Beranek was named a finalist in the Ernst & Young Entrepreneur Of The Year^® 2012 program in the Upper Midwest. The award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.

Beranek, who was selected from a strong pool of nominations by a panel of independent judges, has been widely recognized for her success in turning around the company. Her direction to rebrand Clearfield (formerly APA Cables and Networks) and re-establish shareholder confidence in the firm by establishing profitable revenue growth and generating the vision for the firm's potential, is credited in large part with Clearfield's success.

Awards will be presented at a special gala on June 14, 2012 at the Marriott City Center hotel in Minneapolis. Now in its 26th year, the Entrepreneur Of The Year Program has expanded to recognize business leaders in more than 140 cities in more than 50 countries throughout the world.

Regional award winners are eligible for consideration for the Ernst & Young National Entrepreneur Of The Year Program. Award winners in several national categories, as well as the Ernst & Young National Entrepreneur Of The Year Overall Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 17, 2012. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.

About Clearfield, Inc.

Clearfield, Inc. (Nasdaq:CLFD) designs, manufactures and distributes fiber optic management products for the communications networks of leading ILECS, CLECs, MSO/cable TV companies and mobile broadband providers. We help service providers solve the Fiber Puzzle, which is how to reduce high costs associated with deploying, managing, protecting and scaling a fiber optic network to deliver the mobile, residential and business services customers want. Based on the patented Clearview™ Cassette, our unique single-architected, modular fiber management platform is designed to lower the cost of broadband deployment and maintenance by consolidating, protecting and distributing incoming and outgoing fiber circuits and enable our customers to scale their operations as their subscriber revenues increase. Headquartered in Plymouth, MN, Clearfield deploys millions of fiber ports each year throughout North America.

About Ernst & Young Entrepreneur Of The Year^®

Ernst & Young Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com.

CONTACT: Gary Young
         612-247-8123
         garydyoung@comcast.net

Released May 3, 2012