Clearfield, Inc. Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Major Customer Concentration

3 Months Ended

Dec. 31, 2016

Note

Major Customer Concentration

The following table summarizes customers comprising

10%

or more of net sales for the

three

months ended

December

31,

2016

and

December

31,

2015:

As of

December

31,

2016,

Customers B, C, and A accounted for

19%,

15%,

and

11%

of accounts receivable, respectively. As of

September

30,

2016,

Customers A and B accounted for

18%

and

12%

of accounts receivable, respectively. Customers A and B are both distributors.