Clearfield, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note A - Summary Of Significant Accounting Policies (Tables)

Note A - Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2012

Investments Classified by Contractual Maturity Date [Table Text Block]

Less than one year	$	9,107,000
1-3 years		4,572,000
Total	$	13,679,000

Summary of Valuation Allowance [Table Text Block]

	Balance at Beginning of Period		Charged to Cost and Expenses		Deductions		Balance at End of Period
September 30, 2012	$	97,950	$	-	$	-	$	97,950
September 30, 2011		97,950		-		-		97,950

Schedule of Inventory, Current [Table Text Block]

	September 30, 2012		September 30, 2011
Raw materials	$	2,300,380	$	2,158,647
Work-in-process		336,298		304,793
Finished goods		334,936		293,711
	$	2,971,614	$	2,757,151

Property, Plant and Equipment, Estimated Useful Lives

	Years
Equipment	3 – 7
Leasehold improvements	7-10 or life of lease
Vehicles	3

Property, Plant and Equipment [Table Text Block]

	September 30,		September 30,
	2012		2011
Manufacturing Equipment		1,316,768		1,188,965
Office Equipment		1,823,283		1,720,006
Leasehold Improvements		127,883		127,883
Vehicles		171,742		133,199
		3,439,676		3,170,053
Less accumulated depreciation		2,332,208		2,184,022
	$	1,107,468	$	986,031

Depreciation expense	$	403,927	$	358,502

Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]

Year ended September 30,	2012		2011
Net income	$	7,701,194	$	6,167,446
Weighted average common shares		12,371,371		12,085,491
Dilutive potential common shares		418,798		664,442
Weighted average dilutive common shares outstanding		12,790,169		12,749,933
Earnings per share:
Basic	$	0.62	$	0.51
Diluted	$	0.60	$	0.48

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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