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

Note 7 - Major Customer Concentration

3 Months Ended

Dec. 31, 2017

Note

Major Customer Concentration

The following table summarizes customers comprising

10%

or more of net sales for the

three

months ended

December 31, 2017

and

December 31, 2016:

As of

December 31, 2017,

Customers A and B accounted for

15%

and

14%

of accounts receivable, respectively. As of

September 30, 2017,

Customer B accounted for

19%

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