Clearfield Announces Buyback - Quick Facts

(RTTNews) - Clearfield, Inc. (CLFD), a specialist in fiber management and connectivity platforms for communications providers, said its board of directors has approved a stock repurchase program under which it would begin purchasing up to $8 million of its outstanding shares of common stock. The repurchase will be funded by cash on hand.

Cheri Beranek, Chief Executive Officer and President, said, "Clearfield cash and cash equivalent increased by more than $10 million in fiscal year 2014. The combination of Clearfield's current market valuations, our strong cash balances and cash flow outlook lead us to believe that this stock repurchase program is an appropriate use of cash."