Clearfield, Inc. reported unaudited earnings results for the first quarter ended December 31, 2014. Net Sales were $13,986,620 against $16,147,622 a year ago. Income from operations was $1,616,517 against $3,072,626 a year ago.

Interest income was $25,856 against $19,700 a year ago. Income before income taxes was $1,642,373 against $3,092,326 a year ago. Net income was $1,069,373 against $1,982,326 a year ago.

Diluted was $0.08 against $0.15 a year ago. Due to net operating loss utilization, income tax expense primarily resulted in a non-cash effect on the operating cash flow in the first quarters of both fiscal 2015 and 2014.