Clearfield, Inc. (NASDAQ:CLFD) Q3 2019 Earnings Conference Call - Final Transcript
Nov 07, 2019 • 05:00 pm ET
high single digits near the year-end. We're not providing long-term revenue guidance at this time. We anticipate that as part of our Coming of Age initiative that our increase in operational expenditures will level off in the latter half of fiscal year 2020, enabling this acceleration in margin improvement to continue with mid to high single-digit earnings to continue as our Coming of Age plan matures in 2021.
So in conclusion, fiscal 2019 was a banner year for Clearfield, where we returned to double-digit revenue growth, achieved our financial guidance and gained meaningful traction in the Tier one market. As we look ahead to fiscal 2020, we are well positioned for industry-leading solutions, a strong competitive position and a proven business model to capitalize on the disruptive growth opportunities within the fiber optics industry. And with that, we're ready to open the call for your questions. Operator?