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spk01: With the overall market strength and current visibility we have into our backlog, we believe we can deliver projected annual net sales of $162 million to $169 million in fiscal 2022, representing growth of 15% to 20% over fiscal year 2021 revenue. Including within the backlog are gains within the Tier 2 market as well as other strategic accounts that have multi-year bills. The nature of these purchase orders and our sales backlog not only enhances our visibility, but strengthens our relationships with service providers on their longer-term strategic multi-year initiatives. Notably, this fiscal year 22 outlook does not reflect significant sales volume using funding from government programs like ARDOF or the infrastructure package in Congress. In addition, with the visibility we have into our current sales backlog, we expect an unseasonably strong fiscal first quarter. We will be able to provide more clarity to our guidance in coming quarters as we work to minimize supply chain and capacity challenges and as the timing of some of these government funding programs becomes more clear. In summary, we concluded our fiscal 2021 setting new records for financial performance. We are very proud of our track record of consistent profitability and positive cash flow over the last decade. We remain confident the demand for fiber fed broadband will persist in fiscal 2022 and in the years to come and are actively committing our capital to expand our production capacity and grow and manage our global supply chain to meet that growing demand. We will continue to make progress on our now-of-age plan that positions us for continued success. The opportunity ahead of us is tremendous, and we will continue to execute on our proven strategy to grow our market share.
spk02: And with that, we're ready to open the call for your questions. Operator?
spk04: Thank you. We will now begin taking questions from the company's publishing sell-side analysts. To ask a question, you may press star, then 1 on your touchtone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star, then 2. At this time, we will pause momentarily to assemble our roster.
spk05: Again, if you'd like to ask a question, it is star, then 1. Our first question today will come from Jason Schmidt with Lake Street.
spk04: Please go ahead.
spk03: Hey guys, thanks for taking my questions. Congrats on being able to lift that guidance. Just curious, just given the momentum you're seeing in the current backdrop, how we should be thinking about seasonality in fiscal 22 or if that is even on the table this year?
spk01: I think as we address seasonality, it's going to be covered. It's a little bit different than normal. I think we're going to see a very, you know, an unseasonably strong first quarter. And I think we'll see diminished seasonality from what we've seen historically because of the fact that we're seeing longer-term perspectives and orders. And some of our customers are looking to put product in inventory so that they can be ready for the summer build. So in general, I think we'll see a little bit less of a dominance on the summer and a little bit more consistent quarter to quarter. At least that's the visibility at this point.
spk03: Okay, that's helpful. And then just as a follow-up, I know you mentioned traction with the Tier 2 accounts, but does fiscal 22 guidance or the lift to guidance assume any significant contribution from Tier 1 players?
spk01: It does not include anything significant from Tier 1 at this point. We are continuing our sales efforts and we have been in discussion with several Tier 1 suppliers to help them deal with their capacity limitations and that there has been some challenges at the Tier 1 level for their incumbent suppliers to meet demand. We're aggressively continuing to work in that area, but we also are constrained in some of the Tier 1 opportunities due to supply chain issues associated with PVDF and other plastics.
spk05: Okay. Thanks a lot, guys. Thank you. Good to talk to you, Jason. Again, if you'd like to ask a question today, it is star then one, star then one to ask your question.
spk04: There being no questions at this time, this will conclude our question and answer session. If your question was not taken, you may contact Clearfield's investor relations team at clfd at gatewayir.com. And I'd like to turn the call back over to Ms. Baranek for any closing remarks.
spk01: It was a wonderful opportunity to present these numbers for you today. I just want to absolutely call out the amazing work of Clearfield's employee community, the execution on our strategy and the execution to deliver product in this scalable fashion. I think it's extraordinary and I couldn't be more proud of what they're doing. I also wish all of you, I'm very grateful for your support as we approach the Thanksgiving season and wish you and your families a very blessed opportunity to spend time together.
spk02: Until next quarter.
spk05: The conference has now concluded. Thank you for attending today's presentation. You may now
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