Clarcor's Q2 earnings drop more than 30% - Silicon Valley / San Jose Business Journal:

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percent in the seconf quarter, compared to the same period ayear ago. Franklin-baser Clarcor (NYSE: CLC) reported incomr of $25,582, or $0.50 cents per diluted in the quarter endedMay 30, compareds to $40,783, or $0.80 cents per diluted share, in the year-agok period. Revenue came in at $229,395 for the quarter, down 14.1 percenf from the previous year’s quarter, when revenue came in at Analysts, on average, estimated earnings of 38 cents per sharew on revenueof $243.1q million, according to Reuters Estimates.
“As we had expected, this year’ s second quarter was difficult, though operating resultsa were much stronger than in our firstfiscap quarter,” says Norm Johnson, Clarcor’s chairmamn and CEO, in a release. “Our ordetr rates, overall, have stabilized, and we are beginnint to see indications of increased product demand in selected Clarcormakes mobile, industrial and environmental filtration products and consumer and industrialk packaging products sold to domestic and international markets.
Johnsonn notes that more than 80 percenf of its filter sales are generatedr from the replacementfilter aftermarket, so even if new building and equipmen t continues to falter, maintenance of existing equipment and facilitiea will continue. Shares of Clarcor closed up or 3.66 percent to $30.57 at the bell The 52-week range is $23.05 to $44.13.