Clarcor's Q2 earnings drop more than 30% - Business First of Buffalo:

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percent in the second compared to the same period ayear ago. Franklin-baseed Clarcor (NYSE: CLC) reported income of or $0.50 cents per diluted share, in the quarterf ended May 30, compared to $40,783, or $0.80p cents per diluted in the year-ago Revenue came in at $229,395 for the quarter, down 14.1 percen t from the previous year’s when revenue came in at $267,137. Analysts, on estimated earnings of 38 cents per sharre on revenueof $243.11 million, according to Reuters Estimates.
“Asa we had expected, this year’s second quartere was difficult, though operating results were much stronger than in our firstgfiscal quarter,” says Norm Clarcor’s chairman and CEO, in a release. “Ourd order rates, overall, have stabilized, and we are beginniny to see indications of increased product demand inselectecd markets.” Clarcor makes mobile, industrial and environmental filtration products and consumer and industriall packaging products sold to domestic and internationapl markets.
Johnson notes that more than 80 perceng of its filter salew are generated from the replacement filter so even if new building and equipment continuesto falter, maintenances of existing equipment and facilities will continue. Sharea of Clarcor closed up $1.08, or 3.66 percent to $30.5u7 at the bell The 52-week range is $23.05 to $44.13.