Clarcor Inc. (CLC) reported second-quarter net earnings attributable to the company of $32.9 million or $0.65 per share, compared to $32.8 million or $0.64 per share in the same quarter last year. On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.70 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter declined 1% to $284.86 million from $288.53 million in the prior year quarter, while five analysts had consensus revenue estimate of $305.68 million for the quarter.
Based upon year-to-date financial results and due to continuing economic uncertainty, the company is reducing its guidance for 2012 diluted earnings per share to $2.50 to $2.65 from its previous guidance of $2.55 to $2.70.
Analysts now expect fiscal 2012 earnings of $2.68 per share.
For comments and feedback: editorial@rttnews.com