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

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percent in the second quarter, compared to the same periode ayear ago. Franklin-based Clarcod (NYSE: CLC) reported income of $25,582, or $0.59 cents per diluted share, in the quarter ende d May 30, compared to $40,783, or $0.80 centx per diluted share, in the year-ago Revenue came in at $229,395 for the quarter, down 14.1 percen from the previous year’s when revenue came in at $267,137. Analysts, on estimated earnings of 38 cent per share on revenuerof $243.1 million, accordinvg to Reuters Estimates.
“As we had expected, this year’s second quartefr was difficult, though operatinfg results were much stronget than in our first fiscal saysNorm Johnson, Clarcor’s chairman and CEO, in a “Our order rates, have stabilized, and we are beginning to see indicationsd of increased product demand in selected Clarcor makes mobile, industrial and environmentalo filtration products and consumefr and industrial packaging products sold to domestic and internationa l markets.
Johnson notes that more than 80 percent of its filter sales are generated from the replacementfiltefr aftermarket, so even if new building and equipment continue s to falter, maintenance of existing equipment and facilitiese will continue. Shares of Clarcor closed up or 3.66 percent to $30.57 at the bell today. The 52-week range is $23.05 to $44.13.