This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CLARCOR Reports Record Fourth Quarter And Full Year Results

Stocks in this article: CLC

Operating profit at our Industrial/Environmental Filtration segment increased 31% from the fourth quarter of 2010. This increase was across the broad markets we serve in this reporting segment including $1.3 million as a result of our acquisition of TransWeb. Our 14.4% operating margin in the fourth quarter increased 2.2 percentage points from last year including a 1.6 percentage point improvement in gross margin percentage and a 0.6 percentage point reduction in selling and administrative costs as a percentage of sales. This 14.4% operating margin in the fourth quarter propelled our 2011 operating margin in this reporting segment to 11.1%—exceeding our full year 10% operating margin goal.

Packaging Segment

Net sales at our Packaging segment declined $2.4 million, or 9%, from the fourth quarter of 2010. This reduction was primarily the result of lower sales of decorated flat sheet metal including lower holiday promotional sales. As a result of these lower sales, operating profit in our Packaging segment declined $1.2 million, or 38%, and operating margin decreased 3.6 percentage points from the fourth quarter of 2010. However, for the full year 2011, operating profit increased $1.5 million, or 17%, and operating margin increased 1.7 percentage points from last year.”

2012 Guidance

Chris Conway commented on 2012 guidance: “We expect 2012 to be another record year where we will build upon our foundation of success and continue to develop our core strategic initiatives including growing the top-line through the introduction of innovative products while leveraging our technology and media development capabilities. As always, we intend to continue to advance our deeply engrained culture of cost containment and continuous improvement in support of our profitable growth.

“We anticipate continued growth in our Engine-Mobile Filtration segment in 2012 primarily from higher sales of heavy-duty engine filters in both the U.S. and foreign markets. We expect that our foreign growth will be higher than our domestic growth due to increased sales in China and export sales to South America and the Middle East. We expect our operating margin in our Industrial-Environmental Filtration segment to continue to expand in 2012. This expansion should be driven by an increased sales mix of higher margin process liquid filtration products and improved margins in our air filtration markets. We anticipate some challenges in our Packaging segment in 2012, but we still expect a strong 2012 operating margin in this segment with a mid-point projection of 10%. On a consolidated basis, we expect our organic sales growth in 2012 to be between 6% and 8%, or between 7.5% and 9.5% excluding the impact of the fifty-third week in 2011.”

4 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,897.40 +92.60 0.52%
S&P 500 2,069.91 -0.74 -0.04%
NASDAQ 4,765.0150 -0.3650 -0.01%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs