CLARCOR Inc. (NYSE: CLC):
|Unaudited First Quarter 2012 Highlights (Amounts in millions, except per share data and percentages)|
|Net earnings – CLARCOR||23.5||21.9||7%|
|Diluted earnings per share||$||0.46||$||0.43||7%|
|Operating margin||13.3%||12.7%||0.6 pts|
CLARCOR Inc. (NYSE: CLC) reported its financial results for the first quarter of 2012. Diluted earnings per share grew 7% from the first quarter of 2011 to a record first quarter high of $0.46. Higher diluted earnings per share were driven by a 5% increase in net sales, a 10% increase in operating profit and a 0.6 percentage point improvement in operating margin. Operating profit at the company’s Engine/Mobile and Industrial/Environmental Filtration segments increased 20% on a combined basis reflecting an 8% increase in net sales and a 1.4 percentage point improvement in operating margin. Higher first quarter earnings were achieved despite lower operating results at the company’s Packaging segment where net sales declined 29% and operating profit declined 89% from the first quarter of 2011. These Packaging segment results negatively impacted consolidated diluted earnings per share by approximately $0.04 compared with last year’s first quarter. The company expects its Packaging segment results to improve over the remainder of the year.
Changes in average foreign currency exchange rates reduced net sales by $0.8 million and did not significantly impact operating profit in the first quarter of 2012 compared with last year’s first quarter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV