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CLARCOR Reports Record First Quarter Results

Anticipated sales growth from 2011 and operating margin by segment and on a consolidated basis are as follows:

         

2012 Estimated Sales Growth

2012 Estimated Operating Margin

 
Engine/Mobile Filtration 7.0% to 9.0% 22.0% to 23.0%
Industrial/Environmental Filtration 7.0% to 9.0% 11.0% to 12.0%
Packaging -10.0% to -8.0% 9.0% to 11.0%
CLARCOR 5.5% to 7.5% 16.0% to 17.0%
 

We project 2012 cash from operations to be between $125 million and $135 million, capital expenditures to be between $45 million and $55 million and our effective tax rate to be between 32.0% and 32.5%.

CLARCOR will be holding a conference call to discuss the first quarter 2012 results at 10:00 a.m. CST on March 22, 2012. Interested parties can listen to the conference call at www.clarcor.com or www.viavid.net. A replay will be available on these websites and also at 877-870-5176 or 858-384-5517 by providing confirmation code 3689402. The replay will be available through April 5, 2012 by telephone and for 30 days on the Internet.

CLARCOR is based in Franklin, Tennessee, and is a diversified marketer and manufacturer of mobile, industrial and environmental filtration products and consumer and industrial packaging products sold in domestic and international markets. Common shares of CLARCOR are traded on the New York Stock Exchange under the symbol CLC.

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