Operating profit at our Engine/Mobile Filtration segment increased 1% from the first quarter of 2012 due to a 0.5 percentage point improvement in operating margin from last year’s first quarter despite the reduction in heavy-duty engine filter sales. This increase in operating margin from the first quarter of 2012 was led by lower selling and administrative expenses as a percentage of net sales due to lower legal and other costs driven by the settlement of various legal proceedings in the first quarter of 2012. Gross margin percentage was lower than the first quarter of 2012 primarily due to lower fixed overhead absorption influenced by additional costs associated with the expansion of the Yankton heavy-duty engine filtration manufacturing facility.Industrial/Environmental Filtration Segment
CLARCOR Reports Record First Quarter Diluted Earnings Per Share
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.