CLARCOR Inc. (NYSE: CLC)
Unaudited Second Quarter 2013 Highlights(Amounts in millions, except per share data and percentages)
|Three Months Ended||Six Months Ended|
|Net earnings – CLARCOR||33.1||32.9||1||%||56.5||56.4||-||%|
|Diluted earnings per share||$||0.66||$||0.65||1||%||$||1.12||$||1.11||1||%|
|Operating margin||17.2||%||17.2||%||0.0 pts||15.3||%||15.4||%||-0.1 pts|
CLARCOR Inc. (NYSE: CLC) reported that its diluted earnings per share increased 1% from the second quarter of 2012 to a record second quarter high of $0.66. Higher diluted earnings per share were driven by a 1% increase in net sales from last year’s second quarter while operating margin remained consistent at 17.2%. The increase in consolidated net sales compared with the second quarter of 2012 was influenced by higher sales in CLARCOR’s Engine/Mobile and Industrial/Environmental Filtration segments partially offset by lower sales in its Packaging segment.
Changes in average foreign currency exchange rates reduced net sales by $0.7 million and operating profit by $0.2 million, each less than 1%, in the second quarter of 2013 compared with last year’s second quarter. For the first six months of 2013, changes in average foreign currency exchange rates lowered net sales by $0.4 million and operating profit by $0.2 million, also each less than 1%, from the first six months of 2012.