CLARCOR (CLC) Falls 3% In After Hours Trading
March 17, 2010 7:01 PM
Shares of CLARCOR Inc. (NYSE: CLC) were down nearly 3% in after hours trading on Wednesday, after the company released an earnings report that missed analyst estimates.
CLARCOR Inc. announced that it earned $14.9 million, or 29 cents per share, for the 1st quarter, compared to earning $8.8 million, or 17 cents per share, a year earlier.
Although profits were up 69%, revenue rose less than 1% to $215.1 million from $213.7 million.
According to a poll of analysts by Thomson Reuters, the average estimate of expected financial results was earnings of 31 cents per share, on revenue of $222.8 million.
The maker of filtration products and consumer and industrial packaging reiterated that it expects to earn $1.55 to $1.70 per share in 2010, while the average analyst estimate comes in at the top of that range, at $1.70.
CLARCOR's shares fell $1.03 to $33.60 in after hours trading.
