EmailCLARCOR (CLC $42.39 +1.01) reported second quarter earnings of $0.64
per share, $0.08 better than the Capital IQ Consensus Estimate of $0.56.
Revenues rose 11.9% year/year to $288.5 million versus the $283.2 million
consensus.
For fiscal year 2011, the company raised its earnings guidance to $2.25 to $2.40
versus the $2.30 Capital IQ Consensus Estimate, from $2.20 to $2.35. On the top
line, the company sees revenues growing 12% to 13.5%, which calculates to
approx. $1.13 billion to $1.15 billion versus the $1.13 billion Capital IQ
Consensus Estimate.
The company said, "While we are confident in our ability to execute in the third
and fourth quarters, there is some uncertainty in the U.S. and global economies
in the second half of the year. We believe our updated guidance is achievable
with weakening but still expanding economic growth. However, our updated
guidance does not consider a major economic disruption in the remainder of the
year such as a 'double-dip' recession in the U.S."
than one year.
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