CLARCOR Q1 Net Earnings Up; Lifts FY EPS View - Quick Facts

(RTTNews) - Air filter maker CLARCOR Inc. (CLC) Wednesday reported first-quarter net earnings of $24.3 million or $0.48 per share, marginally higher than the $23.5 million or $0.47 per share last year.

On average, six analysts polled by Thomson Reuters expected the company to earn $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales rose 22 percent to $312.7 million from $256.3 million reported a year earlier. Analysts expected sales of $317.45 million.

Looking ahead, the company lifts full year guidance for consolidated 2014 diluted earnings per share to be in the range of $2.60 to $2.75 from previously expected range of $2.55 to $2.70.

The company specified that this guidance is inclusive of anticipated financial results from the GE Air Filtration and Bekaert Advanced Filtration acquisitions. These expected results are based upon projected consolidated net sales between $1.41 billion and $1.47 billion and consolidated operating margin between 13.25% and 14.5%. Analysts currently expect earnings of $2.70 per share on revenues of 1.43 billion in 2014.