CLARCOR Q2 Adj. Profit Beats Estimate; Lifts FY14 Outlook - Quick Facts

(RTTNews) - Air filter maker CLARCOR Inc. (CLC) Wednesday reported second-quarter net earnings attributable to the company of $34.6 million or $0.68 per share, compared to $33.1 million or $0.66 per share in the comparable quarter last year.

Adjusted net earnings for the latest second quarter rose to $38.9 million or $0.76 per share from $33.1 million or $0.66 per share in the prior year quarter. On average, six analysts polled by Thomson Reuters expected the company to earn $0.62 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales rose 34 percent to $386.64 million from $287.58 million reported a year earlier, while five analysts expected sales of $364.30 million.

Looking ahead to fiscal 2014, the company raised its earnings to a range of $2.72 to $2.82 per share from its previous range of $2.60 to $2.75. Analysts now expect earnings of $2.73 per share.

The company now expects net sales to be in the range of $1.49 billion to $1.54 billion, up from its prior range of $1.41 billion to $1.47 billion. Analysts currently expect revenues of $1.49 billion in 2014.