CLARCOR Inc. Earnings: Five Straight Quarters of Double-Digit Growth

CLARCOR Inc. (NYSE:CLC) reported its results for the third quarter. Clarcor Inc conducts its business in three industry segments: engine & mobile filtration, industrial & environmental filtration and packaging.

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CLARCOR Earnings Cheat Sheet for the Third Quarter

Results: Net income for CLARCOR Inc. rose to $32.1 million (63 cents per share) vs. $28.3 million (55 cents per share) in the same quarter a year earlier. This marks a rise of 13.3% from the year earlier quarter.

Revenue: Rose 8.4% to $284.8 million from the year earlier quarter.

Actual vs. Wall St. Expectations: CLC fell short of the mean analyst estimate of 66 cents per share. It fell short of the average revenue estimate of $296.3 million.

Quoting Management: Norm Johnson, CLARCOR’s Chairman and Chief Executive Officer, commented, “The third quarter was another solid quarter for us. Our diluted earnings per share of $0.63 were our second highest quarterly earnings in the history of CLARCOR-second only to the $0.64 last quarter. In addition, the third quarter marked the seventh consecutive quarter where we exceeded the previous year’s quarterly diluted earnings per share by at least 15%. This consistent success is a result of the continued execution of our long-term strategy including a commitment to sustainable growth, cost containment and continuous improvement.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 37.4% and in the first quarter, the figure rose 47.2%.

Revenue has risen the past four quarters. Revenue increased 11.9% to $288.5 million in the second quarter. The figure rose 14.2% in the first quarter from the year earlier and climbed 17.6% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company fell short of forecasts after beating estimates in the previous two quarters. In the second quarter, it topped the mark by 8 cents, and in the first quarter, it was ahead by one cent.

Competitors to Watch: Pall Corporation (NYSE:PLL), ESCO Technologies Inc. (NYSE:ESE), PMFG Inc (NASDAQ:PMFG), Ball Corporation (NYSE:BLL), Flanders Corporation (FLDR), Illinois Tool Works Inc. (NYSE:ITW), Silgan Holdings Inc. (NASDAQ:SLGN), Federal-Mogul Corporation (NASDAQ:FDML), Crown Holdings, Inc. (NYSE:CCK), and Bway Holding Company (BWY).

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(Source: Xignite Financials)