CLARCOR Inc. Announces 18% Drop In Q1 Profit

(RTTNews) - CLARCOR Inc. (CLC) revealed a profit for first quarter that dropped compared to the same period last year.

The company said its bottom line dropped to $21.7 million, or $0.44 per share. This was down from $26.4 million, or $0.52 per share, in last year's first quarter.

Analysts had expected the company to earn $0.40 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.7% to $316.3 million. This was down from $335.4 million last year.

CLARCOR Inc. earnings at a glance:

-Earnings (Q1): $21.7 Mln. vs. $26.4 Mln. last year. -Earnings Decline (Y-o-Y): -17.8% -EPS (Q1): $0.44 vs. $0.52 last year. -EPS Decline (Y-o-Y): -15.4% -Analysts Estimate: $0.40 -Revenue (Q1): $316.3 Mln vs. $335.4 Mln last year. -Revenue Change (Y-o-Y): -5.7%

-Guidance: Full year EPS guidance: $2.60 - $2.80 Full year revenue guidance: $1375 - $1415 Mln