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| Clarcor shares fall as weak demand hurts results Jun 21st 2012, 14:27 Thu Jun 21, 2012 10:27am EDT (Reuters) - Shares of Clarcor Inc (CLC.N) fell as much as 11 percent on Thursday after the filtration products maker posted lower-than-expected quarterly results and cut its 2012 earnings outlook. The company, which makes filtration products used in heavy-duty trucks and industrial applications, cut its 2012 earnings outlook range to $2.50 to $2.65 per share from $2.55 to $2.70 per share. Clarcor said weak industry demand hurt its U.S. heavy-duty engine aftermarket filtration business in the second quarter. Another setback came from the company's first-fit OEM heavy-duty engine filter business in China. A decline in the local production of diesel engines hurt sales, Clarcor said in a statement on Wednesday. Shares of the company were down 7 percent at $46.57 in morning trade on the New York Stock Exchange. They had touched a low of $45.13 earlier in the session. | |
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