Clarcor's 2nd-quarter profit rises 18 percent on sales boost from Perry Equipment buyout

FRANKLIN, Tenn. (AP) - Filtration systems maker Clarcor Inc. said Tuesday its fiscal 2008 second-quarter profit rose 18 percent as on sales boosts from Perry Equipment Corp., which it bought for about $161 million in cash and stock in December. For the quarter ending May 31, the company earned $24.6 million, or 48 cents per share, compared with $20.9 million, or 41 cents per share, in the year-ago period. Revenue rose 14 percent to $267.1 million from $235.1 million in the prior-year period. Analysts polled by Thomson Financial expected profit of 47 cents per share on revenue of $274.9... [read full story]