UPDATE 1-Clarcor posts lower Q2; lowers FY09 earnings forecast

* Q2 EPS $0.33 vs year-ago EPS $0.48

* Q2 Sales $229.4 mln vs year-ago $267.1 mln

* Lowers full-year EPS outlook

* Sees FY09 sales declining 10 pct to 12 pct

June 17 (Reuters) - Filtration products maker Clarcor Inc (CLC.N) reported lower quarterly results, hurt by reduced demand, and lowered its full-year 2009 earnings outlook.

For fiscal 2009, the company now expects to earn $1.40 to $1.60 a share, down from its previous forecast of $1.60 to $1.75 a share earlier in March.

It also sees full-year sales declining 10 percent to 12 percent from 2008.

Analysts on average, were expecting earnings of $1.57 a share, on revenue of $974.2 million, according to Reuters Estimates.

For the second-quarter ended May 30, Clarcor posted net income of $16.8 million, of 33 cents a share, compared with $24.6 million, or 48 cents a share, a year ago.