Late on Wednesday, Cintas Corp. (NASDAQ: CTAS) announced that its fiscal third quarter net income dropped 12.5% to $71.81 million, or 47 cents a share, from $81.83 million or 53 cents a share, in the prior year quarter. Quarterly revenue declined 6.9% to $908.64 million from $975.95 million. Analysts on an average were looking for earnings of 48 cents a share on revenue of $959.40 million. CEO Scott Farmer commented "The economic environment continues to be very challenging. The U.S. economy lost 4.4 million jobs since the beginning of the recession in December 2007, with approximately 3.7 million of those jobs lost during the last six months alone. Our customers are reducing head count and closing facilities, which has negatively impacted our revenue. We have not seen such a sudden and dramatic change in our business since we started our company in 1968. In response to these conditions, we are actively reducing our cost structure and right-sizing our entire organization. We have reduced our operating costs and selling and administrative expenses by approximately $50 million in the quarter as compared to last year. By streamlining our processes and procedures we have been able to reduce our headcount by over 9%." Cintas Corp. fell 4.01% in extended trading.

Clarcor Inc. (NYSE: CLC) reported that its first quarter net income tumbled to $8.80 million, or 17 cents a share, from $16.15 million, or 32 cents a share, in the year ago quarter. Revenue declined to $213.70 million from $250.18 million. Analysts on an average expected the company to earn 30 cents a share on revenue of $236.45 million. Chairman and CEO Norm Johnson stated "The decline in our first quarter sales and operating profit was sudden and deeper than we had expected. We believe this reflects customer efforts to reduce their inventory levels, as well as a response to the severity of the recession which reduced demand, both in the U.S. and overseas." Shares of the company retreated 7.55% in late trading.

Herman Miller Inc. (NASDAQ: MLHR) swung to a third quarter loss of $5.2 million, or 10 cents a share, compared to a profit of $38.3 million, or 65 cents a share, in the year earlier quarter. On an adjusted basis, the company earned $23.4 million, or 18 cents a share, compared to 65 cents a share, in the same period a year ago. Revenue slipped 28.5% to $354.4 million from $495.4 million. Consensus estimates were for earnings of 21 cents a share on revenue of $397.30 million. Shares of Herman Miller tumbled 6.49% in evening trade.

IHS Inc. (NYSE: IHS) reported that its fiscal first-quarter net income climbed to $27.10 million, or 43 cents a share, from $21.43 million, or 34 cents a share,  in the same quarter last year. year. On an adjusted basis earnings rose 29% to 58 cents a share, from 45 cents a share, in the year-ago period. Revenue jumped 18% to $235.41 million from $198.78 million. Analyst on average had forecast earnings of 54 cents a share on revenue of $235.22 million. Chairman and CEO Jerre Stead said, "We continued to grow revenue and expand margins during the first quarter despite the challenging economy. We had strong execution during this uncertain global economic time and remain confident that we have the right strategies, business model and management team to lead us through the current environment."

Nike Inc. (NYSE: NKE) said that its fiscal third-quarter net income fell 47% to $243.8 million, or 50 cents a share, from $263.8 million, or 92 cents a share, in the same quarter a year ago. Revenue slipped 2% to $4.4 billion. Analysts on average anticipated earnings of 79 cents a share on revenue of $4.49 billion. President and Chief Executive Mark Parker said "In a challenging environment, we delivered excellent operating results by executing with both focus and flexibility. I feel very good about our performance and our potential." Shares of Nike slumped 4.18% in after hours trade.

Oracle Corp. (NASDAQ: ORCL) reported that its fiscal third-quarter net income fell marginally to $1.33 billion, or 26 cents a share, from $1.34 billion, or 26 cents a share, in the corresponding period a year ago. Revenue rose 2% to $5.45 billion. On an adjusted basis, the company earned 35 cents a share. Analysts on average expected Oracle to report earnings of 32 cents a share, on revenue of $5.4 billion. The company issued weak financial guidance for its fiscal fourth quarter. The company expects to earn n the range of 42 cents to 46 cents a share and register a revenue decline in the range of 10% to 14%. Commenting on the results CEO Larry Ellison said "We're competing more effectively across the board in all our product areas, and that's the explanation." Oracle soared 7.01% in extended trading.

Disclosure: Author does not own any of the stocks discussed here.