SYRACUSE, N.Y. (Feb.15, 2001) — Diversified manufacturer Carlisle Companies Inc. reported record sales and profits for the year ended Dec. 31. The Syracuse-based firm, which includes subsidiary Carlisle Tire & Wheel, reported 10-percent growth in sales to $1.77 billion, while net earnings edged up slightly to $96.2 million, Carlisle said.
Sales growth was driven primarily by acquisitions, the company said, including Carlisle Tire´s purchase of Titan International Inc.´s aftermarket industrial tire and wheel businesses.
Despite the records set in both categories, the overall economic slowdown in the fourth quarter was reflected in earnings and sales. Fourth-quarter sales were up 5 percent to $413.3 million, but earnings fell more than 50 percent to $10.6 million.
For 2001, Carlisle management expects several recent acquisitions to broaden its sales base, although it anticipates a "challenging" business climate in the first half of the year.