CHARLOTTE, N.C. (July 23, 2002) – Increased sales of industrial tires and wheels by Carlisle Tire & Wheel Co. helped Carlisle Companies Inc. improve earnings in the second quarter by 49 percent, to $24.7 million, and sales by 12.6 percent, to $552.3 million.
Sales for the Industrial Components segment — where Carlisle Tire operates — increased 62 percent over the same period in 2001 to $183 million, based on the August acquisition of Dayco Industrial Power Transmission and “significant” sales growth of lawn and garden products, ATV tires, and trailer tires and wheels by Carlisle Tire, the company said.
Second-quarter segment operating earnings of $20 million were nearly three times higher than the $6.8 million realized in the second quarter 2001. Carlisle Tire's contribution was based on increased production levels, aggressive cost-reduction efforts and improved sales volume, the company said.