CHARLOTTE, N.C. (Feb. 9, 2006) — Carlisle Companies Inc. is projecting double-digit earnings growth in 2006 after reporting 21-percent growth in pre-tax earnings from continuing operations for fiscal 2005.
Carlisle anticipates earnings growing as much as 18 percent this year for the firm's continuing operations, which no longer include the firm's Systems & Equipment business, put up for sale during the fourth quarter.
For the year ended Dec. 31, Carlisle reported earnings before interest and taxes from continuing operations of $209.5 million on 11-percent higher sales of $2.21 billion.
Among individual divisions, Carlisle Industrial Components reported segment operating income fell 9 percent to $55.3 million while sales grew 3 percent to $747.9 million, primarily on the strength of 6-percent higher sales by Carlisle Tire & Wheel Co.
Carlisle Tire reported higher sales on increased demand from the outdoor power equipment, all-terrain vehicles and replacement markets, while sales of styled wheels were lower. The acquisition of solid industrial tire maker Trintex in June 2004 also contributed to the sales growth in 2005, Carlisle said.
The division's sales in the fourth quarter fell 6 percent to $152.1 million on lower sales volume at Carlisle Tire and Carlisle Power Transmission, the firm said. Operating earnings were up 8 percent to $5.2 million.