CHARLOTTE, N.C. (Oct. 25, 2006) — Carlisle Companies Inc. reported earnings before interest and income taxes from continuing operations of $69.5 million for the third quarter, a 31-percent increase over the same period in 2005.
Net sales from continuing operations of $648.4 million in the quarter were up about 19 percent over last year. Organic sales growth accounted for $89 million, or 86 percent, of the improvement over the prior-year quarter, primarily as a result of strong showings in the company's construction materials, specialty trailer and wire and cable businesses, Carlisle said.
Net income for the third quarter was $38.5 million, up 96 percent from the $19.7 million posted in the same period of 2005.
In the Industrial Components unit, which includes Carlisle Tire & Wheel, were essentially flat at $164.1 million as consumer demand in the outdoor power equipment market was soft, the company said.
The Construction Materials unit, which houses Carlisle's rubber roofing business, posted net sales of $311.8 million in the third quarter, a 33-percent increase over the like period of 2005, primarily due to higher membrane and insulation volumes. The third quarter EBIT of $52.5 million was a 23-percent rise over 2005.
The margin on earnings for the Construction Materials unit declined slightly in the quarter due to higher raw material costs and changes in sales mix, the company said.