Carlisle Co. sales up 13 percent
Carlisle Companies reported $904.1 million in net sales for the third quarter 2014, an increase of 13% versus the prior year.
The increase was led by 16% organic sales growth at Carlisle Construction Materials (CCM) and 11% organic sales growth at Carlisle Interconnect Technologies (CIT).
Income from continuing operations rose 30% to $86.3 million, or $1.31 per diluted share.
For the first nine months of the year, net sales from continuing operations of $2.41 billion grew 8.8% over the prior year period.
“The double digit growth at both CCM and CIT demonstrate healthy market demand as well as solid execution on selling initiatives," said David A. Roberts, chairman and chief executive officer.
The company also announced two recent acquisitions. LHi Technologies is a manufacturer of medical cabling and interconnect applications based in Shenzhen, China that will operate within CIT. Graco Inc.’s Liquid Finishing Brands is a global manufacturer and supplier of liquid finishing equipment and systems serving diverse end markets for paints and coatings. It will operate as a new segment named Carlisle Fluid Technologies (CFT).
"The acquisition of Liquid Finishing Brands meets our strategic criteria to invest in a manufacturer of high margin, highly engineered products with a solid aftermarket, making it a strong fit for Carlisle," Roberts said.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
