Carlisle Companies sales up 7.6 percent
Carlisle Companies reported net sales of $973.1 million for the third quarter, a 7.6% increase from $904.1 million in the third quarter 2014.
Net sales from the acquisition of the Finishing Brands business, which now constitutes the Carlisle Fluid Technologies (CFT) segment, contributed 7.5% to net sales in the third quarter. Net sales from the acquisition of LHi Technology (LHi), reported in the Carlisle Interconnect Technologies (CIT) segment, contributed 2.9% to net sales.
Organic net sales, as well as the impact of changes in foreign exchange rates, declined by 1.0%. Fluctuations from foreign exchange had a negative impact to net sales of 1.8%.
Income from continuing operations in the quarter increased 20% to a record $103.6 million, compared with $86.3 million in the third quarter 2014, reflecting lower raw material costs, savings from the Carlisle Operating System and contribution from acquisitions. On a per share basis, income from continuing operations in the quarter increased 19% to $1.56 per diluted share, from $1.31 per diluted share in the prior year.
Carlisle Fluid Technologies net sales in the quarter were $67.9 million. Net sales in the third quarter grew 2.6%, primarily reflecting 9.7% organic net sales growth partially offset by a 7.1% negative impact due to foreign currency fluctuations.
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.
