Charlotte, North Carolina--Carlisle Cos. Inc. fell $10.5 million into the red in the fourth quarter on provisions taken for discontinued operations--including its automotive rubber products business--but income from continuing operations was 9.2 percent ahead of the 2003 fourth quarter.
Fiscal 2004 net income fell 10 percent to $79.6 million as Carlisle took a $38.7 million charge against earnings to compensate for operations now considered discontinued.
Carlisle listed its automotive rubber business for sale in mid-2004 but had not found a buyer as of mid-January. It also more recently put up for sale the rest of its automotive supply business unit, all plastics-related.
Fiscal sales increased 18 percent to $2230 million, as key units all improved. Industrial components reported 17-percent growth to $727.2 million in 2004 on strong sales by Carlisle Tire & Wheel Co., and construction materials' sales--which include Carlisle's roofing business--jumped 25 percent to $721.9 million.
Press release listing from Carlisle