Carlisle tyre/wheel unit sales up, earnings down

ERJ staff report (TB)

Charlotte North Carolina -- Carlisle Companies Inc.'s transportation products segment, which includes the Carlisle Tire & Wheel units, reported 8-percent higher sales in fiscal 2010 but pre-tax operating income fell 59 percent.

The segment, which also includes Carlisle's power transmission belting business, reported operating earnings of $21.7 million on sales of $684.8 million. Business in the fourth quarter was particularly brisk, with sales jumping 14 percent on increased demand for tyres and wheels in the agricultural, construction, outdoor power equipment and ATV sectors.

For 2011 Carlisle expects to report double-digit growth, including sales from its recent acquisition of Hawk Corp., a maker of off-road braking systems.

During the fourth quarter Carlisle wound up activities at is Carlisle, Pa., tyre plant and shifted much of that factory's production to its new plant in Jackson, Tennessee.

Overall, Carlisle reported a 7-percent drop in operating profits to $196.1 million on 12-percent higher sales of $2.53 billion. Net income edged up 1 percent to $145.6 million.

From Tire Business (A Crain publication)