Rubber, thermoplastic roofing materials help boost Carlisle results
Charlotte, North Carolina--Carlisle Cos. Inc. reported income from continuing operations of $44.3 million in the second quarter, up from $40.7 million in the same period of 2004.
Net sales in the quarter increased 9.4 percent to $645.9 million, with changes in foreign currency exchange rates and solid organic sales having a favourable impact on growth. The organic business growth was primarily attributable to the Construction Materials and Transportation Products segments, the company said.
The Construction Materials segment is driven primarily by the company's roofing and insulation businesses, which include EPDM and thermoplastic roofing materials. Net sales for the segment in the quarter were up 21.5 from the like period in 2004 to $227.9 million, based on increased demand and higher selling prices across most product lines.
Earnings before income taxes for the quarter were $38.8 million, up 38.6 percent from last year. The gains reflected an increase in sales volume and selling prices, and offset higher raw material costs and unfavourable product mix.
Companywide net sales for the six-month period ending June 30 were $1240 million, a 13.2-percent increase over the first six months of 2004. Income from continuing operations rose 16.3 percent to $7.4 million.
From Rubber & Plastics News
Press release from Carlisle