Carlisle '04 net off 10 percent on charges for for-sale units
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.
From Rubber & Plastics News
Press release listing from Carlisle
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
- Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
- Unlimited access to ERJ articles online
- Daily email newsletter – the latest news direct to your inbox
- Access to the ERJ online archive