Carlisle Companies sales up 9.1 percent
Carlisle Companies Incorporated reported net sales of $709.3 million for the first quarter, a 9.1% increase from $650.4 million in the first quarter 2014.
Organic net sales growth was 7.4%. The acquisition of LHi Technology in the Carlisle Interconnect Technologies (CIT) segment contributed 3.9% to net sales in the first quarter. Fluctuations from foreign exchange had a negative impact to net sales of 2.2%.
Income from continuing operations in the first quarter 2015 increased 8.2% to $39.5 million, compared with $36.5 million in the first quarter 2014. On a per share basis, income from continuing operations in the first quarter 2015 increased 5.4% to 59 cents per diluted share, from 56 cents in the prior year.
“We achieved strong organic sales growth of 7.4% in the first quarter led by excellent sales performance at CIT and Carlisle Construction Materials (CCM)," said David A. Roberts, chairman and chief executive officer.
Sales in the Carlisle Construction Materials segment grew 6.9% to $371.3 million, reflecting organic sales growth of 9.3% primarily on higher demand for new commercial construction, partially offset by a 2.4% negative impact from foreign exchange fluctuations in the stronger U.S. dollar versus the Canadian dollar and Euro.
Carlisle Interconnect Technologies segment sales grew 29% to $194.4 million, reflecting organic growth of 12% and acquisition growth of 17%.
Carlisle Brake & Friction segment sales declined 6.3% to $86.4 million, comprised of 0.4% lower organic sales and a 5.9% negative impact on sales from foreign exchange rate fluctuations.
Carlisle FoodService Products segment sales decreased by 4.5% to $57.2 million.
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.
