Carlisle Companies sales up 15 percent
Carlisle Companies reported net sales from continuing operations of $984.6 million for the second quarter, a 15% increase from $859.5 million in the second quarter 2014.
Net sales from the acquisition of the Finishing Brands business, which constitutes the Carlisle Fluid Technologies (CFT) segment, contributed 7.2% to net sales in the second quarter. Net sales from the acquisition of LHi Technology (LHi), reported in the Carlisle Interconnect Technologies (CIT) segment, contributed 3.2% to net sales. Organic net sales growth, as well as the impact of changes in foreign exchange rates versus the U.S. Dollar, was 6.2%.
Income from continuing operations in the quarter increased 25% to $94.8 million, compared with $75.7 million in the second quarter 2014.
Carlisle Construction Materials (CCM): Net sales in the second quarter 2015 grew 7.8% to $577.6 million, reflecting organic sales growth of 9.9% partially offset by a 2.1% negative impact due to the stronger U.S. dollar versus the Euro and Canadian dollar.
Carlisle Interconnect Technologies (CIT): Net sales in the second quarter 2015 grew 22% to $198.3 million, reflecting acquisition growth of 17% and organic growth of 5.4%.
Carlisle Fluid Technologies (CFT): Net sales in the second quarter 2015 were $61.7 million. CFT’s reported loss of $1.0 million before interest and taxes included $9.3 million in acquisition related costs, consisting of $0.7 million in transaction related expenses and $8.6 million of additional costs of goods sold related to the fair valuation of acquired inventory.
Carlisle Brake & Friction (CBF): Net sales in the second quarter of 2015 declined 13% to $85.0 million, comprised of 6.9% lower organic sales and a 6.0% negative impact on net sales from foreign exchange rate fluctuations.
Carlisle FoodService Products (CFS): Net sales in the second quarter 2015 decreased by 3.3% to $62.0 million. Net sales into the healthcare market declined by 7% due to lower net sales of rethermalization equipment. Net sales into the foodservice market declined by 4%, primarily due to lower international sales.
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.
