Carlisle nearly doubles earnings on record fourth-quarter sales

CHARLOTTE, N.C. (Feb. 7)—Carlisle Cos. Inc. had fourth-quarter net income of $14.9 million—nearly double the $7.6 million earnings posted in 2001—on sales of $463.9 million, the Charlotte-based company reported. The fourth-quarter sales figure, a company record, was up 7 percent from the $433.5 million reported in 2001. For the full year, Carlisle had record sales of $1.91 billion, up 6.6 percent from 2001, and net income of $28.6 million, up 15.2 percent from the previous year. In 2002, the company aggressively pursued cost reductions, manufacturing efficiencies, inventory reductions and new product introductions in its markets, said Richmond McKinnish, Carlisle president and CEO. If the U.S. economy continues its modest expansion, the firm's earnings could be in the $2.60-$2.80 per-share range in 2003, he added.