CHARLOTTE, N.C. (Feb. 7)—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 $2.23 billion, 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.