CHARLOTTE, N.C. (April 15)—Despite double-digit growth in sales and earnings in the first quarter, Carlisle Companies Inc. is cautious about the remainder of 2005, citing "uncertainties" about raw material costs and interest rates.
"Though our key markets remain strong and our outlook for improved pricing and margins is positive, we must temper our optimism," said Richmond McKinnish, the company's president and CEO. "Uncertainties surrounding future costs of oil-based commodities and certain chemicals as well as the impact of rising interest rates require that we maintain our 2005 guidance of $4.10 to $4.25 per diluted share for income from continuing operations."
For the quarter, Carlisle´s net income from continuing operations rose 29.2 percent to $30.1 million while sales improved 16 percent to $592.3 million.
Carlisle´s rubber-related businesses — industrial components and construction materials — contributed positively to the results. The industrial components business, which includes Carlisle Tire & Wheel, reported 8.8-percent better operating earnings and 15.5-percent higher sales. The construction materials unit, which includes polymeric roofing operations, doubled earnings on 40-percent better sales.