CHARLOTTE, N.C. (Feb. 10) — Carlisle Companies Inc. is projecting double-digit earnings growth in 2006 after reporting 21-percent growth in pre-tax earnings from continuing operations for fiscal 2005.
Carlisle anticipates earnings growing as much as 18 percent this year for the firm´s continuing operations, which no longer include the firm´s Systems & Equipment business, which was put up for sale during the fourth quarter.
For the year ended Dec. 31, Carlisle reported earnings before interest and taxes from continuing operations of $209.5 million on 11-percent higher sales of $2.21 billion.
Among individual divisions, Carlisle Industrial Components reported segment operating income fell 9 percent to $55.3 million while sales grew 3 percent to $747.9 million, primarily on the strength of 6-percent higher sales by Carlisle Tire & Wheel Co. Sales of power transmission products, on the other hand, fell 9 percent on reduced demand in the lawn and garden and agricultural markets.
The Construction Materials unit reported 39-percent higher pre-tax earnings of $131.8 million on 20-percent higher sales of $865.7 million. Carlisle attributed the positive results to growth in all product lines and higher selling prices, which offset increased raw material costs.