Carlisle Companies Q4 Results Climb, Top View; Sees Sales Growth In FY16

(RTTNews) - Carlisle Companies Inc. (CSL), a diversified manufacturing company, Thursday reported that its fourth-quarter net income climbed to $81.8 million from last year's $53 million. Income from continuing operations grew 54 percent to $81.7 million from $53.2 million in 2014.

Earnings per share were $1.24, 53 percent higher than $0.81 last year.

On average, eight analysts polled by Thomson Reuters expected earnings of $1.11 per share. Analysts' estimates typically exclude special items.

The company attributed the growth in earnings to lower raw material costs supported by continued selling price discipline at Carlisle Construction Materials, savings from the Carlisle Operating System, contribution from the Finishing Brands acquisition at CFT, and the non-recurrence of 2014 charges for plant startup and product line closing costs.

Carlisle's net sales from continuing operations increased 11 percent to $876.2 million from $790.0 million a year ago. Analysts expected sales of $863.20 million.

Net sales from the acquisition of the Finishing Brands business contributed 9.3 percent to net sales in the fourth quarter. Organic net sales grew 2.9 percent. Fluctuations from foreign exchange had a negative impact to net sales of 1.3 percent.

Looking ahead, Chris Koch, President and Chief Executive Officer, said, "For 2016, we expect total net sales growth to be in the mid-single digit percent range, led by performance of our CIT, CFT and CCM segments. … We are actively pursuing strategic acquisitions to bolt on to our existing segments and expect 2016 will be another year of record performance."