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Carlisle Companies Inc., Charlotte, NC, reported fourth quarter sales of $623.5 million, a 1% decline from the fourth quarter of 2007. Profit decreased 68% to $13.7 million. The slow economy and costs related to previously announced consolidations and closures drove results down for the quarter.
Construction Materials segment reported fourth quarter sales of $300.5 million, down 11% from fourth quarter 2007.
Transportation Products sales declined 8% to $170.1 million. Growth in the agricultural and construction tire and wheel markets was more than offset by continued softness in the lawn and garden, high-speed trailer, styled wheel and construction trailer markets.
Applied Technologies sales in the fourth quarter were $113.4 million, an increase of 55%. The acquisitions of Dinex and Carlyle accounted for all of the segment's growth, with organic sales down 10%.
Sales in the Specialty Products segment increased 17% to $33.8 million, driven by a doubling of sales in the refrigerated truck bodies business.
For 2008, sales were $2.97 billion, an increase of 11% over 2007. Profit declined 74% to $55.8 million. Sales for the year improved in all sectors, with organic growth contributing 3% to the overall growth.
Carlisle is a diversified manufacturing company serving the construction materials, commercial roofing, specialty tire and wheel, power transmission, heavy-duty brake and friction, heavy-haul truck trailer, refrigerated truck body, foodservice, aerospace, and test and measurement industries.