Carlisle Companies Inc. (NYSE: CSL), Charlotte, NC, reported sales for the first quarter of $650.4 million, up 3.3 percent from the previous year. Profit decreased 35.1 percent to $35.8 million.
“Despite the severe winter weather negatively impacting the quarter, we achieved sales growth in all our segments and leveraged that growth to a 14 percent EBIT improvement," said David Roberts, chairman, president and CEO. “For the full year 2014, we continue to plan for high single-digit percentage sales growth, primarily driven by growth at CCM (Carlisle construction materials) and CIT (Carlisle interconnect technologies), and expect to generate EBIT leverage from our sales growth."
Carlisle construction materials sales for the quarter increased 2.3 percent year-over-year, reflecting high demand in Europe, offset by slightly lower sales in the U.S. due to the harsh winter.
Interconnect technology sales were up 6.9 percent, all of which was organic. Brake & friction sales increased 1.5 percent in the quarter, while food service product sales were up 3.3 percent.