Carlisle Companies Organic Sales Up 3.7% in 3Q - Modern Distribution Management

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Carlisle Companies Organic Sales Up 3.7% in 3Q

Including the Thermax/Raydex acquisition, sales increased 6.4 percent.

Carlisle Companies Inc. (NYSE: CSL), Charlotte, NC, reported sales for the third quarter of $968.8 million, an increase of 6.4 percent compared to the same period a year ago. Organic sales, which exclude the acquisition of Thermax/Raydex, grew by 3.7 percent. Profit increased 10.2 percent to $76.6 million.

Sales improvement was driven by organic sales growth primarily at Carlisle construction materials and Carlisle interconnect technologies, earnings improvement at Carlisle foodservice products and Carlisle transportation products and the Thermax acquisition. This was partially offset by lower sales volume at Carlisle brake & friction.

Carlisle also announced in October that it had agreed to sell Carlisle's transportation products business. Beginning with the fourth quarter, the results for CTP will be reported as discontinued operations and all prior periods will be restated to exclude CTP from continuing operations.

For the first nine months, sales for Carlisle were $2.8 billion, an increase of 1.4 percent compared to the same period a year ago. Profit decreased 37.1 percent to $140 million.

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