Carlisle Companies Inc. (NYSE: CSL), Charlotte, NC, reported first-quarter sales of $562.0 million, up 6 percent over first quarter 2009. Profit was $24.3 million compared to $6.6 million a year ago.
Organic sales increased 1.9 percent from the prior year, with sales growth in the Construction Materials, Engineered Transportation Solutions and Interconnect Technologies segments.
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\”Despite the strong first quarter, we remain cautious in our full-year outlook. We are experiencing escalating raw material costs that are expected to negatively impact future quarters,\” said David A. Roberts, president and CEO.
Construction Materials first quarter sales of $216.5 million increased by 4.3 percent, while EBIT increased to $19.3 million from $5.4 million for the same period in 2009. The increase in sales was primarily due to higher volume in the Company’s commercial reroofing and international markets, offset by selling price decreases and lower demand in the insulation product line.
Engineered Transportation Solutions first quarter sales of $212.1 million increased by 4 percent, while EBIT decreased 16 percent to $13.6 million. Higher volume in the power sports and transmission belt product lines were partially offset by volume declines in the outdoor power equipment market.
Interconnect Technologies first quarter sales of $61.9 million increased by 41 percent, and EBIT nearly doubled to $7.8 million from $4.0 million for the same period in 2009. The acquisitions of Jerrik and ECS contributed $14.7 million, or 33 percent, to net sales in the current quarter. Organic sales increased by 7.5 percent in the first quarter of 2010, primarily due to growth within the aerospace market of 16 percent.
FoodService Products first quarter 2010 sales declined 3.2 percent to $56.8 million, and EBIT increased by 59 percent to $6.5 million. Sales declines in the healthcare market were partially offset by increases in the foodservice and janitorial/sanitation product lines as well as strengthening sales from international customers.
Specialty Products first quarter sales of $14.7 million decreased by 14 percent from net sales of $17.1 million, and EBIT loss was $0.2 million, compared to a loss of $2.6 million for the same period in 2009. The decline in sales was attributable to lower demand and reduced selling prices in the specialized trailer business.
