Carlisle Companies report higher sales, profits in Q2

ERJ staff report (DS)

Charlotte, North Carolina -- Carlisle Companies Inc. reported net sales from continuing operations of $870.8 million for the quarter ended June 30, 2011, a 27 percent increase from net sales of $687.6 million in the second quarter of 2010.

The Company's organic sales increase of 14 percent from the prior year period was primarily driven by strong sales growth in the Company's off-highway brake and friction, commercial re-roofing and aerospace businesses. The Carlisle Brake & Friction (“CBF”) segment's acquisition of Hawk contributed $83.5 million in sales, or 12 percent, in the second quarter of 2011.

Income from continuing operations increased 43 percent to $55.3 million compared with $38.8 million, or $0.62 per diluted share, in the second quarter of 2010.

David Roberts, Chairman, President and CEO of Carlisle Companies said, "You will also see the slide that natural rubber was up 44 percent while synthetic rubber was up 52 percent, raw materials were up $13 million in the second quarter on top of a significant raw material cost increase in the first quarter."

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Press release from Carlisle

Transcript of analyst call from Seeking ALpha (US - Wall Street)