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Carlisle Companies Reports $1.39 Earnings Per Share From Continuing Operations For The Second Quarter 2012, A 60% Increase From The Prior Year

Carlisle Companies Incorporated (NYSE:CSL) reported net sales from continuing operations of $984.6 million for the quarter ended June 30, 2012, a 13% increase from net sales of $870.8 million in the second quarter of 2011. Organic sales growth was 7.6%. Acquisitions in the Interconnect Technologies and Construction Materials segments contributed 6.0% to sales in the second quarter. The negative impact on net sales from fluctuations in foreign exchange was less than 1%.

Income from continuing operations rose 62% to $89.4 million, or $1.39 per diluted share, in the second quarter 2012, compared with $55.3 million, or $0.87 per diluted share, in the second quarter 2011. Our income growth was primarily driven by increased selling price realization particularly within Carlisle Construction Materials and Carlisle Transportation Products, sales volume growth and savings from the Carlisle Operating System.

For the six months ended June 30, 2012, net sales from continuing operations of $1.87 billion increased by 20% over the prior year period, reflecting organic growth of 14% and acquisition growth of 6.1%. Income from continuing operations for the six months ended June 30, 2012 rose 69% to $149.4 million, or $2.34 per diluted share, as compared to income of $88.6 million, or $1.40 per diluted share, for the same prior year period.

Comment

David A. Roberts, Chairman, President and Chief Executive Officer, said, “We followed our impressive first quarter with another quarter of outstanding performance. For the second quarter, we leveraged 13% sales growth into 64% EBIT growth as we continue to benefit from our focus on our high margin businesses and generate savings from the Carlisle Operating System. EBIT margin grew an outstanding 440 basis points to 14.2% in the second quarter of 2012.

“At our Construction Materials segment (CCM), EBIT margin rose an impressive 500 basis points to 18.2%, reflecting strong performance in selling price realization and operating efficiencies.

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