Carlisle Companies Reports $0.74 Earnings Per Share From Continuing Operations For The Fourth Quarter; Earnings Per Share Includes Charges Of $0.08 For Pension And Business Development
David A. Roberts, Chairman, President and CEO, said, “2012 was an excellent year for Carlisle. We achieved record results for sales, EBIT (earnings before interest and taxes), income from continuing operations and cash flow from operations. Our EBIT margin for the year improved by 320 basis points to 11.7%, representing significant progress towards our long-term goal of achieving 15% operating margins.
“Carlisle Construction Materials (CCM) had a record year during 2012, with full year sales of $1.70 billion and EBIT of $273.4 million, increases over 2011 of 14% and 54%, respectively. CCM’s EBIT margin improved 410 basis points to 16.1% on strong selling price execution and solid operational performance throughout the year. CCM successfully integrated its acquisitions of PDT in Germany and Hertalan in The Netherlands and is now the leading supplier in the growing EPDM (rubber) single-ply roofing market in Europe.
“Carlisle Interconnect Technologies (CIT) also had a record year in 2012 with sales of $463.1 million, and EBIT of $69.1 million, increases over 2011 of 55% and 65%, respectively. The strong performance was driven by the successful integration of the Tri-Star acquisition and 23% organic sales growth. CIT completed its record year with the acquisition of Thermax and Raydex (collectively “Thermax”) in December 2012 for $266 million. The Thermax acquisition strengthens CIT’s product and service capabilities in the aerospace market and adds presence in higher margin industrial applications.“Carlisle Transportation Products (CTP) achieved significant margin and operating improvements during 2012. CTP’s EBIT improved almost 500% from $9.1 million in 2011 to $52.4 million in 2012 through continued execution of its performance improvement plan and solid selling price realization. With the relocation of its Chinese belt production back to the United States in late 2012, CTP’s restructuring is now complete. The belt consolidation is expected to provide further earnings improvement in 2013.
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