Carlisle Cos. (CSL) - Get Free Report, a maker of transportation and construction materials, swung to a profit in the fourth quarter, led by higher revenue in its construction material segment. The company had posted a loss in the fourth quarter 2004, hit by a $29.5 million charge from discontinued business.
The company earned $23.7 million, or 77 cents a share, in the most recent quarter, compared with a loss of $10.4 million, or 33 cents a share, a year ago.
Income from continuing operations was 86 cents a share in the latest quarter, including a charge of 8 cents a share related to lease arrangements at a closed facility. Analysts surveyed by Thomson Financial were expecting the company to earn 72 cents a share.
Fourth quarter revenue rose 8.9% from a year ago to $534.2 million. Analysts were expecting revenue of $541.5 million.
The company expects to earn $4.85 to $5.05 a share in fiscal year 2006. Analysts were forecasting earnings of $4.90 a share.
Backlog from continuing operations as on Dec. 31, 2005, was $298.5 million, slightly below the year-ago backlog of $305.6 million.
Revenue from construction material rose 18% at $231.1 million, led by higher demand for roofing systems, insulation products and coatings and waterproofing products.
Revenue from industrial components fell 5.8% to $152.1 million in the quarter, due to reduced sales of wheels and transmissions.
This story was created through a joint venture between TheStreet.com and IRIS.