Net Rises at Carlisle

Third-quarter revenue climbs 19% from a year ago.
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Carlisle

(CSL) - Get Report

, a maker of transportation and construction materials, said its third-quarter profit nearly doubled from a year-ago period.

The company earned $38.5 million, or $1.24 a share, in the most recent quarter, compared with $19.7 million, or 64 cents a share, a year ago.

Income from continuing operations was $1.39 a share in the latest quarter compared with $1.17 a share a year ago. Analysts surveyed by Thomson Financial were expecting the company to earn $1.38 a share.

Third-quarter revenue rose 19% from a year ago to $648.4 million and exceed analysts' consensus expectation of $614.7 million.

The Charlotte, N.C.-based company said that it is increasing its guidance for profit from continuing operations for the full year to a range of $5.35 to $5.50 a share, up from the previous forecast of $5.25 to $5.45 a share.

Backlog from continuing operations on Sept. 30 was $280.1 million compared with the previous year's $269.9 million. Increased backlog for the company's construction materials, braking, specialty trailer and wire and cable businesses contributed to the year-over-year improvement, the company added.

Carlisle's shares were trading down $3.92, or 4.4%, at $85.96 Tuesday.

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