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Carlisle Cos.’s Q4, year-end earnings come up short

Carlisle Cos., parent company of Carlisle Syntec in Carlisle reported year-end and fourth-quarter earnings that did not meet forecasts, although it reported higher earnings year over year.

Carlisle Cos. Inc. reported net sales from continuing operations of $790 million for the quarter ended Dec. 31, a 9.1 percent increase from $724 million in the year-ago quarter, according to a news release. Income from continuing operations in the fourth quarter 2014 declined 12 percent to $53.2 million, or 81 cents per diluted share, compared with $60.2 million, or 92 cents per diluted share, in 2013.

For the full year 2014, Carlisle reported record net sales from continuing operations of $3.20 billion, an 8.9 percent increase from $2.94 billion for the prior year. For the full year 2014, Carlisle reported record income from continuing operations of $251.7 million, or $3.83 per diluted share, a 7 percent increase over income of $235.2 million, or $3.61 per diluted share, in 2013.

Carlisle Cos., based in North Carolina, said performance at Carlisle Construction Materials was not up to expectations in the quarter. CCM is the parent division of Carlisle Syntec Inc., which produces roofing membranes. The company employs several hundred people at its facility on Ritner Highway in Carlisle and spent much of 2014 constructing a 72,500-square-foot facility expansion project nearby.

Annie McCarren, spokeswoman for Carlisle Syntec, declined to confirm whether facility construction is complete or the current employee count at Carlisle Syntec.

For the full year 2014, CCM achieved record sales of $1.94 billion, an 8.9 percent increase over the prior year. Net sales in the fourth quarter 2014 grew 5.1 percent to $463.2 million, reflecting organic sales growth of 5.5 percent, primarily due to higher sales volume of roofing systems and polyiso applications, the release said.

“The sales momentum we achieved throughout the year slowed in November and December, primarily impacted by the early onset of winter conditions compounded by lower than expected demand,” said David A. Roberts, chairman and CEO.

Carlisle Cos. trades its shares on the NYSE under the ticker symbol CSL.

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