Carlisle Cos. Inc. (NYSE:CSL) on Tuesday reported net income of $75.2 million, or $1.14 per diluted share, for the second quarter, up from $8.2 million, or 13 cents per share, a year earlier.
The year-ago quarter included a net loss from discontinued operations of $56.1 million, which put a drag on the company’s earnings for that period.
Net sales in the latest quarter climbed to $895.5 million from $792.6 million a year ago. The Charlotte-based diversified manufacturer said its sales growth was led by strong performance in its Carlisle Interconnect Technologies and Carlisle Construction Materials segments.
“We achieved solid organic sales growth of 8% during the quarter with each of our segments increasing sales,” said David Roberts, chairman, president and CEO, in the company’s news release. “We leveraged our sales growth to a 12% EBIT (earnings before interest and income taxes) improvement driven by exceptional performance at CIT.”
For the six months ended June 30, Carlisle posted net income of $111 million, or $1.69 per diluted share, up from $63.4 million, or 98 cents per share, at this time last year. Its net sales for the year to date totaled $1.5 billion, up from $1.4 billion.
