Carlisle Posts Profit Against Shrinking Sales

(Tire Review) Carlisle Companies Inc. posted third quarter profit of $45 million against a sharp decline in sales. Net income for the diversified company, which produces and sells specialty tyres among its products, was still down versus the same period last year. Sales for the quarter fell 27 per cent to $604.6 million. Company officials said Carlisle expects the next two quarters to be “challenging” due to rising raw materials costs. At the same time, Carlisle expects total 2009 revenue to come in at $2.97 billion, down 25 per cent compared to fiscal 2008.