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UPDATE 1-Carlisle Q1 beats Street view
April 27, 2010 / 1:39 PM / 7 years ago

UPDATE 1-Carlisle Q1 beats Street view

* Q1 EPS $0.39 vs est $0.26

* Q1 rev up 6 pct

* Rising raw material costs a worry

April 27 (Reuters) - Diversified manufacturer Carlisle Cos Inc (CSL.N) posted better-than-expected quarterly results on higher sales at its engineered transportation solutions unit, but said it expects rising raw material costs to negatively impact its coming quarters.

For the first quarter, the company reported net income of $24.3 million, or 39 cents a share, compared with $6.6 million, or 11 cents a share, a year ago.

Net sales for the maker of specialty tires, wheels and aerospace cables rose 6 percent to $562 million.

Analysts on average were expecting the company to earn 26 cents a share on revenue of $503.1 million, according to Thomson Reuters I/B/E/S.

Sales at its engineered transportation solutions segment rose 4 percent to $212.1 million.

Carlisle said it incurred consolidation and closure costs of $2.9 million for the quarter and expects an additional $17 million in related costs for the balance of 2010.

Shares of the Charlotte, North Carolina-based company were down 1 percent at $41.31 in morning trade Tuesday on the New York Stock Exchange. (Reporting by Fareha Khan in Bangalore; Editing by Maju Samuel) (fareha.khan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800 Reuters Messaging: fareha.khan.reuters.com@reuters.net))

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