Carlisle Companies Incorporated (CSL) has reported 6.85 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $76.20 million, or $1.16 a share in the quarter, compared with $81.80 million, or $1.24 a share for the same period last year. Revenue during the quarter went up marginally by 1.97 percent to $893.50 million from $876.20 million in the previous year period. Gross margin for the quarter expanded 104 basis points over the previous year period to 29.89 percent. Total expenses were 87.11 percent of quarterly revenues, up from 85.65 percent for the same period last year. That has resulted in a contraction of 145 basis points in operating margin to 12.89 percent.
Operating income for the quarter was $115.20 million, compared with $125.70 million in the previous year period.
D. Christian “Chris” Koch, President and Chief Executive Officer, said, “The outstanding 2016 results are a direct reflection of the effort, execution and daily focus on continuous improvement by Carlisle’s more than 13,000 employees across the globe. We achieved record net sales and record net cash provided by operating activities. We successfully executed on our commitment to deploy capital in support of our growth strategy as further evidenced by the completion of three acquisitions in 2016 ��" MS Powder, Micro-Coax and Star Aviation. In January 2017, we announced the San Jamar acquisition in the FoodService Products segment and the European acquisition of Arbo in the Construction Materials segment. The Carlisle Operating System (COS) continues to drive operational excellence company-wide, and significantly contributed to our 2016 EBIT performance.
Operating cash flow remains almost stable
Cash flow from operating activities was almost stable for the quarter at $531.20 million, when compared with the previous year period The company has spent $293.40 million cash to meet investing activities during the year as against cash outgo of $670.80 million in the last year.
The company has spent $261.10 million cash to carry out financing activities during the year as against cash outgo of $173 million in the last year period.
Cash and cash equivalents stood at $385.30 million as on Dec. 31, 2016, down 6.18 percent or $25.40 million from $410.70 million on Dec. 31, 2015.
Working capital increases
Carlisle Companies Incorporated has recorded an increase in the working capital over the last year. It stood at $841.70 million as at Dec. 31, 2016, up 17.95 percent or $128.10 million from $713.60 million on Dec. 31, 2015. Current ratio was at 2.64 as on Dec. 31, 2016, up from 2.18 on Dec. 31, 2015.
Debt comes down
Carlisle Companies Incorporated has recorded a decline in total debt over the last one year. It stood at $596.40 million as on Dec. 31, 2016, down 19.99 percent or $149 million from $745.40 million on Dec. 31, 2015. Total debt was 15.04 percent of total assets as on Dec. 31, 2016, compared with 18.85 percent on Dec. 31, 2015. Debt to equity ratio was at 0.24 as on Dec. 31, 2016, down from 0.32 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
