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 tires among its products, was still down vs. the same period last year.
Sales for the quarter fell 27% 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% compared to fiscal 2008.