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CARLISLE REPORTS FIRST QUARTER RESULTS

 BOSTON, April 27 /PRNewswire/ -- Carlisle Plastics, Inc. (NYSE: CPA) reported today net sales of $90.8 million for the first quarter of 1993, an increase of 4 percent vs. the comparable period in 1992. Unit sales increased more than 6 percent for the same period. The company reported net income in the first quarter of 1993, of $2.0 million or 12 cents per share, compared to $1.7 million, or 10 cents per share in the comparable 1992 period.
 The interest expense of $5.9 million for the first quarter of 1993 was $1.1 million higher than the interest expense for the comparable period in 1992 due to the issuance of the company's 10.25 percent Notes due 1997, in June 1992. During the quarter the company retired $5.0 million of its 13-3/4 Notes, due 1997. The company recorded an after-tax charge of $0.2 million related to the early extinguishment of debt. The company also recorded a $1.6 million net adoption of FAS 109 Accounting For Income Taxes. The company completed the divestiture of its trucking operation for $1.5 million, which approximated book value.
 Carlisle Plastics, Inc. manufactures, sells and develops consumer and consumer-related commercial plastic products, including its Ruffies(R) brand and private-label trash bags, garment hangers and containers for milk and water.
 CARLISLE PLASTICS, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 (In thousands, except per share amounts)
 Three Months Ended March 31,
 1993 1992
 Net Sales $90,831 $86,924
 Cost of goods sold 66,495 61,793
 Gross profit 24,336 25,131
 Operating expenses 17,292 17,524
 Operating income 7,044 7,607
 Interest expense 5,930 4,838
 Interest and other income (128) (41)
 Other --- (18)
 Income before provision for
 income taxes, extraordinary item
 and cumulative effect of change
 in accounting principle 1,242 2,828
 Provision for income taxes 559 1,124
 Income before extraordinary item
 and cumulative effect of change
 in accounting principle 683 1,704
 Extraordinary item (net of
 taxes) (234) ---
 Cumulative effect of change in
 accounting principle relating
 to income taxes 1,586 ---
 Net income $2,035 $1,704
 Earnings per common share:
 Before extraordinary item and
 change in accounting
 principle 4 cents 10 cents
 Extraordinary item (1 cent) ---
 Cumulative effect of change
 in accounting principle
 relating to income taxes 9 cents ---
 Net income 12 cents 10 cents
 Common and common equivalent
 shares 17,648 17,723
 -0- 4/27/93
 /CONTACT: Rhonda Iannacone of Carlisle Plastics, 617-557-2670/
 (CPA)


CO: Carlisle Plastics, Inc. ST: Massachusetts IN: REA SU: ERN

SJ -- NE005 -- 1630 04/27/93 17:01 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
Words:437
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