Carlisle Holdings Limited - U.S. Facilities Services Unit Update

Apr 12, 2001, 01:00 ET from Carlisle Holdings Limited

    BELIZE CITY, Belize, April 12 /PRNewswire/ --
 Carlisle Holdings Limited (Nasdaq: CLHL) (London: CLH), a leader in outsourced
 facilities services and staffing services, announced today that in the fourth
 quarter its U.S. Facilities Services unit, OneSource, will take a one-off net
 charge of approximately $18m against its earnings.  Approximately $15m of this
 relates to an exceptional charge for receivable provisions and billing
 corrections for prior periods following a major system conversion which took
 place in the second quarter.  The balance of this charge principally relates
 to certain long outstanding sales tax and legal issues.  All other Carlisle
 businesses are trading in line with expectations in the fourth quarter.
     Results for the financial year ended 31st March 2001 are scheduled to be
 released mid-May.
 
     Background Information
 
     Through its OneSource brand, Carlisle Group is a leader in the outsourced
 facilities services sector in the U.S. and provides janitorial, landscaping,
 commercial interior painting services, general repair and maintenance and
 other specialized services for more than 11,000 commercial, institutional and
 industrial accounts.  In the U.K. Carlisle Group is also a leading provider of
 outsourced facilities services, through the LI Group and Capitol Security
 Services, and has a significant presence in the staffing services sector under
 a number of leading brands, including Recruit, Indigo Selection and Tate in
 over 70 locations servicing a diverse base of over 5,000 clients in the
 following markets: IT, Finance and Banking, Office and Industrial, Education
 and Care, Retail, Truck Driving, Technical, Legal and Catering.
 
     Forward Looking Statements
 
     Certain statements in this press release constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform Act
 of 1995.  In particular, statements contained herein regarding the
 consummation and benefits of future acquisitions, as well as expectations with
 respect to future revenues, operating efficiencies, net income and business
 expansion, are subject to known and unknown risks, uncertainties and
 contingencies, many of which are beyond the control of Carlisle, which may
 cause actual results, performance or achievements to differ materially from
 anticipated results, performance or achievements.  Factors that might affect
 such forward looking statements include among others, overall economic and
 business conditions, the demand for Carlisle's services, competitive factors,
 regulatory approvals and the uncertainty of consummation of future
 acquisitions.  Additional factors which may affect Carlisle's businesses and
 performance are set forth in filings by Carlisle Holdings Limited with the
 United States Securities and Exchange Commission.
 
 

SOURCE Carlisle Holdings Limited
    BELIZE CITY, Belize, April 12 /PRNewswire/ --
 Carlisle Holdings Limited (Nasdaq: CLHL) (London: CLH), a leader in outsourced
 facilities services and staffing services, announced today that in the fourth
 quarter its U.S. Facilities Services unit, OneSource, will take a one-off net
 charge of approximately $18m against its earnings.  Approximately $15m of this
 relates to an exceptional charge for receivable provisions and billing
 corrections for prior periods following a major system conversion which took
 place in the second quarter.  The balance of this charge principally relates
 to certain long outstanding sales tax and legal issues.  All other Carlisle
 businesses are trading in line with expectations in the fourth quarter.
     Results for the financial year ended 31st March 2001 are scheduled to be
 released mid-May.
 
     Background Information
 
     Through its OneSource brand, Carlisle Group is a leader in the outsourced
 facilities services sector in the U.S. and provides janitorial, landscaping,
 commercial interior painting services, general repair and maintenance and
 other specialized services for more than 11,000 commercial, institutional and
 industrial accounts.  In the U.K. Carlisle Group is also a leading provider of
 outsourced facilities services, through the LI Group and Capitol Security
 Services, and has a significant presence in the staffing services sector under
 a number of leading brands, including Recruit, Indigo Selection and Tate in
 over 70 locations servicing a diverse base of over 5,000 clients in the
 following markets: IT, Finance and Banking, Office and Industrial, Education
 and Care, Retail, Truck Driving, Technical, Legal and Catering.
 
     Forward Looking Statements
 
     Certain statements in this press release constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform Act
 of 1995.  In particular, statements contained herein regarding the
 consummation and benefits of future acquisitions, as well as expectations with
 respect to future revenues, operating efficiencies, net income and business
 expansion, are subject to known and unknown risks, uncertainties and
 contingencies, many of which are beyond the control of Carlisle, which may
 cause actual results, performance or achievements to differ materially from
 anticipated results, performance or achievements.  Factors that might affect
 such forward looking statements include among others, overall economic and
 business conditions, the demand for Carlisle's services, competitive factors,
 regulatory approvals and the uncertainty of consummation of future
 acquisitions.  Additional factors which may affect Carlisle's businesses and
 performance are set forth in filings by Carlisle Holdings Limited with the
 United States Securities and Exchange Commission.
 
 SOURCE  Carlisle Holdings Limited