MILWAUKEE — Sales increased almost 1 percent for Brady
Corporation in the first quarter of 2015 while its
earnings declined $2.6 million, which the company
contributed partly to ongoing costs related to
consolidation of its manufacturing facilities.
According to the Thursday report, sales for the quarter
ended Oct. 31, 2014 increased 0.9 percent to $310.2
million compared to the first quarter of fiscal 2014.
Total organic sales increased 2.4 percent and foreign
currency translation decreased sales by 1.5 percent.
Earnings from continuing operations for the first
quarter were $15.5 million compared to $18.1 million in
the same quarter last year.
“We were encouraged by our revenue growth in the first
quarter, which marks the third consecutive quarter of
organic sales growth,” said Brady President and Chief
Executive Officer J. Michael Nauman in a statement.
“Although we had organic sales growth, we continued to
incur costs related to the consolidation of our
manufacturing facilities and have been experiencing
challenges in terms of sales mix. We have scaled back
our facility consolidation efforts and our remaining
facility consolidation activities will be executed in a
manner that will allow us to maintain the highest
service levels and least disruptions to our customers
while still achieving efficiency gains over the long