Corp. announces sales decrease in second quarter
Special to The
Feb. 19, 2015
MILWAUKEE — During the second
quarter, Brady Corporation had a decrease in sales while
earnings increased slightly.
According to the Thursday report, Brady’s sales for the quarter
ended Jan. 31 decreased 2.9 percent to $282.6 million compared
to $291.2 million in the second quarter of fiscal 2014. Total
organic sales increased 1.4 percent and foreign currency
translation decreased sales by 4.3 percent.
Earnings from continuing operations for the second quarter were
$11.6 million compared to $10.5 million for the same period a
year prior, according to Brady.
“This marks the fourth consecutive quarter of organic sales
growth for Brady Corporation and the third consecutive quarter
of organic sales growth in our Workplace Safety business. Our
gross profit margin is also stabilizing as we near completion of
our facility consolidation activities. Our gross profit margin
finished at 48.9 percent, which is a 50 basis point improvement
over the first quarter of fiscal 2015,” said Brady President and
Chief Executive Officer J. Michael Nauman in a statement.
“Although our profitability was impacted by costs related to the
consolidation of our manufacturing facilities, the level of
incremental costs is moderating and we expect completion of
these activities by the end of fiscal 2015.”
Headquartered in Milwaukee, Brady Corporation is an
international manufacturer and marketer of complete solutions
that identify and protect people, products and places.