Brady Corp. announces sales decrease in second quarter

Special to The Freeman

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.