Brady Corporation reports 6.3 percent decrease in sales

Freeman Staff

May 21, 2015

MILWAUKEE ó Brady Corporation reported Thursday a 6.3 percent decrease in sales for its third quarter for a total of $290.2 million in sales compared to $309.6 million in the third quarter of fiscal 2014.

Total organic sales increased 1.7 percent and foreign currency translation decreased sales by 8 percent. Earnings from continuing operations for the third quarter were $17.2 million compared to $20.2 million in the same quarter last year. Non-GAAP earnings from continuing operations for the current quarter were $17.6 million compared to $22.3 million in the third quarter of fiscal 2014.

"Iím confident that we are investing in the right initiatives to deliver shareholder value over the long term. However, we still remain challenged by operational inefficiencies stemming from certain facilities that were recently consolidated, and we are focused on executing business fundamentals to drive organic sales and improve profitability while still achieving efficiency gains over the long term. We are investing in research and development and sales resources in selected industries, as well as building an improved, scalable digital platform that will generate value for Brady and enhance our customer experience," said Brady President and Chief Executive Officer J. Michael Nauman in a statement.

www.bradycorp.com