MILWAUKEE – Milwaukee-based Brady
Corp.’s profit rose in the second quarter thanks to the results of a
corporate restructuring of its global operations.
For the quarter that ended Jan. 31, the maker of identification and
protection products reported net income of $16.4 million, compared
to a loss of $8.7 million a year earlier.
Brady’s sales were up 6.8 percent to $291.2 million compared to
$272.7 million in the second quarter of fiscal 2013. Sales from
continuing operations for the six-month period ending Jan. 31 were
up 9.9 percent to $598.7 million.
Earnings from continuing operations, which exclude a major
acquisition last year, fell to $13.4 million from $19.6 million a
“While we are investing to increase our competitiveness, we are
balancing our investments to ensure more profitable growth over the
long term,” said Brady’s CFO Thomas J. Felmer. “We have seen
improvements in our Asian and European Identification Solutions’
results and continue to see growth opportunities driven by our new
product pipeline and increased focus on industries such as
healthcare, food and beverage, chemical, oil and gas, and aerospace
and mass transit.”
Brady’s fiscal 2013 sales were about $1.15 billion.
Founded in 1914, the company employs about 7,400 people worldwide.
It is still undergoing its restructuring, with plans to divest its
die-cut division, which supplies precision parts for other