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Brady Corporation Sales Up 6.8% in 2Q

Brady Corporation (NYSE: BRC), Milwaukee, WI, reported sales for the fiscal second quarter ended Jan. 31, 2014, of $291.2 million, an increase of 6.8 percent from the previous year. Profit was $16.4 million, compared to a loss of $8.7 million in the same quarter the previous year.

For the first six months of the fiscal year, sales were $598.7 million, a 9.9 percent increase from the same period the previous year. The company reported a profit of $40.4 million year-to-date, compared to $18.5 million over the same period the previous year.

Identification solutions revenues were up 15.8 percent, with 2.5 percent organic growth, while workplace safety sales were down 7.7 percent.

“We have been accelerating investments in our Workplace Safety business to drive organic sales growth." said Thomas J. Felmer, Brady’s CEO, CFO and interim president. “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, aerospace and mass transit.”

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