6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Safety products manufacturer Brady Corp., Milwaukee, WI, reported sales for fiscal 2014 of $1.2 billion, up 5.8 percent over fiscal 2013. Brady reported a net loss of $46 million for the year, compared to a year-ago loss of $154.5 million.
Sales for the fourth quarter ended July 31 were $316.7 million, a 2 percent increase over the same period a year ago. Organic sales increased 1.1 percent for the quarter and 2.9 percent for the full fiscal year. Net loss for the quarter was $110.4 million compared to a loss for the same period one year ago of $177.3 million.
“Although we had organic sales growth, we were not pleased with our profitability performance as we continued to incur costs related to the consolidation of our facilities and have been experiencing challenges in terms of sales mix and pricing,” said Brady President and CEO J. Michael Nauman. “Our overall facility consolidation efforts have been scaled back, and we will continue to execute the facility consolidation activities in a manner that will allow us to maintain the highest service levels and least disruptions to our customers while still achieving efficiency gains over the long run.”