The 2020 Mid-Year Economic Update_long

Brady Corp. Sales Down 2.9% in 2Q

Year-to-date sales down 1 percent.

Safety products manufacturer Brady Corp. (NYSE: BRC), Milwaukee, WI, reported sales for the second quarter ended Jan. 31, 2015, of $282.6 million, a decrease of 2.9 percent from the same quarter the previous year. Profit decreased 29.5 percent to $11.6 million.

Organic sales increased 1.4 percent for the quarter, with increases of 1.9 percent in identification solutions and 0.6 percent in workplace safety.

For the first six months of the fiscal year, sales were $592.9 million, a 1 percent decrease from the same period the previous year. Profit decreased 37.6 percent to $25.2 million.

Organic sales increased 1.9 percent for the first six months, with increases of 2.1 percent in identification solutions and 1.5 percent in workplace safety.

“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," said J. Michael Nauman, president and CEO.

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