Brady Corp. Organic Sales Down 15.9% in 1Q 2010
Sales in the Americas were down 15.3% for Brady.
Milwaukee, WI-based Brady Corp. (NYSE:BRC) reported sales for the 2010 first quarter ended Oct. 31, 2009, were $318.5 million. Organic sales were down 15.9% from the prior-year period.
Profit for the quarter was $21.7 million, down from $37.1 million in the prior year.
By segment, sales were down 15.3% in the Americas, 12.8% in
Europe and 19.5% in Asia/Pacific.
“I’m encouraged to see sales improve by 11% from our last fiscal quarter, driven by a stabilization in our markets, as well as new-product and market-based initiatives. Compared to last year’s first quarter, our gross margins have improved by 160 basis points as a direct result of our ongoing cost-reduction efforts,” said
Frank M. Jaehnert, Brady’s president and CEO.
Brady is a manufacturer labels and signs, safety devices, printing systems and software, and precision die-cut materials. Brady’s fiscal 2009 sales were $1.2 billion.
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