Brady Organic Sales Down 2% in 1Q - Modern Distribution Management

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Brady Organic Sales Down 2% in 1Q

Including acquisitions, sales were up 13 percent in the quarter.

Brady Corp. (NYSE: BRC), Milwaukee, WI, reported sales for its fiscal first quarter ended Oct. 31 of $306 million, up 13 percent over the same period a year ago. Organic sales fell 2.2 percent.

Profit for the manufacturer fell 12 percent to $23.9 million.

By segment, organic sales were up 3 percent in identification solutions and down 10 percent in workplace safety.

“Net Earnings from Continuing Operations Per Diluted Class A Nonvoting Common Share Excluding Certain Items.”

“We completed the reorganization of our company to focus on two business platforms, identification solutions and workplace safety that will provide long-term growth for Brady," said CFO and interim president and CEO Thomas J. Felmer.

The company anticipates organic sales from continuing operations in fiscal 2014 to range from a slight contraction to low single-digit growth, with organic sales down in the first half of the year and returning to growth in the second half of fiscal 2014.

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