Brady Corp. reports boost in earnings
Brady Corp. reported net earnings for its fiscal second quarter were $15.3 million compared to $11.6 million in the same quarter last year.
Earnings per diluted share were 30 cents, compared to 23 cents in the same quarter last year.
Sales for the quarter decreased 5.0 percent to $268.6 million compared to $282.6 million in the second quarter of fiscal 2015. Total organic sales increased 0.4 percent and foreign currency translation decreased sales by 5.4 percent. By segment, organic sales increased 0.7 percent in Identification Solutions and decreased 0.1 percent in Workplace Safety.
“Although organic sales increased in the second quarter, we expect to continue to be challenged by macro-economic conditions in certain industrial markets and geographies, including the U.S., Canada, Brazil, and China, which will continue to work against our efforts to improve results," said Brady’s president and chief executive officer, J. Michael Nauman.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
