Brady sales up 6.8 percent
Brady Corporation's fiscal 2014 second quarter sales were up 6.8 percent to $291.2 million compared to $272.7 million in the second quarter of fiscal 2013.
Organic sales were down 1.1 percent, the acquisition of Precision Dynamics Corporation added 8.5 percent to sales, and the impact of foreign currency translation decreased sales by 0.6 percent. By segment, organic sales were up 2.5 percent in Identification Solutions and down 6.8 percent in Workplace Safety.
Net earnings for the quarter were $16.4 million, or 31 cents per share, compared to a net loss of $8.7 million, or 17 cent loss, in the same quarter last year.
Sales from continuing operations for the first six months of the fiscal year were up 9.9 percent to $598.7 million compared to $544.7 million in the same period in fiscal 2013.
“Our Identification Solutions business continued its steady revenue performance in the second quarter with 2.5 percent organic sales growth and 15.8 percent growth including sales from the PDC acquisition. During the quarter, sales in our Workplace Safety platform were down 7.7 percent which was below our expectations. We have been accelerating investments in our Workplace Safety business to drive organic sales growth,” said chief financial officer and interim president and CEO, Thomas J. Felmer.
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.
