Posted February 21, 2011
Brady Corp. sales up 11.2 percent
Brady Corporation said its sales for the fiscal 2011 second quarter were up 11.2 percent to $329.0 million compared to $295.8 million in the second quarter of fiscal 2010.
Organic sales growth was 9.8 percent, acquisitions net of divestitures contributed 1.8 percent to sales, and the impact of foreign currency translation decreased sales by 0.4 percent.
Net income was $24.2 million, or 46 cents per share, compared to $15.0 million, or 28 cents per share, in the same quarter last year.
Sales for the six-month period were up 7.2 percent to $658.6 million compared to $614.3 million in the same period last year.
Net income for the six months was up 37.7 percent to $50.5 million compared to $36.7 million in the same period in fiscal 2010.
"We are pleased to see strong organic sales growth in all our regions, and are encouraged by the substantial growth in earnings resulting from the increased organic sales and our on-going focus on improving profitability," said Frank M. Jaehnert, Brady's president and chief executive officer.
