Posted May 19, 2010
Brady income climbs 31.9 percent
Brady Corporation reported sales for the quarter were up 16.3 percent to $321.9 million compared to $276.7 million in the fiscal 2009 third quarter.
Organic sales were up 8.5 percent compared to the prior year, acquisitions contributed 2.0 percent to sales, and the impact of foreign currency exchange added 5.8 percent to sales in the quarter. Regionally, organic sales grew 9.7 percent in the Americas, 6.1 percent in Europe and 9.4 percent in the Asia-Pacific region.
Net income for the quarter was up 31.9 percent to $23.7 million compared to $18.0 million in the same quarter last year.
Sales for the nine–month period ended April 30 were $936.2 million compared to $921.5 million in the same period last year, up 1.6 percent. Net income for the nine-month period was up 18.5 percent to $60.4 million compared to $50.9 million in the same period in fiscal 2009.
"We are pleased to see organic sales growth return in all regions, as well as improvement in our profitability. While we remain cautious about the stability of the global economy, we continue to invest in our future with robust new product development and other organic growth programs to expand the breadth of our product offerings and increase our market share," said Brady president and CEO Frank M. Jaehnert.
