Brady sales down 3.8 percent
Brady Corporation reported sales for its fiscal 2017 third quarter decreased 3.8 percent to $275.9 million compared to $286.8 million in the same quarter last year.
Total organic sales decreased 1.9 percent and the impact of foreign currency translation decreased sales by 1.9 percent. By segment, organic sales decreased 0.8 percent in Identification Solutions and decreased 4.6 percent in Workplace Safety.
Net earnings were $22.6 million, or 43 cents per diluted sahre, compared to $21.0 million, or 42 cents, in the same quarter last year.
"This quarter marks our seventh consecutive quarter of year-over-year earnings growth,” said Brady’s president and chief executive officer, J. Michael Nauman. “We believe that our focus on driving efficiencies combined with our organic sales initiatives and our new product pipeline is beginning to generate improved organic sales trends, and will continue to drive future profit improvements. That said, challenges in the distribution channel will impact our Workplace Safety business while we are more optimistic about growth in the fourth quarter in Identification Solutions.”
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.
