Brady Corporation (NYSE: BRC) saw its shares fairly flat Thursday, on the release of fourth-quarter figures.
The Milwaukee-based company reported earnings before income taxes increased 26.0% to $45.2 million for the fourth quarter of fiscal 2018 compared to $35.9 million for the fourth quarter of fiscal 2017.
Earnings before income taxes included a gain on the sale of the Runelandhs business of $4.7 million in the fourth quarter of fiscal 2018. The gain on the sale represents approximately half of the increase in earnings before income taxes.
Net earnings for the quarter ended July 31, 2018, were $35.0 million compared to $25.2 million in the same quarter last year. The sale of the Runelandhs business increased net earnings by $4.7 million in the fourth quarter of fiscal 2018. Sales for the quarter ended July 31, 2018 increased 2.9% to $297.5 million compared to $289.2 million in the same quarter last year.
The Company expects organic sales growth to range from 2% to 4% for the year ending July 31, 2019. Brady expects earnings per diluted Class A Nonvoting Common Share to range from $2.15 to $2.25.
This guidance is based upon a full-year income tax rate in the mid-20% range, and depreciation and amortization expense of approximately $26 million.
Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect people, products and places.
Brady shares acquired five cents Thursday to $41.55, within a 52-week trading range of $35.00 to $42.00.
