Brady Corporation (NYSE: BRC) came out with quarterly earnings Thursday.
The Milwaukee-based Brady, a world leader in identification solutions, reported first-quarter earnings before income taxes increased 14.8% to $39.9 million for the quarter ended October 31, 2018, compared to $34.8 million in the same quarter last year.
Net earnings for the quarter ended October 31, 2018, were $30.6 million compared to $25.8 million in the same quarter last year.
Sales for the quarter ended October 31, 2018 increased 1% which consisted of organic sales growth of 4.7%, a decrease in sales of 2% from foreign currency translation, and a decrease in sales of 1.7% from the divestiture of a business in the fourth quarter of fiscal 2018. Sales for the quarter ended October 31, 2018 were $293.2 million compared to $290.2 million in the same quarter last year.
CEO Michael Nauman said, "Our investments to increase organic sales growth through the development of innovative new products and to provide increased value to our customers is paying off as we reported 4.7% organic growth this quarter, which marks our sixth consecutive quarter of organic sales growth.
"This quarter also represents our thirteenth consecutive quarter of year-over-year pre-tax earnings growth. We apply a consistent and balanced approach to generating organic sales growth while driving sustainable efficiency gains throughout our global operations and SG&A structure."
Shares lost 56 cents, or 1.3%, Thursday to $41.41
