Brady Corp (NYSE:BRC) saw its moved up Friday morning, on the latest quarterly earnings.
Income before income taxes was $47.1 million for the fourth quarter of fiscal 2019 compared to $45.2 million for the fourth quarter of fiscal 2018. Income before income taxes included a gain on the sale of the Runelandhs business of $4.7 million in the fourth quarter of fiscal 2018.
Net income for the quarter ended July 31, 2019, was $36.6 million compared to $35.0 million in the same quarter last year. The sale of the Runelandhs business increased net income by $4.7 million in the fourth quarter of fiscal 2018.
The Milwaukee-based Brady, which claims to be a world leader in identification solutions, reported sales for the quarter decreased 0.7%, which consisted of organic sales growth of 1.7%, a decrease in sales of 1.9% from foreign currency translation, and a decline in sales of 0.5% from the divestiture of our Runelandhs business during the fourth quarter of fiscal 2018.
Sales for the quarter ended July 31, 2019 were $295.3 million compared to $297.5 million in the same quarter last year. By segment, sales increased 1.8% in Identification Solutions and decreased 7.8% in Workplace Safety, which consisted of organic sales growth of 3.3% in Identification Solutions and an organic sales decline of 2.6% in Workplace Safety.
Said CEO Michael Nauman, "Our investment in the development of innovative new products, and our dedication to providing excellent customer service continue to drive positive results as we posted our ninth consecutive quarter of organic sales growth."
Shares advanced $1.51, or 2.9%, to $49.96
