Posted February 20, 2010
Brady Corp.'s sales rise 11%
Brady Corporation said its sales for the quarter were up 11% to $295.8 million compared to $266.4 million in the second quarter of fiscal 2009.
Organic sales were up 2.9%, acquisitions contributed 0.9% to sales, and the impact of foreign currency translation improved sales by 7.2%. By segment, organic sales declined 4.3% in the Americas, 1.6% in Europe and were up 25.7% in the Asia-Pacific region.
Net income for the quarter was $15.0 million compared to a net loss of $4.2 million in the fiscal 2009 second quarter.
Sales for the six months ended Jan. 31 were $614.3 million compared to $644.8 million in the same period last year.
“I’m encouraged to see our quarterly organic sales improve on a year-over-year basis, fueled by growth in our Asia-Pacific business. I’m also pleased with the continued improvement in our gross margin. However, we remain cautious about the stability of the global economy and we continue our vigilance on cost controls while continuing to strategically invest in our future,” said Frank M. Jaehnert, president and CEO.
