02.22.19
Brady Corporation reported its financial results for its fiscal 2019 second quarter ended Jan. 31, 2019.
Quarter Ended Jan. 31, 2019 Financial Results:
Earnings before income taxes increased 4.8% to $36.7 million for the quarter ended Jan. 31, 2019, compared to $35 million in the same quarter last year.
Net earnings for the quarter ended Jan. 31, 2019 were $29.2 million compared to $4.3 million in the same quarter last year. Net earnings during the prior year quarter ended Jan. 31, 2018 were reduced by $21.1 million due to income tax charges primarily related to the passage of the U.S. Tax Cuts and Jobs Act of 2017.
Sales for the quarter ended Jan. 31, 2019 decreased 1.9%, which consisted of organic sales growth of 2.3%, a decrease in sales of 2.6% from foreign currency translation, and a decline in sales of 1.6% from the divestiture of business during the fourth quarter of fiscal 2018.
Sales for the quarter ended Jan. 31, 2019 were $282.4 million compared to $287.8 million in the same quarter last year. By segment, sales increased 1.3% in Identification Solutions and decreased 10% in Workplace Safety, which consisted of organic sales growth of 3.6% in Identification Solutions and an organic sales decline of 0.9% in Workplace Safety.
Six-Month Period Ended Jan. 31, 2019 Financial Results:
Earnings before income taxes increased 9.7% to $76.6 million for the six-month period ended Jan. 31, 2019, compared to $69.8 million for the six-month period ended Jan. 31, 2018.
Net earnings for the six-month period ended Jan. 31, 2019 were $59.9 million compared to $30.1 million for the six-month period ended Jan. 31, 2018. Net earnings during the prior year six-month period ended Jan. 31, 2018 were reduced by $21.1 million due to income tax charges primarily related to the enactment of the U.S. tax legislation.
Sales for the six-month period ended Jan. 31, 2019 decreased 0.4%, which consisted of organic sales growth of 3.5%, a decrease in sales of 2.2% from foreign currency translation, and a reduction in sales of 1.7% from the divestiture of business during the fourth quarter of 2018.
Sales for the six-month period ended Jan. 31, 2019 were $575.6 million compared to $577.9 million in the same six-month period last year. By segment, sales increased 2.7% in Identification Solutions and decreased 8.3% in Workplace Safety, which consisted of organic sales growth of 4.6% in Identification Solutions and 0.6% in Workplace Safety.
“Our investment in the development of innovative, high-quality products is paying off as we continue to grow organic sales and improve our new product pipeline. This organic growth, combined with our focus on driving efficiencies throughout our factories and our selling, general, and administrative structure is driving our pre-tax profit improvements,” said J. Michael Nauman, Brady’s president and CEO.
Quarter Ended Jan. 31, 2019 Financial Results:
Earnings before income taxes increased 4.8% to $36.7 million for the quarter ended Jan. 31, 2019, compared to $35 million in the same quarter last year.
Net earnings for the quarter ended Jan. 31, 2019 were $29.2 million compared to $4.3 million in the same quarter last year. Net earnings during the prior year quarter ended Jan. 31, 2018 were reduced by $21.1 million due to income tax charges primarily related to the passage of the U.S. Tax Cuts and Jobs Act of 2017.
Sales for the quarter ended Jan. 31, 2019 decreased 1.9%, which consisted of organic sales growth of 2.3%, a decrease in sales of 2.6% from foreign currency translation, and a decline in sales of 1.6% from the divestiture of business during the fourth quarter of fiscal 2018.
Sales for the quarter ended Jan. 31, 2019 were $282.4 million compared to $287.8 million in the same quarter last year. By segment, sales increased 1.3% in Identification Solutions and decreased 10% in Workplace Safety, which consisted of organic sales growth of 3.6% in Identification Solutions and an organic sales decline of 0.9% in Workplace Safety.
Six-Month Period Ended Jan. 31, 2019 Financial Results:
Earnings before income taxes increased 9.7% to $76.6 million for the six-month period ended Jan. 31, 2019, compared to $69.8 million for the six-month period ended Jan. 31, 2018.
Net earnings for the six-month period ended Jan. 31, 2019 were $59.9 million compared to $30.1 million for the six-month period ended Jan. 31, 2018. Net earnings during the prior year six-month period ended Jan. 31, 2018 were reduced by $21.1 million due to income tax charges primarily related to the enactment of the U.S. tax legislation.
Sales for the six-month period ended Jan. 31, 2019 decreased 0.4%, which consisted of organic sales growth of 3.5%, a decrease in sales of 2.2% from foreign currency translation, and a reduction in sales of 1.7% from the divestiture of business during the fourth quarter of 2018.
Sales for the six-month period ended Jan. 31, 2019 were $575.6 million compared to $577.9 million in the same six-month period last year. By segment, sales increased 2.7% in Identification Solutions and decreased 8.3% in Workplace Safety, which consisted of organic sales growth of 4.6% in Identification Solutions and 0.6% in Workplace Safety.
“Our investment in the development of innovative, high-quality products is paying off as we continue to grow organic sales and improve our new product pipeline. This organic growth, combined with our focus on driving efficiencies throughout our factories and our selling, general, and administrative structure is driving our pre-tax profit improvements,” said J. Michael Nauman, Brady’s president and CEO.