2:11 PM, Sep 7, 2017 — Brady (BRC), a Milwaukee-based identification and security products maker, posted net income and revenue that were higher than Wall Street analysts’ estimates as the identification products segment reported stronger organic sales.
Net income in the quarter ended July 31, was $25.2 million, or $0.48 per share, compared with $25.1 million, or $0.49 per share, in the same quarter a year earlier, the company said in a statement on Thursday. This topped the $0.46 average estimate of analysts in a Capital IQ poll.
A difference in the corporate tax rate, which was 29.7% for the 2017 quarter and 21.5% for the year-earlier quarter, had a significant impact on net income, the company said. At the operating level, earnings before income taxes increased to $35.9 million, compared with $32 million a year earlier.
Revenue rose to $289.2 million from $282.1 million a year earlier, with a 3% increase in organic sales, led by identification products, which had 4.4% organic sales growth. Organic sales of workplace safety contracted 0.6%.
In the 2018 fiscal year, the company expects earnings per share of $1.85 to $1.95 from $1.84 reported for the 2017 fiscal year. Analysts are predicting earnings of $1.90 per share.
Companies: Brady Corporation
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