Brady Corp. today announced fiscal second quarter net income of $19.7 million, or 36 cents per share, which was down from $21.3 million, or 43 cents per share, in the same period a year ago, even though the company's sales soared.
The company's fiscal 2007 earnings per share results include the effect of the issuance of an additional 4.6 million shares of stock through an equity offering in the fourth quarter of fiscal 2006
The Milwaukee manufacturer of identification solutions reported quarterly sales of $321.3 million, up from $231.0 million a year earlier.
"We are pleased to see solid revenue growth and profitability in the quarter in both the Americas and Europe. In the Asia/Pacific region, which has been exceptionally strong for a number of previous quarters, we are now feeling the effects of some volatility and pricing pressure in the mobile-handset and hard-disk-drive markets on our business," said Frank Jaehnert, president and chief executive officer of Brady Corp. "We are addressing this, in part, by re-balancing our global die-cut manufacturing capacity and accelerating the integration activities within our newly acquired die-cut businesses. We remain confident in our long-term plans and are making no major changes to our growth strategy."
Brady Corp. reports strong sales growth
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