Brady Corp Q3 Profit Declines - Quick Facts

(RTTNews) - Identification solutions provider Brady Corp. (BRC) posted lower third-quarter net earnings of $17.2 million, compared with last year's $24.1 million. Net Earnings per Class A Nonvoting Common Share slid to $0.33 from $0.46 a year ago.

Net earnings from continuing operations per Class A Nonvoting Common Share declined to $0.33 from $0.39 in the comparable quarter last year. Adjusted earnings from continuing operations per Class A Nonvoting Common Share excluding certain items declined to $0.34 from $0.43 in the prior year.

Sales for the latest third quarter decreased 6.3 percent to $290.23 million from $309.58 million. Total organic sales rose by 1.7 percent and foreign currency translation decreased sales by 8.0 percent.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share and revenues of $296.89 million for the quarter. Analysts' estimates typically exclude special items.

Brady's Chief Financial Officer Aaron Pearce said, "As a result of our customer service and operational challenges due to the facility consolidations as well as less than originally anticipated organic sales in our Workplace Safety business, we do not anticipate our fourth quarter financial results to significantly improve over what we experienced in the third quarter. As such, we expect Non-GAAP earnings from continuing operations per Class A Nonvoting Common Share to range from $0.30 to $0.40 during our fiscal 2015 fourth quarter ending July 31, 2015."

Analysts expect fourth quarter earnings of $0.45 per share.