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Brady Corp. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: December 5, 2012 05:07PM

Brady Corp. (BRC) filed Quarterly Report for the period ended 2012-10-31. Brain Resource Limited has a market cap of $23.8458 million; its shares were traded at around $0.013 . Brain Resource Limited had an annual average earning growth of 7.2% over the past 10 years.



Highlight of Business Operations:

Sales for the quarter ended October 31, 2012, decreased 3.4% to $337.6 million, compared to $349.5 million in the same period of the last fiscal year. Of the 3.4% decrease in sales, organic sales decreased by 1.9%, and fluctuations in the exchange rates used to translate financial results into the United States Dollar reduced sales by 2.1%. Acquisitions, net of divestitures increased sales by 0.6% during the three months ended October 31, 2012. The decrease in organic sales for the quarter ended October 31, 2012, was comprised of 0.7%, 3.2% and 2.5% decreases in sales in the Americas, EMEA and Asia-Pacific segments, respectively. Net income for the quarter ended October 31, 2012, was $27.2 million or $0.53 per diluted Class A Nonvoting Common Share, a decrease of 16.9% from $32.7 million or $0.62 per diluted Class A Nonvoting Common Share reported in the first quarter of last fiscal year.

Selling, general, and administrative expenses (“SG&A”) decreased 0.6% to $108.3 million for the three months ended October 31, 2012, compared to $108.9 million for the same period in the prior year. SG&A expense as percentage of sales increased to 32.1% in the first quarter of fiscal 2013 compared to 31.2% in the same quarter last year. The increase in SG&A as a percentage of sales was due to the Company’s continued focus on reinvestment in growth initiatives, as well as the decline in sales during the current period.

Net income for the three months ended October 31, 2012, decreased 16.9% to $27.2 million, compared to $32.7 million for the same quarter of the previous year. Net income as a percentage of sales decreased to 8.1% for the quarter ended October 31, 2012, from 9.4% for the same period in the prior year. The losses on the sales of Brady Medical and Varitronics were $3.2 million, or $0.06 per diluted Class A Common Share.

Sales in the Americas decreased 3.4% to $148.7 million for the quarter ended October 31, 2012, compared to $153.9 million for the same period in the prior year. Organic sales declined by 0.7%, the divestitures of Brady Medical and Varitronics decreased sales by 1.6%, and fluctuations in the exchange rates used to translate financial results into the U.S. dollar decreased sales by 1.1%.

Sales in EMEA decreased 4.2% to $93.2 million for the quarter ended October 31, 2012, compared to $97.4 million for the same period in the prior year. Organic sales declined by 3.2%, acquisitions net of divestitures increased sales by 4.7%, and fluctuations in the exchange rates used to translate financial results into the U.S. dollar decreased sales by 5.7%.

Read the The complete Report



Stocks Discussed: BRC,
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