05.28.18
Brady Corporation reported its financial results for its fiscal 2018 third quarter ended April 30, 2018.
Earnings before income taxes increased 20.7%, finishing at $37.0 million for the third quarter of fiscal 2018 compared to $30.6 million for the third quarter of fiscal 2017. Net earnings for the quarter ended April 30, 2018, were $26.0 million compared to $22.6 million in the same quarter last year.
Earnings per diluted Class A Nonvoting Common Share were $0.49 for the third quarter of fiscal 2018, compared to $0.43 in the same quarter last year.
Sales for the quarter ended April 30, 2018 increased 8.2% to $298.4 million compared to $275.9 million in the same quarter last year. By segment, sales increased 7.8% in Identification Solutions and 9.1% in Workplace Safety, which consisted of organic sales growth of 3.7% in Identification Solutions and 1.7% in Workplace Safety.
Earnings before income taxes increased 17.7%, finishing at $106.8 million for the nine-month period ended April 30, 2018, compared to $90.7 million in the same period last year.
Net earnings for the nine-month period ended April 30, 2018 were $56.1 million compared to $70.4 million in the same period last year. Earnings per diluted Class A Nonvoting Common Share were $1.07 for the nine-month period ended April 30, 2018, compared to $1.36 in the same period last year
Sales for the nine-month period ended April 30, 2018 increased 6.3% to $876.4 million compared to $824.1 million in the same period last year. By segment, sales increased 6.7% in Identification Solutions and 5.6% in Workplace Safety, which consisted of organic sales growth of 3.7% in Identification Solutions and an organic sales decline of 0.1% in Workplace Safety.
“Our continued focus on innovation and the development of high-quality products resulted in organic sales growth of 3.2% in the quarter, which was driven by both the Identification Solutions and Workplace Safety businesses. This marks our fourth consecutive quarter of organic sales growth and our 11th consecutive quarter of year-over-year pre-tax earnings growth,” said Brady’s President and Chief Executive Officer, J. Michael Nauman. “We expect this positive organic sales trend to continue as we launch innovative new products in our Identification Solutions business, and as our Workplace Safety business returns to consistent quarterly organic sales growth and realizes benefits over the long-term due to its product innovation efforts.”
“Our cash generation remains strong,” said Brady’s CFO Aaron Pearce. “Even after significantly increasing our investments in research and development, we still increased our net cash provided by operating activities by 23.6% this quarter and significantly increased our investments in capital expenditures. We also repaid $11.7 million in debt and finished in a net cash position of $72.7 million as of April 30, 2018. Our strong balance sheet provides us with significant flexibility for investing in opportunities to drive long-term value for our shareholders.”
Earnings before income taxes increased 20.7%, finishing at $37.0 million for the third quarter of fiscal 2018 compared to $30.6 million for the third quarter of fiscal 2017. Net earnings for the quarter ended April 30, 2018, were $26.0 million compared to $22.6 million in the same quarter last year.
Earnings per diluted Class A Nonvoting Common Share were $0.49 for the third quarter of fiscal 2018, compared to $0.43 in the same quarter last year.
Sales for the quarter ended April 30, 2018 increased 8.2% to $298.4 million compared to $275.9 million in the same quarter last year. By segment, sales increased 7.8% in Identification Solutions and 9.1% in Workplace Safety, which consisted of organic sales growth of 3.7% in Identification Solutions and 1.7% in Workplace Safety.
Earnings before income taxes increased 17.7%, finishing at $106.8 million for the nine-month period ended April 30, 2018, compared to $90.7 million in the same period last year.
Net earnings for the nine-month period ended April 30, 2018 were $56.1 million compared to $70.4 million in the same period last year. Earnings per diluted Class A Nonvoting Common Share were $1.07 for the nine-month period ended April 30, 2018, compared to $1.36 in the same period last year
Sales for the nine-month period ended April 30, 2018 increased 6.3% to $876.4 million compared to $824.1 million in the same period last year. By segment, sales increased 6.7% in Identification Solutions and 5.6% in Workplace Safety, which consisted of organic sales growth of 3.7% in Identification Solutions and an organic sales decline of 0.1% in Workplace Safety.
“Our continued focus on innovation and the development of high-quality products resulted in organic sales growth of 3.2% in the quarter, which was driven by both the Identification Solutions and Workplace Safety businesses. This marks our fourth consecutive quarter of organic sales growth and our 11th consecutive quarter of year-over-year pre-tax earnings growth,” said Brady’s President and Chief Executive Officer, J. Michael Nauman. “We expect this positive organic sales trend to continue as we launch innovative new products in our Identification Solutions business, and as our Workplace Safety business returns to consistent quarterly organic sales growth and realizes benefits over the long-term due to its product innovation efforts.”
“Our cash generation remains strong,” said Brady’s CFO Aaron Pearce. “Even after significantly increasing our investments in research and development, we still increased our net cash provided by operating activities by 23.6% this quarter and significantly increased our investments in capital expenditures. We also repaid $11.7 million in debt and finished in a net cash position of $72.7 million as of April 30, 2018. Our strong balance sheet provides us with significant flexibility for investing in opportunities to drive long-term value for our shareholders.”