Brady Corp.’s 1Q sales rise 14 percent

Industrial Distribution staff -- Industrial Distribution, 11/20/2007 6:56:00 AM

First-quarter sales for Brady Corp. rose 14.4 percent to $380.1 million, compared with $332.3 million during the same period last year.

Net income for the Milwaukee-based safety and identification products manufacturer rose 5.6 percent to $36.4 million, compared with $34.4 million during the first quarter of fiscal 2007.

Brady said organic sales grew 1.7 percent, with acquisitions contributing 7.5 percent.

"We are encouraged that the significant global cost-reduction activities taken in fiscal 2007 are now showing positive results. In addition, we have strengthened our position with the major players in the mobile-handset market as well as in the smaller hard-disk-drive and consumer-electronics markets," president and CEO Frank Jaehnert said. "While we are pleased with our first quarter results, we are cautious about the economy going forward. We also announced the acquisition of Transposafe last week with annual sales of $26 million.”

Jaehnert said the company expects sales of up to $1.46 billion for the full fiscal year, with net income of up to $135 million.

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