Brady Corp. Issues FY17 Guidance - Quick Facts

(RTTNews) - Brady Corp. (BRC) announced the company anticipates organic sales to range from a low single-digit decline to slightly positive growth for the year ending July 31, 2017. Brady expects earnings per Class A common share to range from $1.55 to $1.70. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.64. Analysts' estimates typically exclude special items.

Brady's CEO, Michael Nauman, said: "We finished fiscal 2016 with GAAP EPS of $1.58, which is a 24 percent increase compared to non-GAAP EPS of $1.27 in the prior year. As we look forward, our top priorities remain unchanged, which are to grow our pipeline of innovative new products, deliver operational efficiencies, and serve our customers exceptionally well. We anticipate increasing our investments in new products in fiscal 2017."

Fourth-quarter earnings per Class A Nonvoting Common Share were $0.49, compared to a loss per Class A Nonvoting Common Share of $0.77, last year. Non-GAAP earnings per Class A Nonvoting Common Share were $0.28 for the prior year quarter. During the quarter ended July 31, 2016, the company benefited from a lower income tax rate primarily due to the settlement of certain tax audits. The company said, if the tax rate for the quarter ended July 31, 2016 would have been at the historical average of approximately 28%, it would have reduced earnings per Class A Nonvoting Common Share by approximately $0.04.

Fourth-quarter sales decreased 2.3 percent to $282.1 million compared to $288.6 million, prior year. Total organic sales decreased 0.9 percent and foreign currency translation decreased sales by 1.4 percent.