Brady Q4 Earnings Beat Estimates - Quick Facts

(RTTNews) - Brady Corp. (BRC), a provider of identification solutions, Thursday reported a net loss for the fourth-quarter, significantly due to certain impairment and restructuring charges. Excluding charges, the company reported earnings that beat the consensus estimates.

Loss from continuing operations was $176.2 million or $3.41 per Class A nonvoting common share, compared with earnings of $20.9 million or $0.40 per Class A nonvoting common share last year. This year results included non-cash impairment charges of $204.4 million, $15.6 million restructuring charges, and $4 million acquisition-related charges.

Excluding the charges earnings were $0.53 per share for the fourth quarter.

On average, five analysts polled by Thomson Reuters expected earnings per share of $0.51 for the quarter. Analysts' estimates typically exclude one-time items.

Including a $1 million loss from discontinued operations, for the three-month period, the company reported a net loss of $177.2 million or $3.43 per class A nonvoting common share, compared with net earnings of $11.6 million or $0.22 per class A nonvoting common share during the same quarter last year. Sales from continuing operations increased 14.9 percent to $309.1 million from prior year's $269.1 million. The Street expected the company to report revenues of $307.13 million.