Brady Turns To Q2 Profit, Slashes 2014 EPS Outlook - Quick Facts

(RTTNews) - Brady Corp. (BRC), a provider of identification solutions, reported second-quarter net earnings of $16.42 million, compared to net loss of $8.68 million in the prior-year quarter, with net earnings per Class A Nonvoting Common Share of $0.31, compared to loss of $0.17.

Excluding items, adjusted earnings from continuing operations was $13.36 million, and earnings from continuing operations per Class A diluted nonvoting share was $0.25.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.38 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter increased 6.8 percent to $291.19 million from $272.70 million in the same quarter last year. Analysts expected the company to report revenues of $301.03 million.

The company noted that organic sales were down 1.1 percent, the acquisition of Precision Dynamics Corp. added 8.5 percent to sales, and the impact of foreign currency translation decreased sales by 0.6 percent.

Looking ahead, the company slashed its guidance for earnings from continuing operations per diluted Class A Nonvoting Common Share to a range of $1.55 to $1.75 from the prior forecast range of $1.80 to $2.00.

Meanwhile, the company continues to anticipate organic sales from continuing operations to range from a slight contraction to low single-digit growth.

Street is currently looking for full-year 2014 earnings of $2.09 per share on annual revenues of $1.28 billion.