Brady Corp. (NYSE:BRC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Brady Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 12.77% to $0.53 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Decreased 4.17% to $309.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Brady Corp. reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.51. It beat the average revenue estimate of $307.13 million.
Quoting Management: “Fiscal 2013 was a year of unprecedented change and transformation for Brady. In addition to reorganizing our businesses around global business platforms, we also engaged in a business simplification process that resulted in a structure that brings us closer to our customers and more effectively supports our growth,” said Brady’s President and Chief Executive Officer, Frank M. Jaehnert. “In fiscal 2013, we also made significant changes in our portfolio of companies. We sold several smaller non-core businesses and announced that we are seeking a buyer for our Die-Cut business. At the same time, we completed the acquisition of PDC, which was the largest acquisition in Brady’s nearly 100-year history. PDC is a leader in healthcare identification and gives Brady a strong entrance into the healthcare identification space.
Key Stats (on next page)…