This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Brady Corporation Reports Fiscal 2013 Second Quarter Results And Announces Reorganization

Stocks in this article: BRC

Brady Corporation (NYSE: BRC) (“Brady” or “Company”), a world leader in identification solutions, today reported its financial results for the fiscal 2013 second quarter ended January 31, 2013 and also announced a reorganization of its business.

Quarter Ended January 31, 2013 Financial Results:

Sales for the fiscal 2013 second quarter ended January 31, 2013, were up 1.1 percent to $324.2 million compared to $320.6 million in the second quarter of fiscal 2012. Organic sales declined 3.1 percent, the impact of foreign currency translation increased sales by 0.2 percent, and acquisitions, net of divestitures added 4.0 percent. By segment, organic sales increased 0.6 percent in the Americas and decreased 5.0 percent in EMEA and 7.0 percent in the Asia-Pacific region.

During the second quarter of fiscal 2013, the Company acquired Precision Dynamics Corporation (“PDC”) for $301 million. PDC is a leader in identification products primarily for the healthcare sector with annual revenues of approximately $173 million. In connection with this acquisition, the Company incurred certain acquisition-related costs including a non-cash tax charge of $25.0 million related to the repatriation of cash to the U.S. and $5.1 million of other acquisition-related expenses. During the second quarter of fiscal 2013, the Company also realized a $5.2 million pre-tax gain on the settlement of an insurance claim related to the 2011 flood in Thailand. In the second quarter of last fiscal year, the Company recorded a non-cash impairment charge of $115.7 million for the write down of goodwill in the Asia-Pacific region. Non-routine and other items, along with restructuring charges are quantified on pages 11-12 of this news release for comparability purposes.

Net income (loss) in the fiscal 2013 second quarter was $(8.7) million compared to $(90.0) million in the same quarter last year. Non-GAAP net income* was $19.5 million in the second quarter of fiscal 2013, compared to $25.7 million in the second quarter of fiscal 2012.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs