Brady Corporation (NYSE: BRC) (“Brady” or “Company”), a world leader in identification solutions, today reported its financial results for the fiscal 2012 second quarter ended January 31, 2012. Quarter Ended January 31, 2012 Results : Sales for the fiscal 2012 second quarter were down 2.6 percent to $320.6 million compared to $329.0 million in the second quarter of fiscal 2011. Organic sales declined by 1.8 percent, divestitures net of acquisitions reduced sales by 0.4 percent, and the impact of foreign currency translation decreased sales by 0.4 percent. By segment, organic sales increased 2.9 percent in the Americas, declined 5.7 percent in Europe and declined 4.4 percent in the Asia-Pacific region. During the second quarter ended January 31, 2012, the Company recorded a non-cash impairment charge of $115.7 million for the write down of goodwill in the Asia-Pacific region. Operating results and financial forecasts in the Asia-Pacific region have been impacted by reduced sales volumes to one of the Company’s major mobile handset customers due to shifts in end market shares and compressed gross profit margins caused primarily by increased competition in the mobile handset industry. This non-cash impairment charge does not impact the Company’s future cash flow, profitability, liquidity, or compliance with debt covenants in its various credit agreements. Net income (loss) in the fiscal 2012 second quarter was $(90.0) million compared to $24.2 million in the same quarter last year. Excluding the impact of the non-cash goodwill impairment charge outlined above and prior year restructuring charges, net income for the quarter ended January 31, 2012 was flat at $25.7 million. Earnings (loss) per diluted Class A Common Share in the fiscal 2012 second quarter were $(1.72) compared to $0.46 in the same quarter last year. Excluding the impact of the non-cash goodwill impairment charge and prior year restructuring charges, earnings per diluted Class A Common Share were up 2.1 percent to $0.49 for the quarter ended January 31, 2012 compared to $0.48 in the same period in fiscal 2011.