On Thursday, Brady Corporation (NYSE: BRC) announced its financial results for the third quarter of fiscal 2018.
According to the company, total sales for the third quarter rose 8.2% from $275.9 million for the same period last year to $298.4 million. In addition, sales of Identification Solutions increased 7.8% for the third quarter, and sales of Workplace Safety rose 9.1% for the quarter.
The company reported net earnings of $26.0 million, increasing from $22.6 million for the same period last year. Diluted earnings per share for the third quarter was $0.49 per share, also rising form $0.43 per share for the same period last year. The results were in line with analysts’ estimates of $0.49 per share.
“Our continued focus on innovation and the development of high-quality products resulted in organic sales growth of 3.2 percent in the quarter, which was driven by both the Identification Solutions and Workplace Safety businesses. This marks our fourth consecutive quarter of organic sales growth and our eleventh consecutive quarter of year-over-year pre-tax earnings growth,” J. Michael Nauman, the President and Chief Executive Officer of the company, said in the statement on Thursday.
“We take a consistent and balanced approach to driving organic sales growth while executing sustainable efficiency gains throughout our global operations and SG&A structure,” he said.
For the full year 2018, Brady expected its earnings per share to be in the range of $1.95 to $2.00 per share.