Brady Corp. (BRC) Misses Q4 EPS by 5c, Offers Commentary Guidance
Brady Corp. (NYSE: BRC) reported Q4 EPS of $0.47, $0.05 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $322.5 million versus the consensus estimate of $327.18 million.
Comments:
“In the fourth quarter of fiscal 2012 we were pleased with our organic sales growth in the Americas and EMEA regions, despite a continued challenging economy. Our performance in Asia-Pacific was weaker than expected due to increased market competitiveness, particularly in the mobile handset industry. Throughout fiscal 2012, our focus has been on shifting resources to our highest growth opportunities. As a result, we have recently sold our medical die-cut business in the U.S. and our paper-label business, Etimark in Germany. We also continued to invest in developing and launching a number of proprietary new products and we made three acquisitions in EMEA that increased our market share and expanded our geographic presence,” said Brady’s President and Chief Executive Officer, Frank M. Jaehnert. “Looking forward, we expect continued moderate organic growth in the Americas, a challenging economic environment in Europe, and improving results in Asia-Pacific due to our restructuring activities and some recent customer wins there.”
“As we look to fiscal 2013, we see limited likelihood that the macro-economy will provide a tailwind,” said Brady’s Chief Financial Officer, Thomas J. Felmer. “As such, we anticipate low single-digit organic growth in fiscal 2013, with all of the growth driven by our initiatives. For fiscal 2013, we expect earnings per diluted Class A Common Share of between $2.20 and $2.40, exclusive of after-tax restructuring charges. This guidance is based on current exchange rates, a share count consistent with that as of July 31, 2012, a full-year income tax rate in the mid-to-upper 20 percent range, capital expenditures of approximately $35 million and depreciation and amortization of approximately $45 million.”
For earnings history and earnings-related data on Brady Corp. (BRC) click here.
Comments:
“In the fourth quarter of fiscal 2012 we were pleased with our organic sales growth in the Americas and EMEA regions, despite a continued challenging economy. Our performance in Asia-Pacific was weaker than expected due to increased market competitiveness, particularly in the mobile handset industry. Throughout fiscal 2012, our focus has been on shifting resources to our highest growth opportunities. As a result, we have recently sold our medical die-cut business in the U.S. and our paper-label business, Etimark in Germany. We also continued to invest in developing and launching a number of proprietary new products and we made three acquisitions in EMEA that increased our market share and expanded our geographic presence,” said Brady’s President and Chief Executive Officer, Frank M. Jaehnert. “Looking forward, we expect continued moderate organic growth in the Americas, a challenging economic environment in Europe, and improving results in Asia-Pacific due to our restructuring activities and some recent customer wins there.”
“As we look to fiscal 2013, we see limited likelihood that the macro-economy will provide a tailwind,” said Brady’s Chief Financial Officer, Thomas J. Felmer. “As such, we anticipate low single-digit organic growth in fiscal 2013, with all of the growth driven by our initiatives. For fiscal 2013, we expect earnings per diluted Class A Common Share of between $2.20 and $2.40, exclusive of after-tax restructuring charges. This guidance is based on current exchange rates, a share count consistent with that as of July 31, 2012, a full-year income tax rate in the mid-to-upper 20 percent range, capital expenditures of approximately $35 million and depreciation and amortization of approximately $45 million.”
For earnings history and earnings-related data on Brady Corp. (BRC) click here.