UPDATE: Brady Posts FQ4 Net Loss
Brady (NYSE: BRC) posted a loss in the fiscal fourth quarter.
For the new year, Brady projects earnings from continuing operations of $1.80 to $2 per share, versus analysts' estimates of $2.01 per share.
Brady posted a quarterly loss of $177.3 million, or $3.43 per share, versus a year-ago profit of $11.7 million, or $0.22 per share. Excluding one-time items, its earnings from continuing operations dropped to $0.53 from $0.56 per share. Brady in May had expected earnings from continuing operations of $0.45 to $0.55 per share.
Its net sales climbed 15% to $309.1 million, versus analysts' estimates of $307 million.
Brady's gross margin narrowed to 50.8% from 54.8%.
Brady shares closed at $32.59 yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.