Brady Corp. (BRC) posted third quarter profit of $27.65 million, down from $28.6 million last year. Earnings per Class A share were $0.52, down from $0.54 in the same quarter last year.
Excluding after-tax restructuring charges, earnings per Class A Share increased 3.6 percent to $0.57 from $0.55 in the prior-year quarter.
On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share. Analysts' estimates typically exclude special items.
Net sales were down to $331.63 million from $337.9 million in the prior-year quarter. Analysts expected revenues of $342.09 million.
Organic sales were down 0.5 percent, acquisitions added 0.2 percent, and the impact of foreign currency translation decreased sales by 1.6 percent.
The company said it is modifying its fiscal 2012 guidance range for earnings per Class A Common Share, exclusive of after-tax restructuring charges and the Asia goodwill impairment to between $2.15 and $2.25, down from its previous guidance range of $2.20 to $2.40 per Class A Common Share. Analysts expect earnings of $2.28 per share for the year.
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