Brady Corp. (BRC), a provider of identification solutions, announced a significantly narrower second-quarter net loss of $8.7 million, compared with a $90.0 million loss last year. Loss per Class A Share narrowed sharply to $0.17 in the quarter, from $1.72 loss per share in the same quarter prior year.
Non-GAAP net income amounted to $19.5 million in the second quarter of fiscal 2013. Excluding restructuring charges, non-routine items, and other, non-GAAP earnings per Class A Share were $0.38 in the latest quarter.
Sales for the fiscal 2013 second quarter were up 1.1 percent to $324.2 million, from $320.6 million a year ago. Organic sales declined 3.1 percent, the impact of foreign currency translation increased sales by 0.2 percent, and acquisitions, net of divestitures added 4.0 percent.
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