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(Global Markets) - Identification products maker Brady Corp (BRC.N) posted first-quarter earnings that beat market estimates, helped by higher organic sales in the United States and Europe, and backed its fiscal 2012 outlook despite short-term impact from the flooding in Thailand.
It continues to see full-year earnings at $2.30-$2.50 per share. Analysts on average were expecting earnings of $2.36 a share, according to Thomson Global Markets I/B/E/S.
The company, founded as W.H. Brady Co in 1914 and renamed Brady Corp in 1998, makes printable labels, photo ID cards, laboratory labels and exit signs.
August-October net income rose to $32.7 million, or 62 cents a share, up from $26.3 million, or 50 cents a share, a year ago.
Excluding after-tax restructuring charges of $2.6 million, the company earned 67 cents.
Sales at the Milwaukee, Wisconsin-based company rose about 6 percent to $349.5 million.
Analysts had expected the company to earn 59 cents a share, before special items on revenue of $338.2 million.
Shares of the company closed at $28.74 on Thursday on the New York Stock Exchange.
(Reporting by Kartick Jagtap in Bangalore; Editing by Don Sebastian)
