MILWAUKEE, June 5 /PRNewswire-FirstCall/ -- Brady Corporation (NYSE:
BRC), a world leader in identification solutions, today announced
preliminary guidance for its 2007 fiscal year which starts on August 1,
2006. In fiscal 2007, Brady expects sales of between $1.150 and $1.175
billion and net income of between $115 and $120 million. Diluted earnings
per Class A share are expected to be between $2.28 and $2.38 for fiscal
2007 which represents a 10 to 16 percent increase over current guidance for
fiscal 2006 diluted earnings per share. Taking into account the recently
announced common stock offering and the anticipated increase in share
count, fiscal 2007 diluted earnings per Class A share are expected to be
between $2.18 and $2.27. The company today also reaffirmed guidance for
fiscal 2006, ending July 31, 2006, of sales between $985 to $995 million
and net income of $103 to $104 million or $2.06 to $2.08 per share.
"Our fiscal 2007 guidance reflects our plans for continued growth,
including a continued increase in investment for new product development,"
said Brady President and Chief Executive Officer Frank M. Jaehnert. "This
guidance also takes into account the increase in interest expenses for the
private placement announced in February 2006, and borrowing for our recent
acquisition of Tradex Converting AB."
Brady Corporation is a leading global manufacturer and marketer of
identification solutions and specialty products that identify and protect
premises, products and people. Its products include high-performance labels
and signs, safety devices, printing systems and software, and precision
die- cut materials. Founded in 1914, Brady has more than 500,000
end-customers in electronics, telecommunications, manufacturing,
electrical, construction, education, medical and a variety of other
industries. Brady is headquartered in Milwaukee and employs about 6,600
people in operations in the United States, Europe, Asia/Pacific, Latin
America and Canada. Brady's fiscal 2005 sales were approximately $816
million. More information is available on the Internet at
http://www.bradycorp.com .
Brady believes that certain statements in this news release are
"forward- looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. All statements related to future, not past,
events included in this news release, including, without limitation,
statements regarding Brady's future financial position, business strategy,
targets, projected sales, costs, earnings, capital expenditures, debt
levels and cash flows, and plans and objectives of management for future
operations are forward-looking statements. When used in this news release,
words such as "may," "will," "expect," "intend," "estimate," "anticipate,"
"believe," "should," "project" or "plan" or similar terminology are
generally intended to identify forward-looking statements. These
forward-looking statements by their nature address matters that are, to
different degrees, uncertain and are subject to risks, assumptions and
other factors, some of which are beyond Brady's control, that could cause
actual results to differ materially from those expressed or implied by such
forward-looking statements. For Brady, uncertainties arise from the
potential upsizing or downsizing and price parameters of the proposed
public offering; unanticipated issues associated with the proposed public
offering or the terms thereof; future financial performance of major
markets Brady serves, which include, without limitation,
telecommunications, manufacturing, electrical, construction, laboratory,
education, governmental, public utility, computer, transportation;
difficulties in making and integrating acquisitions; risks associated with
newly acquired businesses; Brady's ability to retain significant contracts
and customers; future competition; Brady's ability to develop and
successfully market new products; changes in the supply of, or price for,
parts and components; increased price pressure from suppliers and
customers; interruptions to sources of supply; environmental, health and
safety compliance costs and liabilities; Brady's ability to realize cost
savings from operating initiatives; Brady's ability to attract and retain
key talent; difficulties associated with exports; risks associated with
international operations; fluctuations in currency rates versus the US
dollar; technology changes; potential write-offs of Brady's substantial
intangible assets; risks associated with obtaining governmental approvals
and maintaining regulatory compliance for new and existing products;
business interruptions due to implementing business systems; and numerous
other matters of national, regional and global scale, including those of a
political, economic, business, competitive and regulatory nature contained
from time to time in Brady's U.S. Securities and Exchange Commission
filings, including, but not limited to, those factors listed in the "Risk
Factors" section located in Item 1A of Part II of Brady's Quarterly Report
on Form 10-Q for the period ended April 30, 2006. These uncertainties may
cause Brady's actual future results to be materially different than those
expressed in its forward-looking statements. Brady does not undertake to
update its forward-looking statements.
SOURCE Brady Corporation
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