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W. H. BRADY REPORTS INCREASED SALES AND EARNINGS

 MILWAUKEE, Nov. 9 /PRNewswire/ -- W. H. Brady Co. (NASDAQ-NMS: BRCOA) reported increased sales and earnings for the first quarter period ending Oct. 31, 1993. Sales and earnings for the period were the company's highest for a first quarter's period.
 Net sales for the period ending Oct. 31, 1993 were $59,635,000 compared to $57,690,000 for the previous year's first quarter, a 3.4 percent increase. The increase, which occurred across each of the company's operating groups, would have been approximately 5 percent higher were it not for the effect of a strong U.S. dollar, which reduced the increase in foreign sales.
 Net income for the period ending Oct. 31, 1993 was $4,178,000 or $0.59 per share. This was a 25.1 percent increase over the $3,340,000, or $0.48 per share, reported for the prior year's first quarter. Each of the company's operating groups reported profit increases. The foreign exchange effect of a strong U.S. dollar negatively impacted the net income increase by about 6 percent over the previous year's period.
 Paul G. Gengler, president and chief executive officer, said, "The effect of the divestitures, productivity improvements, and cost reductions which we have been making over the past several years is now beginning to be reflected in the company's financial results. Comparable sales for the first quarter increased at a rate of about 18 percent, when we adjust for the effect of foreign exchange and the three previously reported divested units. Our net income increased by more than 25 percent on an adjusted basis for divested operations and foreign exchange. This is strong growth in the face of weak world markets. Successful new products have been significant contributors to our sales and earnings. Our international operations have improved despite weak European economies. I believe the results we are beginning to see will continue and grow as the economies improve in each of the world's markets we serve."
 W. H. Brady Co. is an international coated films and industrial identification products company. It manufactures and markets thousands of products, from labels, signs and medical dressings to portable electronic printers. Founded in 1914, the company serves transportation, aerospace, audio/video, electronics, electrical, computer and medical markets. Its worldwide headquarters are at 727 W. Glendale Ave., Milwaukee.
 W. H. BRADY CO. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENT OF EARNINGS
 (dollars in thousands except per share amounts)
 (UNAUDITED)
 Three Months Ended Oct. 31,
 1993 1992
 Net Sales $59,635 $57,690
 Operating Expenses
 Cost of Products Sold 28,251 28,097
 Research and Development 2,707 2,872
 Selling, General and Administrative 21,740 21,527
 Total Operating Expenses 52,698 52,496
 Operating Income 6,937 5,194
 Investment and Other Income-Net 309 311
 Interest Expense (47) (214)
 Income Before Income Taxes 7,199 5,291
 Income Taxes 3,021 1,951
 Net Income $ 4,178 $ 3,340
 Net Income Per Common Share $0.59 $0.48
 -0- 11/9/93
 /CONTACT: Paul G. Gengler or Donald P. DeLuca, of W. H. Brady Co., 414-332-8100/
 (BRCOA)


CO: W.H. Brady Co. ST: Wisconsin IN: SU: ERN

BM-AR -- CL016 -- 3669 11/09/93 11:58 EST
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Publication:PR Newswire
Date:Nov 9, 1993
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