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Table of Contents

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION\n
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Washington, D.C. 20549\n
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F O R M 11 — K\n
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þ ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934
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For the fiscal year ended December 31, 2006\n\n
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OR\n\n
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o TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES\nEXCHANGE ACT OF 1934
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For the transition period from                      to                     \n\n
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Commission file number 1-14959 Brady Corporation
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A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
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EMED CO., INC. 401(k) PLAN\n
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B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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BRADY CORPORATION
\n6555 WEST GOOD HOPE ROAD
\nPO BOX 571
\nMILWAUKEE WI 53202-0571\n
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Table of Contents

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EMED Co., Inc. 401(k) Plan\n
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Financial Statements as of and for the Years Ended December 31, 2006 and 2005, Supplemental\nSchedules as of December 31, 2006, and Report of Independent Registered Public Accounting Firm\n
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EMED CO., INC. 401(k) PLAN
\nTABLE OF CONTENTS\n
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  Page
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FINANCIAL STATEMENTS:
    
 
    
  2 
 
    
  3 
 
    
  4–7 
 
    
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  9 
 
    
  10 
 
    
Consent of Deloitte Touche LLP
    
 Consent of Deloitte & Touche LLP
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NOTE: All other schedules required by Section 2520.103–10 of the\nDepartment of Labor’s Rules and Regulations for Reporting and\nDisclosure under the Employee Retirement Income Security Act of\n1974 have been omitted because they are not applicable.
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM\n
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To the Plan Administrator of the
\nEMED Co., Inc. 401(k) Plan:\n
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We have audited the accompanying statements of net assets available for benefits of EMED Co., Inc.\n401(k) Plan (the “Plan”) as of December 31, 2006 and 2005, and the related statements of changes in\nnet assets available for benefits for the years then ended. These financial statements are the\nresponsibility of the Plan’s management. Our responsibility is to express an opinion on these\nfinancial statements based on our audits.\n
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We conducted our audits in accordance with the standards of the Public Company Accounting Oversight\nBoard (United States). Those standards require that we plan and perform the audit to obtain\nreasonable assurance about whether the financial statements are free of material misstatement. The\nPlan is not required to have, nor were we engaged to perform, an audit of its internal control over\nfinancial reporting. Our audits included consideration of internal control over financial reporting\nas a basis for designing audit procedures that are appropriate in the circumstances, but not for\nthe purpose of expressing an opinion on the effectiveness of the Plan’s internal control over\nfinancial reporting. Accordingly, we express no such opinion. An audit also includes examining, on\na test basis, evidence supporting the amounts and disclosures in the financial statements,\nassessing the accounting principles used and significant estimates made by management, as well as\nevaluating the overall financial statement presentation. We believe that our audits provide a\nreasonable basis for our opinion.\n
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In our opinion, such financial statements present fairly, in all material respects, the net assets\navailable for benefits of the Plan as of December 31, 2006 and 2005, and the changes in net assets\navailable for benefits for the years then ended, in conformity with accounting principles generally\naccepted in the United States of America.\n
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Our audits were conducted for the purpose of forming an opinion on the basic financial statements\ntaken as a whole. The supplemental schedules listed in the table of contents, are presented for the\npurpose of additional analysis and are not a required part of the basic financial statements, but\nare supplementary information required by the Department of Labor’s Rules and Regulations for\nReporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules\nare the responsibility of the Plan’s management. Such schedules have been subjected to the auditing\nprocedures applied in our audit of the basic 2006 financial statements and, in our opinion, are\nfairly stated in all material respects when considered in relation to the basic 2006 financial\nstatements taken as a whole.\n
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/s/ DELOITTE & TOUCHE LLP\n
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Milwaukee, WI
\nJune 22, 2007\n
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EMED CO., INC. 401(k) PLAN\n
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STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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AS OF DECEMBER 31, 2006 AND 2005
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\n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n \n \n \n \n \n \n \n \n \n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n\n \n \n \n \n \n \n \n\n\n\n \n \n \n \n \n \n \n \n \n\n\n\n \n \n \n \n \n \n \n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n
         
  2006  2005 
ASSETS:
        
Investments:
        
Cash
 $29  $— 
Mutual funds
  4,582,833   4,005,798 
Common collective trust fund
  17,986   24,758 
Brady Corporation common stock
  —   614 
Participant loans
  96,282   110,489 
 
      
 
        
Total investments — at fair value
  4,697,130   4,141,659 
 
        
Receivables:
        
Employer contributions
  222,566   236,508 
Interest income
  9,574   — 
 
      
Total receivables
  232,140   236,508 
 
      
 
        
Total assets
  4,929,270   4,378,167 
 
        
LIABILITIES — Excess contributions payable
  2,482   — 
 
      
 
        
NET ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE
  4,926,788   4,378,167 
 
        
Adjustments from fair value to contract value for fully\nbenefit-responsive investment contracts
  114   (40)
 
      
 
        
NET ASSETS AVAILABLE FOR BENEFITS
 $4,926,902  $4,378,127 
 
      
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See notes to financial statements.\n
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EMED CO., INC. 401(k) PLAN\n
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STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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FOR THE YEARS ENDED DECEMBER 31, 2006 AND 2005
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  2006  2005 
ADDITIONS:
        
Contributions:
        
Participant
 $321,573  $371,237 
Employer
  222,566   236,508 
Rollover
  1,641   5,780 
 
      
 
        
Total contributions
  545,780   613,525 
 
      
 
        
Investment income:
        
Net appreciation in fair value of investments
  350,184   58,497 
Interest and dividends
  191,398   176,165 
 
      
 
        
Net investment income
  541,582   234,662 
 
      
 
        
Total additions
  1,087,362   848,187 
 
      
 
        
DEDUCTIONS:
        
Benefits paid to participants
  515,501   252,328 
Administrative expenses
  23,086   16,678 
 
      
 
        
Total deductions
  538,587   269,006 
 
      
 
        
INCREASE IN NET ASSETS
  548,775   579,181 
 
        
NET ASSETS AVAILABLE FOR BENEFITS:
        
Beginning of year
  4,378,127   3,798,946 
 
      
 
        
End of year
 $4,926,902  $4,378,127 
 
      
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See notes to financial statements.\n
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EMED CO., INC. 401(k) PLAN\n
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NOTES TO FINANCIAL STATEMENTS
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AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2006 AND 2005
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1. DESCRIPTION OF THE PLAN
 
  The following description of the EMED Co., Inc. 401(k) Plan (the “Plan”) is provided for\ngeneral information purposes only. Participants should refer to the Plan document for more\ncomplete information.
 
  General — The Plan is a defined contribution plan covering all full-time employees of EMED Co.,\nInc. (the “Company”) who have three months of service and are age twenty-one or older. The\nCompany controls and manages the operation and administration of the Plan. On July 8, 2005, the\nCompany replaced Expert Plan, the former recordkeeper, and Matrix Capital Bank Trust, the\nformer custodian, with PNC Bank, N.A. (“PNC”), who currently serves as the recordkeeper and\ntrustee of the Plan. The Plan is subject to the provisions of the Employee Retirement Income\nSecurity Act of 1974, as amended (“ERISA”).
 
  Contributions — Each year, participants may contribute up to 100% of their pretax annual\ncompensation, as defined in the Plan, subject to certain Internal Revenue Code (“IRC”)\nlimitations. Additional amounts may be contributed by the Company at the discretion of the\nCompany’s board of directors. Discretionary contributions of $222,566 and $236,508 were made\nfor the years ended December 31, 2006 and 2005, respectively. Participants may also contribute\namounts representing distributions from other qualified defined benefit or defined contribution\nplans.
 
  Participant Accounts — Individual accounts are maintained for each Plan participant. Each\nparticipant’s account is credited with the participant’s contribution and allocations of\nCompany discretionary contributions, participant forfeitures and Plan earnings, and charged\nwith withdrawals and an allocation of Plan losses and administrative expenses. Allocations are\nbased on participant earnings or account balances, as defined in the Plan document. The benefit\nto which a participant is entitled is the benefit that can be provided from the participant’s\nvested account.
 
  Investments — Participants direct the investment of their contributions into various investment\noptions offered by the Plan. The Plan currently offers a variety of investment options\nincluding twelve equity funds, one common collective trust fund, one bond fund, two money\nmarket funds, and Brady Corporation Class A Nonvoting Common Stock. Effective July 8, 2005, participants were\nfirst offered the option to invest in Brady Corporation Class A Nonvoting Common Stock.
 
  Vesting — Participants are vested immediately in their contributions plus actual earnings\nthereon. Vesting in the Company’s contribution portion of their accounts is based on years of\ncontinuous service. A participant is vested based on the following vesting schedule: 10% at 1\nyear, 20% at 2 years, 40% at 3 years, 60% at 4 years, 80% at 5 years, and 100% at 6 years of\nservice. The participants’ share of the Company’s contribution becomes fully vested, in any\nevent, upon normal retirement at age 65, early retirement at age 57 with 7 years of service\ncompleted, termination due to permanent or total disability or death, or termination of the\nPlan.
 
  Participant Loans — Participants may borrow from their fund accounts up to a maximum of $50,000\nor 50% of their account balance, whichever is less. The loans are secured by the balance in the\nparticipant’s account and bear interest at rates commensurate with local prevailing rates at\nthe time funds are borrowed as determined quarterly by the Plan administrator. Interest rates\nrange from 6% to 8% for outstanding loans as of December 31, 2006.
 
  Payment of Benefits — On termination of service, a participant may elect to receive a lump-sum\namount equal to the value of the participant’s vested interest in his or her account.
 
  Forfeited Accounts — At December 31, 2006 and 2005, forfeited nonvested accounts totaled\n$15,311 and $30,520, respectively. These amounts were used to reduce employer contribution receivables as of December 31, 2006 and 2005.
 
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
  Basis of Accounting — The accompanying financial statements have been prepared in accordance\nwith accounting principles generally accepted in the United States of America.
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  Adoption of New Accounting Guidance — The financial statements reflect the retroactive adoption\nof Financial Accounting Standards Board Staff Position, FSP AAG INV-1 and SOP 94-4-1, Reporting\nof Fully Benefit-Responsive Contracts Held by Certain Investment Companies Subject to the AICPA\nInvestment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the\n“FSP”). As required by the FSP, the statements of net assets available for benefits present\ninvestment contracts at fair value, as well as an additional line item showing an adjustment of\nfully benefit-responsive contracts from fair value to contract value. The statements of changes\nin net assets available for benefits are presented on a contract value basis and were not\naffected by the adoption of the FSP. The adoption of the FSP did not impact the amount of net\nassets available for benefits at December 31, 2006 and 2005.
 
  Use of Estimates — The preparation of financial statements in conformity with accounting\nprinciples generally accepted in the United States of America requires Plan management to make\nestimates and assumptions that affect the reported amounts of net assets available for benefits\nand changes therein. Actual results could differ from those estimates.
 
  Risks and Uncertainties — The Plan utilizes various investment instruments such as mutual\nfunds, common stock and a common collective trust fund. Investment securities, in general, are\nexposed to various risks, such as interest rate risk, credit risk, and overall market\nvolatility. Due to the level of risk associated with certain investment securities, it is\nreasonably possible that changes in the values of investment securities will occur in the near\nterm and that such changes could materially affect the amounts reported in the financial\nstatements.
 
  Investment Valuation and Income Recognition — The Plan’s investments are stated at fair value.\nShares of mutual funds are valued at quoted\nmarket prices, which represent the net asset value of shares held by\nthe Plan at year end. Common Stock is valued at quoted market prices. The\ncommon collective trust fund with underlying investments in investment contracts is valued at\nfair market value of the underlying investments and then adjusted by the issuer to contract\nvalue. Participant loans are valued at the outstanding loan balances.
 
  One of the investment options available in the Plan is the PNC Investment Contract Fund. The PNC Investment Contract Fund is a\ncommon collective trust that invests in fully benefit responsive guaranteed investment\ncontracts (“GICs”) and synthetic guaranteed investment contracts (“SGICs”). Participants may\nordinarily direct the withdrawal or transfer of all or a portion of their investment at\ncontract value. Contract value represents contributions made to the fund, plus earnings, less\nparticipant withdrawals.
 
  Purchases and sales of securities are recorded on a trade-date basis. Interest income is\nrecorded on the accrual basis. Dividends are recorded on the ex-dividend date.
 
  Management fees and operating expenses charged to the Plan for investments in the mutual funds\nare deducted from income earned on a daily basis and are not separately reflected.\nConsequently, management fees and operating expenses are reflected as a reduction of net\nappreciation in the fair value for such investments.
 
  Administrative Expenses — Administrative expenses of the Plan are paid by the Plan as provided\nin the Plan Document.
 
  Payment of Benefits — Benefit payments to participants are recorded upon distribution. There\nwere no amounts allocated to accounts of persons who have elected to withdraw from the Plan but\nhave not yet been paid as of December 31, 2006 and 2005.
 
  Excess Contributions Payable — The Plan is required to return contributions received during the\nPlan year in excess of the IRC limits. There were excess\ncontributions for the year ended December 31, 2006, in the amount of $2,482.
 
3. INVESTMENTS
 
  The Plan’s investments that represented 5% or more of the Plan’s net assets available for\nbenefits as of December 31, 2006 and 2005, are as follows:
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  2006 2005
LSV Value Equity Fund
 $967,173  $— 
Fidelity Advisors Equity Growth Fund
  953,792   928,214 
Fidelity Advisors Intermediate Bond Fund
  718,957   695,113 
Fidelity Diversified International Fund
  607,886   475,008 
Blackrock Small Cap Growth Equity Portfolio*
  486,429   405,184 
American Century Small Cap Value Fund
  369,426   320,324 
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* Party-in-interest.
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  During the year ended December 31, 2006 and 2005, the Plan’s investments (including\ngains and losses on investments bought and sold, as well as held during the year) appreciated\n(depreciated) in value as follows:
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\n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n
         
  2006  2005 
Equity fund
 $351,358  $68,948 
Bond fund
  (1,452)  (12,575)
Money market fund
  —   1,665 
Common collective trust fund
  264   384 
Brady Corporation common stock
  14   75 
 
      
 
        
Net appreciation in fair value of investments
 $350,184  $58,497 
 
      
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4. PLAN TERMINATION
 
  Although it has not expressed any intention to do so, the Company has the right under the Plan\nto discontinue its contributions at any time and to terminate the Plan subject to the\nprovisions set forth in ERISA. In the event that the Plan is terminated, participants would\nbecome 100% vested in their accounts.
 
5. FEDERAL INCOME TAX STATUS
 
  The Plan uses a prototype plan document sponsored by PNC. PNC received an opinion letter from\nthe Internal Revenue Service (“IRS”), dated November 19, 2001, which states that the prototype\ndocument satisfies the applicable provisions of the IRC. The Plan itself has not received a\ndetermination letter from the IRS. However, the Plan’s management believes that the Plan is\ncurrently designed and being operated in compliance with the applicable requirements of the\nIRC. Therefore, no provision for income tax has been included in the Plan’s financial\nstatements.
 
6. EXEMPT PARTY-IN-INTEREST TRANSACTIONS
 
  The Plan invests in Company common stock. Certain plan investments represent shares of mutual\nfunds and common collective trust funds managed by the trustee. These transactions are\nconsidered party-in-interest transactions. These transactions are not, however, considered\nprohibited transactions under ERISA regulations. At December\n31, 2005, the Plan held 17 shares of common stock of Brady Corporation, the parent of the sponsoring employer, with a cost basis of\n$540. The Plan held no shares of Brady Corporation stock at December 31, 2006. During the years\nended December 31, 2006 and 2005, the Plan recorded dividend income of $2 in each of the\nrespective years.
 
7. RECONCILIATION TO FORM 5500
 
  For 2006, net assets available for benefits in the accompanying financial statements are\nreported at contract value, however, they are recorded at fair value in the Plan’s Form 5500.\nThe following table reconciles net assets available for benefits per the financial statements\nto the Plan’s Form 5500 to be filed by the Company:
\n
\n
\n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n
         
     2006 
Net assets available for benefits per financial statements
     $4,926,902 
Adjustments:
        
Contract value to fair value for fully benefit-responsive\ninvestment contracts
      (114)
 
      
Amounts reported per Form 5500
     $4,926,788 
 
      
\n
\n\n\n
\n\n\n\n \n \n \n\n\n
  The following table reconciles the increase in net assets available for benefits per the\nfinancial statements to the Form 5500 to be filed by the Company for 2006:
\n
\n
\n\n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n\n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n
     
  2006 
Amounts reported per financial statements
 $548,775 
Adjustments:
    
Changes in adjustment from contract value to fair value for\nfully benefit-responsive investment contracts
 $(114)
 
   
Amounts reported per Form 5500
 $548,661 
 
   
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8. SUBSEQUENT EVENTS
 
  Effective April 1, 2007, the Plan was amended to allow participants to irrevocably designate\nall or any part of their elective deferrals to the Plan as Roth 401(k) deferrals, provided the\neligibility requirements have been met. The Roth 401(k) deferrals are contributed to the Plan\nafter-tax and treated as includible in the computation of the participant’s personal income. As\nthe amounts are contributed after-tax, the deferrals and, in most cases, earnings on the\ndeferrals will not be subject to Federal income taxes when distributed to the participants, as\nlong as the distributions are considered to be qualified. The combined total of pre-tax\ndeferrals and Roth 401(k) deferrals may not exceed the maximum dollar limitation allowable\nunder the law.
 
  As reported in the supplemental schedule, Form 5500, Schedule H, Part IV, Question 4a, the\nCompany remitted participant contributions totaling $71,579 to the trustee later than required\nby Department of Labor (“D.O.L.”) Regulation 2510.3-102. The Company will file Form 5330 with\nthe Internal Revenue Service and will pay the required excise tax on the transactions. In\naddition, participant accounts were credited with the amount of investment income that would\nhave been earned had the participant contributions been remitted on a timely basis.
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SUPPLEMENTAL SCHEDULES
\nFURNISHED PURSUANT TO THE
\nDEPARTMENT OF LABOR’S RULES AND REGULATIONS\n
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EMED CO., INC. 401(k) PLAN\n
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FORM 5500, SCHEDULE H, PART IV, LINE 4i—
\n\n\n\n
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
\n\n\n\n
AS OF DECEMBER 31, 2006
\n\n\n
\n\n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n\n\n\n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n\n\n
     
  Fair 
Description Value 
EQUITY FUNDS:
    
LSV Value Equity Fund
 $967,173 
Fidelity Advisors Equity Growth Fund
  953,792 
Fidelity Diversified International Fund
  607,886 
Blackrock Small Cap Growth Equity Portfolio*
  486,429 
American Century Small Cap Value Fund
  369,426 
MFS Emerging Markets Equity Fund
  143,506 
Vanguard Institutional Index Fund
  124,898 
T Rowe Price Retirement 2040
  40,122 
T Rowe Price Retirement 2030
  21,901 
PIMCO Commodity Real Return
  18,254 
T Rowe Price Retirement 2010
  9,304 
T Rowe Price Retirement 2020
  6,989 
 
   
 
    
 
  3,749,680 
 
   
 
    
COMMON COLLECTIVE TRUST FUND —
    
PNC Investment Contract Fund*
  17,986 
 
   
 
    
BOND FUND —
    
Fidelity Advisors Intermediate Bond Fund
  718,957 
 
   
 
    
MONEY MARKET FUNDS:
    
Blackrock Money Market Portfolio*
  113,979 
Brady Stock Liquidity Fund*
  217 
 
   
 
 
  114,196 
 
   
 
    
CASH
  29 
 
   
 
    
PARTICIPANT LOANS — (maturing through 2035, at interest rates of 6% to 8%)*
  96,282 
 
   
 
    
TOTAL ASSETS (HELD AT END OF YEAR)
 $4,697,130 
 
   
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* Party-in-interest.
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EMED CO., INC. 401(k) PLAN\n
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FORM 5500, SCHEDULE H, PART IV, QUESTION 4a—
\n\n\n\n
DELINQUENT PARTICIPANT CONTRIBUTIONS
\n\n\n\n
FOR THE YEAR ENDED DECEMBER 31, 2006
\n\n\n
\n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n\n\n\n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n\n\n \n \n \n \n \n\n\n \n \n \n \n \n \n \n \n \n \n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\n \n \n \n \n \n \n \n \n \n \n\n\n\n\n
         
  Relationship to Plan,    
Identity of Party Employer, or Other Description of  
Involved Party-in-Interest Transactions Amount
EMED Co., Inc.\n
 Employer/Plan Sponsor\n Participant\ncontributions for\nemployees were not\nfunded within the\ntime period\ndescribed by D.O.L.\nRegulation\n2510.3-102. The\nSeptember 22, 2006\nparticipant\ncontribution was\ndeposited on\nOctober 6, 2006.\n $23,866 
 
        
EMED Co., Inc.\n
 Employer/Plan Sponsor\n Participant\ncontributions for\nemployees were not\nfunded within the\ntime period\ndescribed by D.O.L.\nRegulation\n2510.3-102. The\nSeptember 29, 2006\nparticipant\ncontribution was\ndeposited on\nOctober 6, 2006.\n $6,758 
 
        
EMED Co., Inc.\n
 Employer/Plan Sponsor\n Participant\ncontributions for\nemployees were not\nfunded within the\ntime period\ndescribed by D.O.L.\nRegulation\n2510.3-102. The\nOctober 13, 2006\nparticipant\ncontribution was\ndeposited on\nOctober 20, 2006.\n $11,907 
 
        
EMED Co., Inc.\n
 Employer/Plan Sponsor\n Participant\ncontributions for\nemployees were not\nfunded within the\ntime period\ndescribed by D.O.L.\nRegulation\n2510.3-102. The\nOctober 27, 2006\nparticipant\ncontribution was\ndeposited on\nNovember 7, 2006.\n $13,460 
 
        
EMED Co., Inc.\n
 Employer/Plan Sponsor\n Participant\ncontributions for\nemployees were not\nfunded within the\ntime period\ndescribed by D.O.L.\nRegulation\n2510.3-102. The\nNovember 24, 2006\nparticipant\ncontribution was\ndeposited on\nDecember 14, 2006.\n $13,851 
 
        
EMED Co., Inc.\n
 Employer/Plan Sponsor\n Participant\ncontributions for\nemployees were not\nfunded within the\ntime period\ndescribed by D.O.L.\nRegulation\n2510.3-102. The\nNovember 10, 2006\nparticipant\ncontribution was\ndeposited on June\n18, 2007.\n $1,737 
 
    
 
         
 
   Total\n $71,579 
 
         
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EXHIBIT INDEX\n
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Exhibit No. Description
23\n
 Consent of Deloitte & Touche LLP
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SIGNATURES\n
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     The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees\n(or other persons who administer the employee benefit plan) have duly caused this annual report to\nbe signed on its behalf by the undersigned hereunto duly authorized.\n
\n\n\n\n \n \n \n \n \n\n\n \n \n \n\n \n \n \n\n \n \n \n\n \n \n \n\n\n
     
 EMED CO., INC. 401(k) PLAN
\n 		 
Date: June 29, 2007 \n/s/ GARY VOSE\n  
 Gary Vose  
 Plan Administrative Committee Member  
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EXHIBIT 23\n
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CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM\n
\n\n
We consent to the incorporation by reference in Registration Statement No. 333-137686 on Form S-8\nof our report dated June 22, 2007, appearing in this Annual Report on Form 11-K of EMED Co., Inc.\n401(k) Plan for the years ended December 31, 2006.\n
\n\n
/s/ DELOITTE & TOUCHE LLP\n
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Milwaukee, Wisconsin
\nJune 28, 2007\n
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