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UNITED STATES
\nSECURITIES AND EXCHANGE COMMISSION\n
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Washington, D.C. 20549\n
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FORM 8-K\n
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CURRENT REPORT\n
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\n
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Date of Report (Date of earliest event reported): March 12, 2008\n
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BRADY CORPORATION\n
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(Exact name of registrant as specified in its charter)
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Commission File Number 1-14959\n
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\n\n\n\n | Wisconsin\n | \n | \n 39-0971239 | \n
\n\n | (State of Incorporation)\n | \n | \n (IRS Employer Identification No.) | \n
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6555 West Good Hope Road
\nMilwaukee, Wisconsin 53223
\n(Address of Principal Executive Offices and Zip Code)\n
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(414) 358-6600
\n(Registrant’s Telephone Number)\n
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy\nthe filing obligation of the registrant under any of the following provisions:\n
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\n\n | o | \n | \n Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | \n
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\n\n | o | \n | \n Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | \n
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\n\n | o | \n | \n Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR\n240.14d-2(b)) | \n
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\n\n | o | \n | \n Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR\n240.13e-4(c)) | \n
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Item 8.01 OTHER EVENTS.\n
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On March 12, 2008, Brady Corporation issued a press release announcing that its Board of Directors\nauthorized a share buyback program for up to one million additional shares of the Company’s non-voting Class A\nCommon Stock, which supplements the Company's share buyback program\nannounced in September 2007. As of February 29, 2008, the Company had\n50,784,181 Class A Common Shares outstanding. The repurchased shares will be available for use in connection\nwith the Company’s stock-based plans and for other corporate purposes. A copy of the press release\nis being furnished to the Securities and Exchange Commission as Exhibit 99 attached herewith and\nincorporated by reference.\n
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Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
\n(c) Exhibits.\n
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The following is furnished as an Exhibit to this Report.\n
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\n\n\n\n Exhibit No.\n | \n | \n Description of Exhibit | \n
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\n\n 99\n | \n | \n Press Release of Brady Corporation, dated March 12, 2008. | \n
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SIGNATURE\n
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused\nthis report to be signed on its behalf by the undersigned hereunto duly authorized.\n
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\n\n | | \n BRADY CORPORATION
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\n | Date: March 17, 2008 | \n /s/ Thomas Felmer\n | \n | \n
\n | | \n Thomas Felmer | \n | \n
\n | | \n Senior Vice President &\nChief Financial Officer | \n | \n
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EXHIBIT 99\n
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For More Information:
\nInvestor contact: Barbara Bolens 414-438-6940
\nMedia contact: Carole Herbstreit 414-438-6882\n\n
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Brady Corporation announces additional share buyback program\n
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MILWAUKEE (March 12, 2008)—Brady Corporation (NYSE: BRC) today announced that its Board of\nDirectors has authorized a share buyback program for up to 1 million additional shares of the\nCompany’s common stock. The share repurchase plan may be implemented from time to time on the open\nmarket or in privately negotiated transactions, with repurchased shares available for use in\nconnection with the Company’s stock-based plans and for other corporate purposes.\n
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“We have nearly completed the repurchase of 1 million shares authorized by our Board in\nSeptember 2007. While primary use of our free cash flow continues to be to fund our acquisition\nprogram, the current softness in the equity markets offers us an opportunity to extend our modest\nstock repurchase and reduce the dilutive effect of our equity-based incentive programs,” said Brady\nPresident and CEO Frank M. Jaehnert.\n
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Brady Corporation is an international manufacturer and marketer of complete solutions that\nidentify and protect premises, products and people. Its products help customers increase safety,\nsecurity, productivity and performance and include high-performance labels and signs, safety\ndevices, printing systems and software, and precision die-cut materials. Founded in 1914, the\ncompany has more than 500,000 customers in electronics, telecommunications, manufacturing,\nelectrical, construction, education, medical and a variety of other industries. Brady is\nheadquartered in Milwaukee and employs more than 8,600 people at operations in the Americas, Europe\nand Asia/Pacific. Brady’s fiscal 2007 sales were approximately $1.363 billion.\n
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More information is available on the Internet at www.bradycorp.com.\n
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Brady believes that certain statements in this news release are “forward-looking statements” within\nthe meaning of the Private Securities Litigation Reform Act of 1995. All statements related to\nfuture, not past, events included in this news release, including, without limitation, statements\nregarding Brady’s future financial position, business strategy, targets, projected sales, costs,\nearnings, capital expenditures, debt levels and cash flows, and plans and objectives of management\nfor future operations are forward-looking statements. When used in this news release, words such as\n“may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or\n“plan” or similar terminology are generally intended to identify forward-looking statements. These\nforward-looking statements by their nature address matters that are, to different degrees,\nuncertain and are subject to risks, assumptions and other factors, some of which are beyond Brady’s\ncontrol, that could cause actual results to differ materially from those expressed or implied by\nsuch forward-looking statements. For Brady, uncertainties arise from future financial performance\nof major markets Brady serves, which include, without limitation, telecommunications,\nmanufacturing, electrical, construction, laboratory, education, governmental, public utility,\ncomputer, transportation; difficulties in making and integrating acquisitions; risks associated\nwith newly acquired businesses; Brady’s ability to retain significant contracts and customers;\nfuture 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\ncustomers; interruptions to sources of supply; environmental, health and safety compliance costs\nand liabilities; Brady’s ability to realize cost savings from operating initiatives; Brady’s\nability to attract and retain key talent; difficulties associated with exports; risks associated\nwith international operations; fluctuations in currency rates versus the US dollar; technology\nchanges; potential write-offs of Brady’s substantial intangible assets; risks associated with\nobtaining governmental approvals and maintaining regulatory compliance for new and existing\nproducts; business interruptions due to implementing business systems; and numerous other matters\nof national, regional and global scale, including those of a political, economic, business,\ncompetitive and regulatory nature contained from time to time in Brady’s U.S. Securities and\nExchange Commission filings, including, but not limited to, those factors listed in the “Risk\nFactors” section located in Item 1A of Part II of Brady’s Annual Report on Form 10-K for the period\nended July 31, 2007. These uncertainties may cause Brady’s actual future results to be materially\ndifferent than those expressed in its forward-looking statements. Brady does not undertake to\nupdate its forward-looking statements.\n
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