May 24, 2018 • 10:30 am ET



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Michael Nauman

resources, while at the same time streamlining processes and reducing the cost to process orders.

Our expectations for WPS financial performance for the full year are for organic sales to be approximately flat to slightly positive and for segment profit to continue to be in the high-single digits as a percentage of sales. As I reflect on the first three quarters of this fiscal year, I'm proud of what we've accomplished. Brady has delivered four straight quarters of organic sales growth and 11 consecutive quarters of pretax profit growth. I'm excited about the new opportunities that we're identifying every day. That is a trend and we have more work to do.

We must continue to invest in sales and R&D resources, while at the same time, ensuring that we're driving operational excellence throughout every department of Brady. It's up to us to differentiate ourselves and to drive value through innovative new product development and providing the highest level of customer service. Our focus on reducing complexity in our global structure remains unchanged and we continue to have opportunities to further simplify and streamline the way we do business.

I'm a firm believer in removing barriers so that our local managers can think, decide and act on their feet every day. It's empowering for a business leader to be given the trust and support to shape the future of their business and the impact of this culture shift is apparent in our financial results. I'm proud of our results so far this fiscal year, but we're continuing to push hard for a solid fourth quarter and a strong finish to the year.

I'm motivated and I know that the entire Brady team is motivated and excited for what the future will bring, constantly working to identify and eliminate non-value added activities that are not part of designing a product, making a product or serving our customers, we're directly in support of those efforts. With our focus on innovation and operational excellence, I know we can exceed our goals and continue to drive to deliver what we promise to our customers, our employees and our shareholders.

I would now like to start the Q&A. Operator, would you please provide instructions for our listeners.