LOUISVILLE, Ky.--(BUSINESS WIRE)--Brown-Forman Corporation (NYSE:BFA) (NYSE:BFB) reported financial results for its first quarter ended July 31, 2015. The company’s reported net sales1 declined 2% to $900 million, but increased 7% on an underlying basis2. Reported net sales growth was negatively impacted by nine percentage points due to foreign exchange. Reported operating income increased 3% to $227 million, an increase of 9% on an underlying basis. Diluted earnings per share increased 7% to $