RBC Bearings sales jump 43.1 percent
RBC Bearings reported net sales for the fourth quarter of fiscal 2016 were $162.3 million, an increase of 43.1% from $113.4 million in the fourth quarter of fiscal 2015.
Net sales for the aerospace markets increased 70.0% and the industrial markets increased 9.4%.
Net income for the quarter was $18.9 million compared to $14.9 million for the same period last year.
Diluted EPS for the fourth quarter of fiscal 2016 was 81 cents per share compared to 64 cents per share for the same period last year.
“Our fiscal fourth quarter provided a strong finish to a remarkable year for RBC Bearings,” said Dr. Michael J. Hartnett, chairman and chief executive officer. “Our results demonstrated solid execution and continued strong operating performance. It’s been eleven months since we closed the Sargent acquisition and we’re very pleased with the earnings accretion, strong cash flows, highly technical product offering, and very talented and dedicated team running these businesses.”