RBC Bearings sales and earnings rise
RBC Bearings reported net sales for the fourth quarter of fiscal 2014 were $113.7 million, an increase of 10.4% from the fourth quarter of fiscal 2013.
Aerospace and defense markets increased 12.9%, driven by commercial aircraft build rates and the inclusion of two acquisitions, WPA and TCI. Industrial sales increased 7.3%, driven by energy, construction, and general industrial activity and the favorable impact of one acquisition, CMP.
Net income for the quarter was $18.2 million, or 78 cents per share, compared to $10.6 million, or 46 cents, for the same period last year.
Sales for the full year were $418.9 million, a 3.9 percent improvement from $403.1 million for fiscal 2013.
“Our fourth quarter and fiscal 2014 earnings marked all-time highs across several key metrics including net sales, gross margin, and net income,” said Dr. Michael J. Hartnett, chairman and chief executive officer.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
