RBC Bearings income rises 57%
RBC Bearings said that its net sales for the fourth quarter of fiscal 2012 were $111.3 million, an increase of 25.2% from $88.9 million in the fourth quarter of fiscal 2011.
The increase was driven by an increase industrial business and by a gain in aerospace and defense business. Net income for the fourth quarter was $15.5 million compared to $9.9 million for the same period last year, a gain of 57.4%.
“Our fourth quarter results demonstrated our continued strong execution and the improving fundamentals of our end markets. Strong demand in the industrial end markets, particularly mining, energy, and general distribution, continues, and our major aerospace customers are increasing build rates that incorporate numerous new products,” said Dr. Michael J. Hartnett, chairman and chief executive officer.
Sales for the full year increased 18.4% to $397.5 million, an increase of 18.4%, and net income rose by 43% to $50 million for the 12-month period.
RBC Bearings is a manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
