Posted May 30, 2018

RBC Bearings sales grew by 10 percent

RBC Bearings reported net sales for fiscal 2018 of $674.9 million, a 10 percent gain on sales of $615.4 million in the previous fiscal year.

Net income of $87.1 million, or $3.58 per diluted share, compared to $70.6 million, or $2.97 per share, last year.

Net sales for the fourth quarter of fiscal 2018 were $179.9 million, an increase of 12.3 percent from $160.2 million in the fourth quarter of fiscal 2017. Net income for the quarter was $26.7 million compared to $21.6 million for the same period last year.

Net sales for the aerospace markets increased 4.6 percent and the industrial markets increased by 26.4 percent. Organically, net sales in the aerospace and industrial markets increased by 6.4 percent and 26.3 percent respectively.