Posted May 31, 2017

RBC Bearings sales fall 1.3 percent

RBC Bearings reported net sales for the fourth quarter of fiscal 2017 were $160.2 million, a decrease of 1.3% from $162.3 million in the fourth quarter of fiscal 2016.

Net sales for the aerospace markets decreased 3.2% and the industrial markets increased 2.6%. 

Net income was $21.6 million, or 90 cents per share, compared to $18.9 million, or 81 cents, for the same period last year. 

“During the fourth quarter the business continued to perform well, delivering margin and earnings growth while generating meaningful cash flow,” said Dr. Michael J. Hartnett, chairman and chief executive officer. “The ongoing integration of Sargent into our portfolio is allowing us to return to stronger margin levels typical of the RBC Bearings model. We continue to allocate our growing cash flow toward reducing our debt while also repurchasing stock and investing in the business. Looking ahead, we are well-positioned to capture growing demand in our primary markets.”