RBC Bearings sales up 10 percent
Increased volume in mining, oil and gas, and the general industrial markets drove a 10% increase in sales in the first quarter of fiscal 2015 for RBC Bearings.
The increase in net sales was mainly the result of a 19.3% increase in industrial sales and a 3.8% increase in aerospace and defense.
Net income for the quarter increased 6% to $16.0 million, or 69 cents per share, compared to $15.1 million, or 65 cents, for the same period last year.
“Our first quarter performance reflected strong sales growth from our industrial products as we continued to see healthy demand levels across many of our end markets.” said Dr. Michael J. Hartnett, chairman and chief executive officer. “We are also pleased to see strength in our aerospace and defense segment supported by increasing commercial aircraft build rates. Overall, we are off to a good start to our fiscal year and are confident in our ability to further execute as evidenced by our solid backlog levels and earnings growth.”
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.
