Posted August 8, 2017

RBC Bearings sales up 6 percent

RBC Bearings posted net sales for the first quarter of fiscal 2018 of $163.9 million, an increase of 6 percent compared to $154.6 million in the first quarter of fiscal 2017.

Industrial sales increased 12.1 percent, mainly driven by marine, energy, mining, semi-conductor and general industrial activity. Aerospace sales increased 2.8 percent, mainly driven by commercial aircraft and defense.

Net income was $21.8 million, or 90 cents per share, compared to $18.0 million, or 76 cents, for the same period last year.