RBC Bearings sales increased 3.5 percent
RBC Bearings reported net sales for the second quarter of fiscal 2017 were $153.9 million, an increase of 3.5% from $148.7 million in the second quarter of fiscal 2016.
Net sales for the aerospace markets increased 3.2% and the industrial markets increased 4.2%.
Net income for the quarter was $18.2 million, or 77 cents per share, compared to $14.5 million, or 62 cents, for the same period last year.
“We are pleased with the operating performance during the second quarter as well as the outlook for the year,” said Dr. Michael J. Hartnett, chairman and chief executive officer. “We are seeing solid customer acceptance of our aerospace and defense products which is leading to a number of large opportunities for the business and provides an excellent path for OEM aerospace growth in future years. We were also able to achieve industrial sales growth during the quarter as our stronger demand markets continued to offset areas of weakness in some of the various segments we serve.”