Posted February 5, 2019

RBC Bearings sales up 2.8 percent

RBC Bearings reported net sales for the third quarter of fiscal 2019 were $171.5 million, an increase of 2.8 percent from $166.9 million in the third quarter of fiscal 2018.

Excluding the RBC Canada operation, which was restructured in the second quarter of fiscal 2018, and the Miami division, which was sold in November 2018, organic net sales increased 6.5 percent year-over-year. Net sales for the aerospace markets increased 0.7 percent in total and 6.4 percent on an organic basis. Industrial market sales grew 6.2 percent in total and 6.7 percent on an organic basis. 

Net income for the quarter was $16.2 million, or 65 cents per share, compared to $23.8 million, or 97 cents, for the same period last year.