RBC Bearings sales up 17%
RBC Bearings reported net sales for the third quarter of fiscal 2012 of $95.1 million, an increase of 17.0% from the third quarter of fiscal 2011.
The increase was driven by an 18.0% gain in industrial business and by a 16.1% increase in net sales in aerospace and defense business.
Net income of $12.2 million, or 54 cents per share, compared to $7.4 million, or 33 cents per share, in the same period last year.
“We are pleased with the strong results we reported in our third quarter,” said Dr. Michael J. Hartnett, chairman and chief executive officer. “Strong demand continues across our industrial end markets, specifically mining, oil and gas, and general industrial distribution. We are also seeing an acceleration of production in the aerospace market, and we are reviewing our order book and making the necessary adjustments operationally to ensure that we can continue capitalizing on these opportunities throughout the year.”
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
