Regal Beloit fourth-quarter sales decline
Regal Beloit Corporation reported fourth-quarter net sales of $738.2 million decreased 16.3 percent from $881.7 million in the same period last year.
The results included a negative 0.5 percent impact from foreign currency and a negative 6.5 percent impact from businesses divested/to be exited. The result was a negative organic sales growth rate of 9.3 percent.
Net income of $36.7 million, or 89 cents per diluted share, compared to $55.6 million, or $1.28 in the previous year's fourth quarter.
For the full year, net income of $238.9 million on sales of $3.2 billion compared to income of $231.2 million on sales of $3.6 billion in 2018. Earnings per diluted share of $5.66 in 2019 compared to $5.26 the previous year.
In the fourth quarter, Commercial Systems segment net sales were $202.0 million, a decrease of 26.1 percent. Industrial Systems segment net sales were $138.0 million, a decrease of 15.6 percent. Climate Solutions segment net sales were $206.4 million, a decrease of 11.1 percent. Power Transmission Solutions segment net sales were $191.8 million, a decrease of 9.9 percent.
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.
