Regal Beloit sales fall 2.8 percent
Regal Beloit Corporation reported net sales of $853.8 million in the first quarter decreased 2.8 percent from $878.8 million the prior year.
The results included a negative 1.7 percent impact from foreign currency, a negative 4.0 percent impact from the businesses the company plans to divest, and a positive 3.9 percent impact from acquisitions. The result was a negative organic sales growth rate of 1.0 percent.
Net income of $85.9 million, or $1.99 per share, compared to $58.4 million, or $1.31, in the same period last year.
Commercial and Industrial Systems Segment net sales were $380.3 million, a decrease of 8.1 percent.
Climate Solutions Segment net sales were $263.3 million, an increase of 1.3 percent.
Power Transmission Solutions Segment net sales were $210.2 million, an increase of 2.6 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.
