RBC Bearings posts 3.6 percent sales gain for 2020
RBC Bearings reported 2020 sales of $725.5 million, a 3.6 percent increase from $702.5 million in 2019.
Net income of $126 million, or $5.06 per diluted share, compared to income of $105 million, or $4.32 per share, in the prior year.
Net sales for the fourth quarter of fiscal 2020 were $185.8 million, an increase of 2 percent from $182.2 million in the fourth quarter of fiscal 2019, and organic net sales increased 0.6 percent year over year. Net sales for the aerospace markets increased 4.3 percent while industrial market net sales declined 1.9 percent, 5.6 percent on an organic basis.
Net income for the fourth quarter owas $33.8 million compared to $31.4 million for the same period last year. Diluted EPS for the fourth quarter was $1.35 per share compared to $1.27 per share for the same period last year.
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.
