RBC Bearings 4Q sales declined 13.7 percent
RBC Bearings reported net sales for the fourth quarter of fiscal 2021 were $160.3 million, a decrease of 13.7 percent from $185.8 million in the fourth quarter of fiscal 2020.
Net sales for the aerospace markets decreased 28.6 percent while industrial market net sales increased 12.9 percent.
Net income of $25.0 million, or 99 cents per share, compared to $33.8 million, or $1.35, for the same period last year.
“I am pleased with our team’s performance during a fiscal year challenged by the global pandemic. Sequential sales improvements, combined with outstanding expense control and execution drove our highest level of cash flow in the fourth quarter," said Dr. Michael J. Hartnett, chairman and CEO. "We are encouraged by the expansion of demand for our industrial products and opportunities within our robust platforms in aerospace. We enter fiscal 2022 with a healthy backlog and we remain well-positioned to continue executing at a high level as we benefit from a prolonged recovery.”
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.
