Posted May 23, 2019

RBC Bearings sales up slightly

RBC Bearings said its fiscal 2019 fourth quarter net sales of $182.2 million increased 1.3 percent for the quarter and 4.0 percent on an organic basis.

Net sales for the aerospace markets increased 5.7 percent in total and 10.2 percent on an organic basis. Industrial market sales declined 5.4 percent in total and 5.0 percent on an organic basis.

Net income of $31.4 million, or $1.27 per diluted share, compared to $26.7 million, or $1.09, in the same quarter last year.

For the full year, net sales of $702.5 million increased 4.1 percent from $674.9 million the previous year.

Net income of $105.2 million, or $4.26 per share, compared to income of $87.1 million, or $3.58, in 2018.

“Our business performed well in fiscal year 2019, delivering strong year-over-year performance in each of our key performance metrics,” said Dr. Michael J. Hartnett, chairman and chief executive officer. “Our aerospace commercial and defense markets delivered solid sales growth during the fourth quarter. Looking ahead to fiscal 2020, we are well-positioned with a healthy backlog and ability to capture further growth in many of our end markets.”