RBC Bearings sales soar 123.9 percent
RBC Bearings reported fourth quarter fiscal 2022 net sales of $358.9 million increased 123.9 percent from $160.3 million last year.
Net sales for the Industrial segment increased 297.3 percent, including sales of approximately $181.9 million from the Dodge acquisition, while the Aerospace/Defense segment increased 8.9 percent.
Net income for the quarter was $32.2 million, or 92 cents per diluted share, compared to $25.0 million, or 99 cents, for the same period last year.
Full-year sales of $942.9 million increased increased 54.8 percent from $609 million in fiscal 2021. Net income of $65.1 million, or $1.95 per diluted share, compared to $89.6 million, or $3.58, the previous year.
“The record performance of our company in the fourth quarter demonstrated the value created by the merger of Dodge Industrial with RBC Bearings. We are very encouraged with the speed of integration and management cohesion achieved by these two extraordinary and complementary businesses,” said Dr. Michael J. Hartnett, chairman and chief executive officer.
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.
