RBC Bearings earnings up
RBC Bearings said its net sales for the second quarter of fiscal 2013 were $100.4 million, an increase of 2.7% compared to the same period last year.
The increase was mainly the result of a 13.8% increase in aerospace and defense driven by commercial aircraft build rates and the aerospace aftermarket offset by a 6.9% decline in industrial sales driven by slowing activity in mining, oil, and gas and general industrial markets.
Net income increased 42.3% to $16.5 million compared to $11.6 million for the same period last year.
“We are pleased with the strong execution shown in our second quarter,” said Dr. Michael J. Hartnett, chairman and chief executive officer. “Sales volume of aircraft products continue to expand as expected and industrial product volumes, although not as strong as last year, continued to do well in this environment.”
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
