RBC Bearings Sales Up 6.3% in Fiscal 2015

Resource from: RBC Bearings Inc. Likes:213

May 28,2015

Bearings manufacturer RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, reported sales for fiscal 2015 of $445.3 million, up 6.3 percent year-over-year. Profit decreased 3.3 percent to $58.2 million. For the fourth quarter, sales were $113.4 million, a decrease of 0.3 percent from the previous year. Profit for the quarter decreased 18 percent to $14.9 million. The fourth-quarter decrease was attributed to a 0.1 percent increase in industrial sales offset by a decline of 0.5 percent in aerospace and defense sales. “Our fourth quarter of fiscal 2015 capped a great year in which we achieved record-level sales, operating income, and net income,” said CEO Michael J. Hartnett. "These results were driven by strong performance in our industrial markets and our continued focus on execution. We are also pleased to have recently announced the closing of our acquisition of the Sargent Aerospace & Defense business of Dover Corporation."

(RBC Bearings Inc.)

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