RBC Bearings sees 5.7% sales gain
RBC Bearings said its third quarter sales increased 5.7 percent to $106.3 million, compared to $100.5 million in the third quarter of fiscal 2014.
The increase was mainly the result of a 13.9 percent increase in industrial sales driven by construction, oil and gas, and the general industrial markets. Aerospace and defense decreased 0.3 percent mainly due to a decrease in defense and distribution.
Net income for the quarter was $14.1 million compared to $12.8 million for the same period last year.
“Our third quarter results showed solid year-over-year improvements in net sales, gross margin and earnings, while reflecting the typical third quarter seasonality from fewer production days,” said Dr. Michael J. Hartnett, chairman and chief executive officer. “Our industrial businesses performed well in the quarter and we improved our execution which is reflected in a stronger gross margin performance.”
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.
