Regal Beloit narrowed loss in 4Q
Regal Beloit Corporation reported a fourth quarter 2015 diluted loss of $19.3 million, or 43 cents per share.
The results showed an improvement over a loss of $116.5 million, or $2.61 per share, in the previous year's fourth quarter.
Sales of $774 million were relatively flat compared to $776 million in the same period a year ago.
Full-year sales of $3.5 billion were up 7.8 percent from $3.3 billion in 2014. Net income for the year of $143.3 million, or $3.21 per share, compared to $31 million, or 69 cents per share in 2014.
In the fourth quarter, Commercial and Industrial Systems Segment net sales were $371 million, down 18%.
Climate Solutions Segment net sales were $210 million, down 18%.
Power Transmission Solutions Segment net sales increased 182% to $193 million, driven primarily by acquisition growth of $128 million.
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.
