Posted February 10, 2011
RBC Bearings sales up 20.4 percent
RBC Bearings reported net sales for the third quarter of fiscal 2011 were $81.3 million, an increase of 20.4% from $67.5 million in the third quarter of fiscal 2010.
The increase was driven by an increase of 44.0% in our industrial business and 2.6% in net sales in our aerospace and defense business. Gross margin for the third quarter was $26.0 million compared to $20.4 million for the same period last year.
Operating income increased 49.9% to $12.2 million compared to $8.1 million for the same period last year.
"We are pleased to report continued strong demand across our end markets in the third quarter of 2011," said Dr. Michael J. Hartnett, chairman and chief executive officer. "Sales to the industrial markets remain robust and we are encouraged to see our aerospace and defense markets return to growth in the quarter."
Net sales for the nine month period were $246.7 million, an increase of 26.6%.
RBC Bearings is an Oxford, Conn.-based manufacturer of precision bearings and components.
