Regal Beloit sales decline 0.6 percent
Regal Beloit Corporation announced that its first quarter net sales of $813.5 million decreased 0.6% from the prior year.
The results included a negative 0.6% foreign currency translation impact and a negative 0.6% divestiture impact. The result was a positive organic sales growth rate of 0.7%.
Net income of $46.3 million, or $1.03 per share, compared to $41.6 million, or 93 cents, in the same period last year.
Commercial and Industrial Systems Segment net sales were $381.2 million, an increase of 1.0%.
Climate Solutions Segment net sales were $247.7 million, an increase of 3.3%.
Power Transmission Solutions Segment net sales were $184.6 million, a decrease of 8.1%.