RBC Bearings sales fall
RBC Bearings reported net sales for the fourth quarter of fiscal 2013 declined 7.5% to $103.0 million.
The decrease was attributed to an 18.9% decline in industrial sales driven by slowing OEM activity in mining, semiconductor and military vehicles, partially offset by a 4.9% increase in aerospace and defense driven by commercial aircraft build rates and the aerospace aftermarket.
Net income for the manufacturer of precision plain, roller and ball bearings for the industrial, defense and aerospace industries was $10.6 million compared to $15.5 million for the same period last year.
For the full year, sales increased 1.4% to $403.1 million, and net income was $56.3 million.
During the fourth quarter, the company acquired Western Precision Aero LLC, a manufacturer of precision components and gears for the aerospace and industrial markets for $2.6 million. WPA’s sales for calendar year 2012 were approximately $5.0 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.
