Friday, June 4, 2010

Industrial business drives RBC Bearings

RBC Bearings has reported fourth quarter net sales of $79.8 million, a decrease of 4.8% from $83.8 million in the fourth quarter of fiscal 2009 and an 18.3% increase over the third quarter of fiscal 2010. The decrease of 4.8% was driven by a 24.3% decrease in net salesfrom its aerospace and defense business, partially offset by an increase of 30.6% in its industrial business

"I am encouraged by the strong expansion we saw in our industrial business during the fourth quarter and the industry wide outlook for our aerospace and defense products," said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. "Our strategy of preserving operating capacity and flexibility allowed us to quickly revive our industrial volumes and we are in good position to support this increased demand in our new fiscal year."

RBC Bearings Incorporated , headqurtered in Connecticut, is an international manufacturer and marketer of highly engineered precision bearings and components. Founded in 1919, the Company is primarily focused on producing highly technical or regulated bearing products requiring sophisticated design, testing, and manufacturing capabilities for the diversified industrial, aerospace and defense markets. Headquartered in Oxford, Connecticut, RBC Bearings currently employs approximately 1,791 people and operates 23 manufacturing facilities in four countries.

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