Posted February 3, 2010
Regal Beloit reports 4.1% sales dip
Regal Beloit Corporation reported net sales of $463.3 million decreased 4.1% compared to $483.0 million reported for the fourth quarter of 2008.
Diluted earnings per share were 90 cents, compared to 63 cents for the fourth quarter of 2008. For the full year, sales were $1.826 billion as compared to $2.246 billion in 2008. Full year diluted earnings per share were $2.63 per share as compared to $3.78 per share for 2008.
"We are pleased to report solid fourth quarter and full year results, despite the difficult global economy," said Henry Knueppel, chairman and CEO. "We are particularly pleased with our strong cash performance, our growth in energy efficient products and our plant rationalization and productivity results."
Fourth quarter sales of high efficiency products were 16.5% of total sales as compared to 12.0% for the fourth quarter 2008. Full year sales of high efficiency products were 17.2% as compared to 12.8% for 2008.
