Posted May 26, 2011
RBC Bearings annual sales up 22.2%
RBC Bearings Incorporated said its net sales for the fourth quarter of fiscal 2011 were $88.9 million, an increase of 11.4% from Q4 2010.
The increase was driven by an 18.5% gain in industrial business and 4.6% in net sales in aerospace and defense business.
Operating income increased 39.4% to $16.1 million for the fourth quarter of fiscal 2011 compared to $11.5 million for the same period last year. Net income of $9.9 million compared to net income of $9.7 million in the same period last year.
Net sales for fiscal 2011 were $335.6 million, an increase of 22.2% from $274.7 million for the same period last year. Net income for fiscal 2011 was $34.9 million compared to net income of $24.4 million for the same period last year.
"Both sales and operation efficiencies showed significant gains over last year and are the result of continued improvement in demand for products from our core markets, new product introductions and the maturing of many operating efficiency initiatives," said Dr. Michael J. Hartnett, chairman and chief executive officer. "We expect further strengthening of our core markets thru our fiscal year and are pleased to be planning an expansion of production rates in many of our plants."
