Posted August 4, 2011
RBC Bearings sales up 13.3%
RBC Bearings Incorporated reported net sales for the first quarter of fiscal 2012 were $93.3 million, an increase of 13.3% from $82.4 million in the first quarter of fiscal 2011.
The increase was mainly the result of an 11.9% increase in industrial sales driven by strong orders in construction and mining, semiconductor, and the general industrial markets and a 15.0% increase in aerospace and defense driven by commercial aircraft build rates and the aerospace aftermarket.
Operating income for the quarter was $17.0 million, an increase of 21.1% compared to $14.0 million for the same period last year.
"We continue to see strong demand in our core industrial markets, including OEM, and we are increasing our production rates to support the increased demand we are seeing in this sector," said Dr. Michael J. Hartnett, chairman and chief executive officer.
