Looking For Bearings?
All Types Of High Quality Bearings. Extensive Inventory, Fast Shipping.Find Exactly What You Want Today!
bearings
Bearing Manufacturer  Products  Bearing Types  Bearing News  

RBC Bearings Q1 Profit Plummets

By Bearing Manufacturer>Bearing News>RBC Bearings Q1 Profit Plummets
©2004-2012

Maker of High Speed Bearings for industrial and military use RBC Bearings Inc. (ROLL: News ) Wednesday reported a sharp decline in first quarter profit, as downturn in the global economy dampened demand, resulting a 31% decline in quarterly sales.

 

For the first quarter, net income declined 52.6% to $5.07 million or $0.23 per share from $10.68 million or $0.49 per share in the same quarter a year ago. Excluding adjustments, net income was down 52.4% at $5.3 million, compared to $11.2 million in the prior-year quarter. On a per share basis, adjusted earnings were $0.25 compared to $0.51 last year.

 

On average, three analysts polled by Thomson Reuters expected earnings of $0.30 per share for the quarter. Analysts' estimate typically excludes one-time items.

 

Net sales dropped 31% to $63.73 million from $92.38 million in the prior year quarter, missing Street estimates of $71.72 million. The company attributed the decline in sales mainly to a 46.3% drop in industrial sales, amid economic declines.

 

Sales from Needle Roller bearings segment dropped to $15.57 million from $24.96 million in the year-ago quarter. Plan bearing segment revenues declined to $31 million from $43.72 million in the prior-year quarter. Ball bearing segment were down at $12.24 million, compared to $15.05 million in the year-earlier quarter.

 

Michael Hartnett, chief executive officer said, "During the period we, like other companies serving our industries, experienced a decline in demand from many of our primary markets attributed to the current broad economic conditions."

 

Operating income of Stainless Steel Bearings was $7.78 million, down 54.4% from $17.05 million in the same quarter last year. As a percentage of net sales, operating profit was 12.2% compared to 18.5% for the same period last year.

 

ROLL is currently trading at $22.53, down $1.62 or 6.71%, on the Nasdaq.


F T 
Latest Articles
Abec 5 Skateboard Bearings, Abec-5
Bearings Ceramic
Sealmaster bearing
Bower cylindrical bearing
Abec Bearing 608z, Skateboard Bearings
Small Bearing Suppliers
5/32 inner diameter = 0.156 inch
Small Parts And Bearings
Stainless Steel Skateboard Bearing,
Skateboard Bearing Spacer, Washer
Latest Topic
MR105zz Bearings
6804 2rs Bearings
K35X42X20 Needle Roller And Cage
696 Silicon Carbide Ceramic Hybrid
6916 2rs Bearings
PNA25/47 Aligning Needle Roller Bearings
R515zz
51124M Silicon Carbide Full Ceramic
694 2RS Bearings
601x Bearings
Category

Miniature Bearings
Deep Groove Ball Bearings
Flanged Ball Bearings
Miniature Thrust Bearings
Needle Roller Bearings
Stainless Steel Bearings
Ceramic Bearings
Skateboard Bearings
Dental Bearings
Custom Bearings


Latest Bearings


$index_product_mb$