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RBC Bearings Reports Sales Grew 29.3% in 1Q

RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, a manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales for the first quarter fiscal year 2011 were up 29.3 percent to $82.4 million. Profit was $9.1 million.

The manufacturer reported a "substantial increase" in demand for its industrial products and improved aerospace markets. Industrial sales were up 96.5 percent, driven by orders in construction and mining, semiconductor, military vehicles, and general industrial.

Aerospace and defense was slightly off from the prior year, with a decrease in volume of 8.1 percent driven by aerospace aftermarket and business jet market.

Backlog, as of July 3, 2010, was $167 million compared to $157.9 million on April 3, 2010, and $170.9 million as of June 27, 2009.



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