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RBC Bearings Sales Jump 30.5% in 2Q

RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, reported sales for the second quarter ended Oct. 2, 2010, were $83.1 million, an increase of 30.5 percent over the prior year same period. Profit for the manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries increased 95.5 percent to $8.6 million.

Sales for the six-month period were $165.5 million, an increase of 29.9 percent from the same period a year ago. Profit increased 74.5 percent to $18.5 million.

"Our second quarter results reflect continued improvements in our markets and demonstrate the strength of our operations and the leverage built into our cost base," CEO Dr. Michael J. Hartnett said. "We are particularly encouraged by the continued strength of various industrial segments, including the OEM and distribution markets, and we remain optimistic for continued revenue gains through fiscal 2011."

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