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RBC Bearings 3Q Sales Up 20.4%

RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, reported sales for the third quarter ended Jan. 1, 2011, were $81.3 million, an increase of 20.4 percent over the same period a year ago. Profit increased 42.3 percent to $7.4 million.

For the first nine months, sales were $246.7 million, up 26.6 percent over the first nine months of fiscal year 2010. Profit increased 70 percent to $25 million.

"We are pleased to report continued strong demand across our end markets in the third quarter of 2011," CEO Dr. Michael J. Hartnett, said. "Sales to the industrial markets remain robust and we are encouraged to see our aerospace and defense markets return to growth in the quarter."

Sales growth in the third quarter was driven by a 44 percent increase in the industrial business and a 2.6 percent increased in aerospace and defense.

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