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Bearings manufacturer RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, reported sales for the fiscal year of $418.9 million, up 3.9 percent over fiscal year 2013. Profit increased 6.9 percent to $60.2 million.
For the fourth quarter of fiscal 2014, sales were $113.7 million, an increase of 10.4 percent from the previous year. Profit for the quarter increased 72.1 percent to $18.2 million.
The fourth-quarter increase in sales was attributed to a 12.9 percent increase in aerospace and defense sales as well as an increase of 7.3 percent in industrial sales which was driven by energy, construction, and general industrial activity.
“These record results showed sustained year-over-year growth driven by strong execution, continued aerospace demand and improving industrial markets at the end of the fiscal year,” said Michael J. Hartnett, chairman and CEO.