Bearings manufacturer RBC Bearings Inc., (NASDAQ: ROLL), Oxford, CT, reported sales for the fiscal first quarter of $113 million, a 10 percent increase over the same period a year ago. Profit increased 6 percent to $16 million.
The increase in net sales was mainly the result of a 19.3 percent increase in industrial sales and a 3.8 percent increase in aerospace and defense.
Growth in industrial sales was driven by volume increases in mining, oil and gas, and the general industrial markets. Aerospace and defense increased 9.8 percent in OEM business driven by commercial aircraft build rates offset by a 15.7 percent decrease in distribution volume.