RBC Bearings Sales Fall 32.5% in 2Q
RBC hit in industrial, aerospace and defense businesses.
RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, international manufacturer of precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales for the second quarter in fiscal 2010 were $63.7 million, a decrease of 32.5% from the prior-year period. The decline was driven by a 43.4% decrease in industrial business and a 23.5% decrease in aerospace and defense.
Profit for the second quarter was $4.4 million, about half that of the same period last year.
Sales for the first six months ended Sept. 26, 2009, were $127.4 million, a decrease of 31.8%. Profit for the six-month period was $9.5 million, down from $20.3 million the year before.
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