RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, reported sales for the third quarter ended Dec. 31, 2011, were $95.1 million, up 17 percent over the same period a year ago. Profit increased 65 percent to $12.2 million.
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For the first nine month of the fiscal year, sales were $286.2 million, up 16 percent year over year. Profit increased 38 percent to $34.5 million.
\”Strong demand continues across our industrial end markets, specifically mining, oil and gas, and general industrial distribution,\” CEO Michael J. Hartnett said. \”We are also seeing an acceleration of production in the aerospace market, and we are reviewing our order book and making the necessary adjustments operationally to ensure that we can continue capitalizing on these opportunities throughout the year.\”
The third-quarter sales increase was driven by an increase of 18 percent in the industrial business and by a 16.1 percent increase in net sales in the aerospace and defense business.