The 2020 Mid-Year Economic Update_long

RBC Bearings Sales Up 1.4% in Fiscal Year 2013

The bearings manufacturer will restructure its manufacturing facilities and reduce workforce in Texas.

Bearings manufacturer RBC Bearings Inc. (Nasdaq: ROLL), Oxford, CT, reported sales for the fiscal year ended March 30, 2013, of $403.1 million, up 1.4 percent over fiscal year 2012. Profit increased 12.7 percent to $56.3 million.

For the fourth quarter of fiscal 2013, sales were $103 million, a decrease of 7.5 percent from the prior year period. Profit declined 31.6 percent to $10.6 million.

The decrease in sales was attributable to an 18.9 percent decline in industrial sales driven by slowing OEM activity in mining, semiconductor and military vehicles, partially offset by a 4.9 percent increase in aerospace and defense.

During the fourth quarter, RBC decided to consolidate its Texas manufacturing facility into its South Carolina operation to better align manufacturing abilities and product development. The move will include a reduction in the workforce in Texas.

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