Regal Beloit Corp. (NYSE: RBC), Beloit, WI, reported sales for the first quarter of $778.2 million, a decrease of 3.7 percent compared to the same period a year earlier. Profit increased 1.6 percent to $50.7 million.
Electrical segment sales in the first quarter of $711 million, down 2.8 percent from the prior year, included $4.6 million from businesses acquired within the last year. Excluding the impact of the acquired businesses, North American commercial and industrial motor net sales decreased 6.7 percent.
Mechanical segment net sales for the first quarter of $67.2 million, down 12.2 percent year-over-year, included $3.4 million from businesses acquired within the last year. Excluding the impact of the acquired and divested businesses, sales in North America decreased 6.9 percent.
"In the first quarter of 2013, Regal's end markets were mixed. While the U.S. residential market grew in line with expectations, the U.S. commercial and industrial markets did not perform as well as we had expected earlier in the year. Our North American HVAC sales were up 3.5 percent in the quarter and sales in our Unico business remained strong," said Regal Chairman and CEO Mark Gliebe.