RBC Bearings: 12% Sales Increase in 3Q
RBC Bearings Incorporated, Oxford, CT, an international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales for the second quarter 2007 grew 12.1% to $73.2 million. Profit was $7.4 million, compared to a loss of $2 million in the same period last year.
Sales for the six-month period ended Sept. 30, 2006, were $148.5 million, an increase of 13% from the same period last year. Profit was $12.4 million for the period, compared with profit of $1.4 million last year.
'Revenues grew slightly better than expected and gross margins improved as planned, as business continues to exceed the metrics we planned for this fiscal year," said Dr. Michael J. Hartnett, chairman and CEO. In ...