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E-mail: obtbearing@163.com
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RBC Bearings Inc.'s (ROLL) fiscal fourth-quarter profit jumped 49%
12. Jun. 2010
RBC Bearings Inc.'s (ROLL) fiscal fourth-quarter profit jumped 49%, beating analysts' estimates, as one-time expenses were sharply lower and sales fell.
The maker of bearings and other components used by industrial and aerospace companies and defense contractors stands to benefit as manufacturing performance has picked up in recent months with the global economic improvement. Its sales have slumped for more than a year.
For the quarter ended April 3, RBC Bearings reported a profit of $9.7 million, or 44 cents a share, up from $6.5 million, or 30 cents a share, a year earlier. Excluding items such as a prior-year charge for the disposal of fixed assets and the start-up of the company's large-bearing business in the latest quarter, earnings fell to 37 cents a share from 44 cents a share. Analysts polled by Thomson Reuters expected earnings of 34 cents a share.
Revenue slid 4.8% to $79.8 million, beating the company's upbeat forecast of $76 million to $77.6 million.
Gross margin narrowed to 31.5% from 34.5%.
Sales of plain bearings--its biggest business by revenue--rose 1.2% as roller bearings and ball bearings sales fell 6.6% and 26%, respectively. By customer type, industrial sales were up 31% while aerospace and defense sales were 24% lower.
The shares closed Tuesday at $27.64 and were inactive premarket. The stock has gained 35% in the past year.
obt bearing
shandong obetter bearing co., ltd
www.obtbearing.com
obtbearing@163.com
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