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RBC Bearings Incorporated Announces Fiscal 2012 Second Quarter Results

RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, today reported results for the second quarter ended October 1, 2011.

Second Quarter Highlights

  Q2 Fiscal 2012   Q2 Fiscal 2011  

($ in millions)
GAAP GAAP % Change
Net sales $97.8 $83.1 17.6%
Gross margin $34.0 $27.2 24.8%
Gross margin % 34.8% 32.8%
Operating income $18.4 $13.9 32.3%
Operating income % 18.8% 16.7%
Net income $11.6 $8.6 35.5%
Diluted EPS $0.52 $0.39 33.3%


Six Month Highlights

  Q2 Fiscal 2012   Q2 Fiscal 2011  

($ in millions)
GAAP GAAP % Change
Net sales $191.1 $165.5 15.5%
Gross margin $65.8 $53.5 23.0%
Gross margin % 34.4% 32.3%
Operating income $35.4 $27.9 26.7%
Operating income % 18.5% 16.9%
Net income $22.3 $17.6 26.6%
Diluted EPS $1.00 $0.80 25.0%


“We are extremely pleased with the results of the second quarter, they reflect our continued execution in the expanding industrial and aerospace markets,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “In particular, we are seeing sustained demand in many of our core industrial end markets, including distribution, construction, mining, and energy, and we continue to benefit from increased activity with the major aircraft manufacturers. We have a strong backlog and balance sheet to support our growth plans for the coming quarters and into our fiscal 2013.”

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