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RBC Bearings Incorporated Announces Fiscal 2012 Third 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 third quarter ended December 31, 2011.

Third Quarter Highlights
($ in millions) Q3 Fiscal 2012 Q3 Fiscal 2011
GAAP GAAP % Change
Net sales $95.1 $81.3 17.0%
Gross margin $33.6 $26.0 29.5%
Gross margin % 35.4% 32.0%
Operating income $18.2 $12.2 49.2%
Operating income % 19.1% 15.0%
Net income $12.2 $7.4 64.7%
Diluted EPS $0.54 $0.33 63.6%

Nine Month Highlights
($ in millions) Q3 Fiscal 2012 Q3 Fiscal 2011
GAAP GAAP % Change
Net sales $286.2 $246.7 16.0%
Gross margin $99.4 $79.5 25.1%
Gross margin % 34.7% 32.2%
Operating income $53.6 $40.1 33.5%
Operating income % 18.7% 16.3%
Net income $34.5 $25.0 37.9%
Diluted EPS $1.54 $1.14 35.1%

“We are pleased with the strong results we reported in our third quarter,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “Strong demand continues across our industrial end markets, specifically mining, oil and gas, and general industrial distribution. We are also seeing an acceleration of production in the aerospace market, and we are reviewing our order book and making the necessary adjustments operationally to ensure that we can continue capitalizing on these opportunities throughout the year.”

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