This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Regal Beloit's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Third, we began to move into our new hermetic motor facility in China. Fourth also in China we began construction of our new generator facility, Jon will cover both of those areas here in a few minutes. Fifth, we continue to smooth integration of EPC and we are on track to achieve our performance targets and finally consistent with our customer care and simplification initiatives. We launched a new corporate visual identity that we’ll discuss at the end of this call.

With that, I will turn it over to Chuck Hinrichs.

Chuck A. Hinrichs

Thank you Mark and good morning everyone. My first slide summarizes some of the highlights of our first quarter 2012 results. Net sales increased 21.9% over the prior year reflecting the inclusion of sales from the acquired businesses, including seven weeks of sales from our most recent acquisition, Milwaukee Gear. Sales in the quarter reflected continued growth in our North American commercial and industrial motor and mechanical businesses and Unico. This growth helps to offset weak sales in our HVAC, China and European businesses.

As we said on our previous calls, the EPC business is being integrated with our other businesses. We are not providing standalone results, but the EPC results continue to be excellent, reflecting good seasonal sales growth and operating profit in the first quarter. Our first quarter results benefitted from two non-operating items. First, we sold a parcel of land at a facility closed several years ago. The sale resulted in a gain of $1.3 million or $0.02 per share, which reduced our SG&A expenses in the quarter. Secondly, our income tax expense in the quarter benefited from a $1.4 million tax decrease at a non-U.S. entity. This represented a $0.04 per share benefit in the quarter.

In summary, our first quarter 2012 earnings per share of a $1.16 included the benefit of these two non-operating items, which totaled $0.06 a share. Excluding these non-operating items, our earnings per share would have been $1.10 inline with our earlier guidance for the quarter.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs