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RBC Bearings Incorporated Announces Fiscal 2012 Fourth Quarter Results

Stocks in this article: ROLL

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 fourth quarter ended March 31, 2012.


Fourth Quarter Highlights


  Q4 Fiscal 2012   Q4 Fiscal 2011  

($ in millions, except EPS)

GAAP GAAP % Change
Net sales $111.3 $88.9 25.2%
Gross margin $41.2 $30.3 35.8%
Gross margin % 37.0% 34.1%
Operating income $24.1 $16.1 49.9%
Operating income % 21.6% 18.1%
Net income $15.5 $9.9 57.4%
Diluted EPS $0.69 $0.44 56.8%

Full Year Highlights


  Fiscal 2012   Fiscal 2011  

($ in millions, except EPS)

GAAP GAAP % Change
Net sales $397.5 $335.6 18.4%
Gross margin $140.6 $109.8 28.1%
Gross margin % 35.4% 32.7%
Operating income $77.6 $56.2 38.2%
Operating income % 19.5% 16.7%
Net income $50.0 $34.9 43.4%
Diluted EPS $2.23 $1.58 41.1%

“Our fourth quarter results demonstrated our continued strong execution and the improving fundamentals of our end markets. Strong demand in the industrial end markets, particularly mining, energy, and general distribution, continues, and our major aerospace customers are increasing build rates that incorporate numerous new products,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “We are pleased to report growth in sales, gross margins, and earnings for our fiscal year, and we remain focused on delivering shareholder value as we execute on our plans to position RBC Bearings as a leading manufacturer for the industrial and aerospace markets.”

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