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RBC Bearings Incorporated Announces Fiscal 2013 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 of fiscal year 2013.

Second Quarter Highlights

 

  Fiscal 2013   Fiscal 2012   Change

($ in millions)

GAAP   Adjusted (1) GAAP GAAP   Adjusted (1)
Net sales $100.4   $97.8 2.7%  
Gross margin $37.5 $34.0 10.4%
Gross margin % 37.4% 34.8%
Operating income $21.2 $18.4 15.4%
Operating income % 21.1% 18.8%
Net income $16.5 $13.7 $11.6 42.3% 17.8%
Diluted EPS $0.73 $0.60 $0.52 40.4% 15.4%
(1) Results exclude items in reconciliation below.

Six Month Highlights

 

  Fiscal 2013   Fiscal 2012   Change

($ in millions)

GAAP   Adjusted (1) GAAP GAAP   Adjusted (1)
Net sales $203.7   $191.1 6.6%  
Gross margin $76.0 $65.8 15.5%
Gross margin % 37.3% 34.4%
Operating income $43.2 $35.4 22.1%
Operating income % 21.2% 18.5%
Net income $33.7 $27.6 $22.3 50.9% 23.7%
Diluted EPS $1.49 $1.22 $1.00 49.0% 22.0%
(1) Results exclude items in reconciliation below.

“We are pleased with the strong execution shown in our second quarter,” said Dr. Michael J. Hartnett, Chairman and Chief Executive Officer. “Sales volume of aircraft products continue to expand as expected and industrial product volumes, although not as strong as last year, continued to do well in this environment.”

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