This Day On The Street
Continue to site
ADVERTISEMENT
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

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.”

1 of 6

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs