RBC Bearings: Fiscal 3Q Earnings Snapshot
OXFORD, Conn. (AP) _ RBC Bearings Inc. (ROLL) on Tuesday reported fiscal third-quarter earnings of $16.2 million.
On a per-share basis, the Oxford, Connecticut-based company said it had net income of 65 cents. Earnings, adjusted for one-time gains and costs, were $1.15 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The maker of bearings and components posted revenue of $171.5 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $176.2 million.
For the current quarter ending in March, RBC Bearings said it expects revenue in the range of $178 million to $180 million.
RBC Bearings shares have increased slightly more than 7 percent since the beginning of the year. The stock has risen 15 percent in the last 12 months.