RBC Bearings: Fiscal 1Q Earnings Snapshot
OXFORD, Conn. (AP) _ RBC Bearings Inc. (ROLL) on Thursday reported fiscal first-quarter profit of $27.5 million.
On a per-share basis, the Oxford, Connecticut-based company said it had profit of $1.12. Earnings, adjusted for non-recurring costs, came to $1.15 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The maker of bearings and components posted revenue of $176 million in the period, which matched Street forecasts.
For the current quarter ending in October, RBC Bearings said it expects revenue in the range of $171 million to $174 million.
RBC Bearings shares have risen 14 percent since the beginning of the year. The stock has risen 38 percent in the last 12 months.