RBC Bearings Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended October 02, 2021
November 12, 2021 at 08:00 am EST
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RBC Bearings Incorporated reported earnings results for the second quarter and six months ended October 02, 2021. For the second quarter, the company reported sales was USD 160.9 million compared to USD 146.34 million a year ago. Net income was USD 6.93 million compared to USD 20.42 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to USD 0.82 a year ago. Diluted earnings per share from continuing operations was USD 0.25 compared to USD 0.82 a year ago.
For the six months, sales was USD 317.11 million compared to USD 302.83 million a year ago. Net income was USD 32.93 million compared to USD 43.11 million a year ago. Basic earnings per share from continuing operations was USD 1.28 compared to USD 1.74 a year ago. Diluted earnings per share from continuing operations was USD 1.27 compared to USD 1.73 a year ago.
RBC Bearings Incorporated is a manufacturer and marketer of engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries. The Company operates through two segments: Aerospace/Defense, and Industrial. The Company's products include plain bearings, roller bearings, ball bearings, mounted bearings, enclosed gearing, motion control components and engineered components. Its plain bearings are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or heavy mining and construction equipment. Its roller bearings are anti-friction products that utilize cylindrical rolling elements. Its roller bearings include tapered roller bearings, needle roller bearings and needle bearing track rollers and cam followers. Its engineered components consist primarily of engineered hydraulics and valves, fasteners, precision mechanical components and machine tool collets.