RBC Bearings 4Q Earnings Decline

RBC Bearings Inc., a maker of ball bearings for industrial and military uses, said Wednesday its fourth-quarter profit slipped on plant consolidation costs and a stock option compensation charge, but its full-year profit surged. Fourth-quarter earnings fell 16.7 percent to $6 million, or 33 cents per share, compared to $7 million, or 71 cents per share, in the year-ago period. The company had an average of 16.8 million shares outstanding in the recent quarter, versus 6.2 million in the year-ago period.