RBC Reports First Quarter 2007 Results

RBC Reports First Quarter 2007 Results RBC Bearings Inc. (USA, NASDAQ: ROLL) reported results for fiscal first quarter 2007, ended July 1, 2006. For the quarter, sales were up 14% over 2006, to USD $75.2 million from $66.0 million. Operating income in the quarter was $13.5 million, up 30% from 2006's $10.4 million. Net income was $5 million, from $3.3 million in first quarter 2006. Chairman, President, and CEO, Dr. Michael Hartnett, said: "We are pleased to report strong sales and earnings for the first quarter of 2007. Demand in our end markets remained strong, and these trends, coupled with solid execution produced these results. Our priorities have remained consistent -- growing our customer base, expanding our product offerings, and reducing costs. I am encouraged by the success we have achieved through these initiatives and look forward to continued progress on these objectives as we move through fiscal 2007." RBC reports results by segments. Plain Bearings had sales in the quarter of $34.0 million, from $26.4 million in 2006. RBC Reports First Quarter 2007 Results Roller Bearings had sales of $24.2 million, down slightly from $24.4 million in 2006. Ball Bearings had sales of $12.2 million, up from $10.6 million in 2006. Other had sales of $4.8 million, from $4.5 million in 2006. Commenting on the upcoming prospects, Dr. Hartnett said: "We saw strong demand from our markets in the first quarter and a small shift of revenues from the second quarter to the first. Consequently, we anticipate some moderation of our top-line performance in the July through September period. At this point, we feel very positive about the outlook for the balance of our fiscal year 2007."