RBC Bearings Inc.
) reported fiscal third-quarter 2014 (ended Dec 28, 2013)
adjusted earnings of 55 cents per share, down 16.7% compared with
the Zacks Consensus Estimate of 66 cents. Adjusted earnings
increased 3.8% year over year.
Net sales in fiscal third-quarter 2014 were $100.5 million, up
4.4% year over year primarily due to the contribution from
acquisitions. Also, revenues got a boost from the hike in
aerospace and defense segment which was offset by a decline in
the industrial segment. However, revenues missed the Zacks
Consensus Estimate of $106.0 million by 5.2%. Revenue details of
each segment are being discussed hereunder:
segment revenues (52.7% of third-quarter total sales) were up
2.9% year over year to $53.0 million.
segment sales (27.1%) rose 4.5% to $27.3 million.
segment sales (13.0%) were $13.1 million, up 21.1% year over
sales (7.2%) were $7.2 million, down 9.2% year over year.
Exiting the quarter, backlog amounted to $218.6 million
compared with $211.3 million as on Dec 29, 2012.
In the reported quarter, RBC Bearings' cost of sales represented
61.7% of total revenue, compared with 62.3% in the year-ago
quarter. Selling, general and administrative expenses were
roughly $18.3 million and accounted for 18.2% of total revenue.
Operating margin in the quarter was recorded at 19.6%, decreasing
30 basis points year over year.
RBC Bearings' cash and cash equivalents increased to $118.3
million exiting the third quarter of fiscal 2014 against $112.3
million in the previous quarter. Total debt balance came in at
$10.7 million versus $10.5 million reported in the preceding
In the fiscal-third quarter 2014, cash flow from operating
activities was recorded at $14.4 million versus $19.5 million a
year ago. Capital spending was recorded at $8.0 million compared
with $19.2 million in the third quarter of fiscal 2013.
Other Stocks to Consider
RBC Bearings currently carries a Zacks Rank #4 (Sell). Some
better-ranked stocks in the industry include
Worthington Industries, Inc.
Century Aluminum Co.
CIRCOR International, Inc.
). While Worthington Industries sports a Zacks Rank #1 (Strong
Buy), Century Aluminum and CIRCOR International hold a Zacks Rank
CENTURY ALUM CO (CENX): Free Stock Analysis
CIRCOR INTL (CIR): Free Stock Analysis Report
RBC BEARINGS (ROLL): Free Stock Analysis
WORTHINGTON IND (WOR): Free Stock Analysis
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