RBC Bearings Inc.
) reported fiscal second-quarter 2014 adjusted earnings of 64
cents per share, missing the Zacks Consensus Estimate of 66 cents
by two cents. Adjusted earnings increased 6.7% year over
On a GAAP basis, earnings per share came in at 61 cents, a
decline of 16.4% year over year, due to consolidation and
restructuring of large bearing facilities.
Net sales in second-quarter fiscal 2014 were $102.0 million, up
1.6% year over year driven by improvement in the aerospace and
defense segment. However, revenues missed the Zacks Consensus
Estimate of $105.0 million. Revenue details of each segment are
segment's revenues (51.8% of the second quarter's total sales)
were down 0.8% year over year to $52.8 million. Sales from the
segment (29.7%) declined 0.8% year over year to $30.3 million.
segment (11.0%) recorded sales of $11.2 million, an increase of
12.2% year over year. The
segment's sales (7.5%) were $7.6 million, up 8.2% year over
Exiting the second quarter, RBC Bearings had a backlog of
$222.3 million, compared with $216.1 million in the year-ago
In the reported quarter, RBC Bearings' cost of goods sold
represented 60.2% of total revenue, compared with 62.6% in the
year-ago quarter. Selling, general and administrative expenses
were roughly $17.1 million and accounted for 16.8% of total
revenue. Adjusted operating margin in the quarter was recorded at
22.4%, increasing 125 basis points year over year.
RBC Bearings' cash and cash equivalents stood at $112.3 million
exiting the second quarter of fiscal 2014 against $128.1 million
in the previous quarter. Total debt balance came in at $10.5
million versus $10.2 million reported in the preceding
In the reported quarter, cash flow from operating activities was
recorded at $4.2 million versus $3.2 million a year ago. Capital
spending was recorded at $8.8 million improved from $5.5 million
in the second quarter of fiscal 2013.
Other Stocks to Consider
RBC Bearings holds a Zacks Rank #3 (Hold). Other stocks worth
considering in the industry include
CIRCOR International, Inc.
Dynamic Materials Corp.
). All of these carry a Zacks Rank #1 (Strong Buy).
DYNAMIC MATLS (BOOM): Free Stock Analysis
CIRCOR INTL (CIR): Free Stock Analysis Report
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RBC BEARINGS (ROLL): Free Stock Analysis
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