RBC Bearings Inc.
) reported fiscal first-quarter 2014 adjusted earnings of 66
cents per share, in line with the Zacks Consensus Estimate.
Adjusted earnings increased 6.5% year over year.
On a GAAP basis, earnings came in at 65 cents, declining 14.5%
year over year, due to the consolidation and restructuring of
large bearing facilities.
Net sales in fiscal 2014 first quarter were $102.7 million, down
0.6% year over year due to a decline in the Industrial segment,
which was partly offset by a rise in the sales in Aerospace and
Defense segment. Revenues also missed the Zacks Consensus
Estimate of $105.0 million by 2.2%. Revenue detail of each
segment is discussed hereunder:
segment revenues (55.6% of first quarter's total sales) were up
3.1% year over year to $57.1 million.
segment sales (27.6%) dropped 9.7% to $28.4 million.
segment sales (9.2%) were $9.5 million, up 0.7% year over year.
sales (7.6%) were $7.8 million, up 8.7% year over year.
In the reported quarter, RBC Bearings' cost of goods sold
represented 60.6% of total revenue, compared with 62.8% in the
year-ago quarter. Selling, general and administrative expenses
were roughly $17.0 million and accounted for 16.5% of total
revenue. Adjusted operating margin in the quarter was recorded at
22.3%, increasing 100 basis points year over year.
RBC Bearings' cash and cash equivalents increased to $128.1
million exiting the first quarter of fiscal 2014 against $115.8
million in the previous quarter. Total debt balance came in at
$10.2 million versus $10.3 million reported in the preceding
In fiscal first quarter of 2014, cash flow from operating
activities was recorded at $17.4 million versus $26.5 million a
year ago. Capital spending was recorded at $5.8 million compared
with $6.1 million in the first quarter of fiscal 2013.
Other Stocks to Consider
CIRCOR International, Inc.
) released its second-quarter results on Aug 1, 2013. The company
reported earnings per share of 81 cents, beating the Zacks
Consensus Estimate of 68 cents by 19.1%.
) released its second-quarter results on Jul 25, 2013. The
company reported earnings per share of 42 cents, beating the
Zacks Consensus Estimate of 38 cents by 10.5%.
Century Aluminum Co.
) released its second-quarter results on Jul 30, 2013. The
company reported a loss per share of 37 cents, wider than the
Zacks Consensus Estimate of a loss of 16 cents.
CENTURY ALUM CO (CENX): Free Stock Analysis
CIRCOR INTL (CIR): Free Stock Analysis Report
RBC BEARINGS (ROLL): Free Stock Analysis
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