Oxford roller and ball bearings maker RBC Bearings Inc. posted quarterly results that beat market estimates, helped by strong performance at its industrial business, Reuters reports.
RBC Bearings, which caters to the industrial, defense and aerospace industries, said its industrial business grew 18.5 percent for the quarter.
RBC’s fourth-quarter net income rose to $9.9 million, or 44 cents a share, from $9.7 million, or 44 cents a share, a year ago.
On an adjusted basis, the company earned 47 cents a share.
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Net sales rose to $88.9 million from $79.8 million.
Analysts on average had expected earnings of 43 cents a share, on revenue of $86.6 million, according to Thomson Reuters I/B/E/S.
