Oxford manufacturer RBC Bearings Inc. reported positive results this week for the first quarter of fiscal year 2020.
The company, headquartered at 102 Willenbrock Rd., makes precision bearings and components for the industrial, defense and aerospace industries. It has operations around the country as well as in Europe and Mexico.
The 100-year-old manufacturer reported net sales of $182.7 million, an increase of 3.8 percent over $176 million in the first quarter of fiscal 2019. Net income for the first quarter of fiscal 2020 was $30.5 million compared to $27.5 million for the same period last year, according to a press release.
RBC saw sales improvements in the aerospace market, but declines in the industrial market.
Company leaders predicted RBC is “on track” for a strong fiscal 2020.
Michael J. Hartnett, chairman and chief executive officer, said in an announcement, “We are pleased with our operating performance during the first quarter of fiscal 2020 as revenue was within our expectations.”
The company’s stock (Nasdaq: ROLL) was trading at $159.94 as of Friday morning.
