Oxford bearing maker RBC Bearings reported a 1.6 percent increase in its second-quarter net sales, but said profits fell on higher expenses, acquisitions and restructuring costs.
Net sales for the three months ended Sept. 28 were $102 million, up from $100.4 million in the same quarter last year. The increase was driven by aerospace and defense sales, but offset by a decline in the company’s industrial, mining and construction segments.
Profits were $14.1 million, down from $16.5 million.
RBC completed its $13.6 million acquisition of Ohio’s Climax Metal Products Co. on Aug. 16.
