RBC is buying the manufacturer of precision bearings for the commercial and defense aerospace markets for $18.7 million.
Latest In RBC Bearings
The company said that Aerospace/Defense sales were up 21.2%, while Industrial sales were up 4.7%.
After three quarters in fiscal 2023, the bearings manufacturer has surpassed $1 billion in net sales, according to an earnings announcement.
The company reported fiscal 2023 second-quarter net sales of $369.2 million, and increase of 129.4% over last year.
The company reported fiscal 2022 fourth-quarter net sales of $358.9 million and gross margin of $137.5 million.
RBC Bearings Inc. reported fiscal 2022 third-quarter net sales of $267 million, while organic net sales were up 7.6% over last year.
International manufacturer of engineered precision bearings reported fiscal 2Q net sales were 10% higher than the same period a year ago.
Bearings manufacturer RBC Bearings did see its profit grow 14.6% in the period.
RBC is paying $2.9 billion to acquire the international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries.
Net sales for the fourth quarter of fiscal 2021 decreased 13.7% compared to the previous year.
Bearings manufacturer RBC Bearings sees profit sink 34.8% in the second quarter of fiscal 2021.
Bearings manufacturer RBC Bearings names Robert M. Sullivan vice president and CFO, and John J. Feeney vice president, general counsel and secretary.
Profit for the year was $126 million, compared to $105 million in 2019.
Swiss Tool Systems is a supplier of modular tooling systems and high-precision boring and turning solutions for metal cutting machines.
Manufacturer sells its Avborne Accessory Group subsidiary to Florida-based AerSale, Inc.
Bearing manufacturer appoints Joseph Salamunovich general counsel and secretary, effective immediately.
Sales for first six months of FY2018 increase 6.4 percent.
Fourth quarter sales decreased 1.3 year-over-year.
