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News briefs from Jan. 26 – Feb. 10.
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News briefs from Jan. 26 – Feb. 10.
Third quarter sales in the industrial business fell 16.9%.
News briefs from Oct. 26 – Nov. 10, 2009
RBC hit in industrial, aerospace and defense businesses.
Acquisition of Lubron expands RBC’s offerings in infrastructure repair and construction.
Wolseley Cuts Ferguson CEO/President Position … Gates Buys Hydrolink … Grainger July Sales Down 14% … Timken India Signs Agreement with Spearage … GE and FANUC End Joint Venture … M&A Continues Decline … Manufacturing Accounts for Most Mass Layoffs … U.S./Canadian Manufacturer Sales … Wholesale Prices Down in July … Earnings: Avnet, BlueLinx Holdings, Kaman, Applied Industrial Technologies, Beacon Roofing Supply, ERIKS, RBC Bearings, General Bearing, Fluor, Illinois Tool Works, The Home Depot … USMTC Up 22% from May … Manufacturing Barometer Shows Less Pessimism
RBC Bearings Inc., Oxford, CT, a manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales for the first quarter of fiscal year 2010 were $63.7 million, down 31% from the prior year period. Profit declined 52.6% to $5.1 million.
A drop of 46.3% in industrial sales due to the current economic climate was the primary reason for the overall sales declines. Aerospace and defense were less impacted and decreased by …
RBC Bearings Inc., Oxford, CT, a manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales for fiscal year 2009, ended March 28, 2009, were $355.8 million, up 7.6% over fiscal year 2008 results. Profit declined 14.3% to $34.5 million.
For the fourth quarter of fiscal year 2009, sales were $83.8 million, down 9% from fourth quarter of fiscal year 2008. Profit decreased 46.2% to $6.5 million. …
Grainger, Chicago, IL, has named Court Carruthers to a newly created position as president of its international businesses in Canada, Mexico, and China. Carruthers’ new responsibilities include growing and improving Grainger’s international business operations, which had sales of more than $800 million in 2008. Carruthers is currently president of Grainger’s Canadian subsidiary, Acklands-Grainger. More
Grainger reported sales of $6.9 billion for the year ended Dec. 31, 2008, up 7 percent from 2007. Profit of $475 million was up 13 percent. Grainger reported that it is somewhat below the low end” of the range it provided in November for 2009 of -5 percent and +5 percent. In …
RBC Bearings Inc., Oxford, CT, an international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales of $85.3 million for the third quarter ended Dec. 27, 2008, an increase of 6.1% from the same period a year ago. Profit was $7.7 million, a decrease of 20%.
Our third quarter certainly presented us with more challenges than we expected at the beginning of the period, CEO Michael J. Hartnett said. “The length of the strike at Boeing combined with the global financial crisis created increasing headwinds as the quarter aged.”
For the first nine months, sales were $272 million, up 14% from the first nine months of fiscal year 2008. Profit …
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