Date: 2016-08-12

RBC Bearings tops 2Q profit forecasts

OXFORD, Conn. (AP) _ RBC Bearings Inc. (ROLL) on Thursday reported earnings of $13.2 million in its fiscal second quarter.

The Oxford, Connecticut-based company said it had profit of 57 cents per share. Earnings, adjusted for non-recurring costs, came to 70 cents per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The maker of bearings and components posted revenue of $112.6 million in the period, falling short of Street forecasts. Analysts expected $112.7 million, according to Zacks.

RBC Bearings shares have dropped 18 percent since the beginning of the year. The stock has dropped 17 percent in the last 12 months.

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