Date: 2013-08-01

RBC Beats Earnings, Lags Rev in 4Q13

Metal products company RBC Bearings Inc. (ROLL - Snapshot Report) reported fiscal fourth quarter 2013 financial results with adjusted earnings of 69 cents per share, beating the Zacks Consensus Estimate of 63 cents per share. Efficiency gains as well as margin expansion facilitated the beat. However, the results were flat when compared with the year-ago earnings.

For fiscal 2013, RBC reported earnings of $2.43 per share, beating the Zacks Consensus Estimate of $2.38 per share.

Revenue: Net sales in the fiscal fourth quarter were $103.0 million, down 7.5% year over year due to a decline witnessed in the Industrial segment, which was partly offset by a rise in the sales in aerospace and defense segment. Revenue also missed the Zacks Consensus Estimate of $108.0 million by 4.6%. Revenue detail of each segment is discussed below:

Plain Bearings segment revenue (54.2% of fourth quarter total sales) was down 1.5% year over year to $55.8 million. Roller Bearings segment sales (26.7%) dropped 21.8% to $27.5 million. Ball Bearings segment sales (10.9%) were $11.2 million, down 1.6% year over year. Other sales (8.2%) were $8.5 million, up 3.9% year over year.

In fiscal 2013, RBC generated $403.1 million revenue, missing the Zacks Consensus Estimate of $407.0 million by 1.2%.

Costs/Margins: In the reported quarter, RBC Bearing

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