RBC Bearings Fiscal 4Q Profit Up

RBC Bearings Inc., a maker of ball bearings for industrial and military use, said Tuesday its fiscal fourth-quarter profit rose 13 percent on sharp growth in operating margins.

But its sales outlook for the first quarter was below expectations, and its shares fell $6.26, or 15 percent, to $35.99 in heavy morning trading. Over the past 52 weeks, the stock has traded between $19.63 and $42.32.

For the period ended March 31, RBC earned $6.7 million, or 31 cents per share, compared with $6 million, or 33 cents per share, for the same quarter a year ago.

The recent quarter's results were based on about 21.7 million outstanding shares, while the year-ago period's were based on about 17.9 million outstanding shares.

Excluding stock-option expenses, charges related to the consolidation of facilities and the disposal of fixed assets, the company posted an adjusted profit of $10.4 million, or 48 cents per share, compared with an adjusted profit of $6.7 million, or 38 cents per share, in the year-ago period.

Revenue rose 7 percent to $81 million from $75.8 million in the prior-year quarter.Analysts polled by Thomson Financial expected a profit of 41 cents per share on $80.9 million in revenue.

For the full fiscal year, the company posted a profit of $28.5 million, or $1.33 per share, compared with a profit of $10.9 million, or 76 cents per share, for 2006. Revenue rose to $306.1 million from $274.5 million the year before.

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