RBC Bearings’ 3Q Sales Rise 5 percent

RBC Bearings Inc. posted sales of $80.4 million during the third quarter of fiscal 2008, compared with $76.5 million during the same period the prior year.

Quarterly net income for the Oxford, Conn.-based bearings manufacturer rose 2.4 percent to $9.6 million, compared with $9.4 million during the third quarter of fiscal 2007.

"RBC Bearings achieved strong performance this quarter as we continued to experience increased demand from many of our end markets," chairman and CEO Michael Hartnett said. "As we look forward to the end of fiscal 2008, we remain focused on delivering profitable growth and our emphasis on new product innovation and continued process improvement will help us to deliver on both the top and bottom lines."

The company said it expects sales of up to $92 million during the fourth quarter.

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