OXFORD, Conn. (AP) — OXFORD, Conn. (AP) — RBC Bearings Inc. (RBC) on Friday reported fiscal first-quarter earnings of $61.4 million.
The Oxford, Connecticut-based company said it had net income of $1.90 per share. Earnings, adjusted for amortization costs and stock option expense, came to $2.54 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.37 per share.
The maker of bearings and components posted revenue of $406.3 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $417.1 million.
For the current quarter ending in September, RBC Bearings said it expects revenue in the range of $395 million to $405 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RBC at https://www.zacks.com/ap/RBC
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