OXFORD, Conn. (AP) — OXFORD, Conn. (AP) — RBC Bearings Inc. (RBC) on Friday reported fiscal fourth-quarter net income of $72.7 million.
On a per-share basis, the Oxford, Connecticut-based company said it had profit of $2.30. Earnings, adjusted for one-time gains and costs, came to $2.83 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.68 per share.
The maker of bearings and components posted revenue of $437.7 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $440.8 million.
For the year, the company reported profit of $246.2 million, or $7.70 per share. Revenue was reported as $1.64 billion.
For the current quarter ending in June, RBC Bearings said it expects revenue in the range of $424 million to $434 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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