OXFORD, Conn. (AP) — OXFORD, Conn. (AP) — RBC Bearings Inc. (RBC) on Friday reported fiscal first-quarter net income of $101.5 million.
On a per-share basis, the Oxford, Connecticut-based company said it had profit of $3.20. Earnings, adjusted for one-time gains and costs, were $3.88 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.42 per share.
The maker of bearings and components posted revenue of $519.5 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $508.6 million.
For the current quarter ending in September, RBC Bearings said it expects revenue in the range of $505 million to $515 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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