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RBC Bearings Inc. (ROLL) filed Quarterly Report for the period ended 2011-12-31.
Rbc Bearings Inc. has a market cap of $1.04 billion; its shares were traded at around $46.89 with a P/E ratio of 25.4 and P/S ratio of 3.1.
This is the annual revenues and earnings per share of ROLL over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ROLL.
Highlight of Business Operations:
Selling, General and Administrative. SG&A expenses increased by $1.7 million, or 12.6%, to $15.0 million for the three month period ended December 31, 2011 compared to $13.3 million for the same period in fiscal 2011. As a percentage of net sales, SG&A was 15.8% for the three month period ended December 31, 2011 compared to 16.4% for the three month period ended January 1, 2011. The increase of $1.7 million was primarily attributable to personnel-related cost increases.Operating income was $18.2 million, or 19.1% of net sales, for the three month period ended December 31, 2011 compared to $12.2 million, or 15.0% of net sales, for the three month period ended January 1, 2011. Operating income for the Plain Bearings segment was $13.0 million for the three month period ended December 31, 2011, or 27.8% of net sales, compared to $9.9 million for the same period last fiscal year, or 24.9% of net sales. Our Roller Bearings segment achieved an operating income for the three month period ended December 31, 2011 of $10.1 million, or 33.1% of net sales, compared to $7.0 million, or 28.0% of net sales, for the three month period ended January 1, 2011. Our Ball Bearings segment reported operating income of $0.9 million, or 9.1% of net sales, for the three month period ended December 31, 2011, compared to operating income of $0.8 million, or 8.8% of net sales, for the same period in fiscal 2011. Our Other segment achieved operating income of $2.1 million, or 27.8% of net sales, for the three month period ended December 31, 2011, compared to $1.4 million, or 20.1% of net sales, for the same period in fiscal 2011.
Selling, General and Administrative. SG&A expenses increased by $6.0 million, or 15.4%, to $44.8 million for the nine month period ended December 31, 2011 compared to $38.8 million for the same period in fiscal 2011. As a percentage of net sales, SG&A was 15.6% for the nine month period ended December 31, 2011 compared to 15.7% for the nine month period ended January 1, 2011. The increase of $6.0 million was primarily attributable to personnel-related cost increases.
Operating income was $53.6 million, or 18.7% of net sales, for the nine month period ended December 31, 2011 compared to $40.1 million, or 16.3% of net sales, for the nine month period ended January 1, 2011. Operating income for the Plain Bearings segment was $40.7 million for the nine month period ended December 31, 2011, or 28.4% of net sales, compared to $33.6 million for the same period last fiscal year, or 27.2% of net sales. Our Roller Bearings segment achieved an operating income for the nine month period ended December 31, 2011 of $28.1 million, or 31.7% of net sales, compared to $20.4 million, or 27.8% of net sales, for the nine month period ended January 1, 2011. Our Ball Bearings segment reported operating income of $2.8 million, or 8.9% of net sales, for the nine month period ended December 31, 2011, compared to operating income of $2.3 million, or 7.4% of net sales, for the same period in fiscal 2011. Our Other segment achieved operating income of $6.0 million, or 25.9% of net sales, for the nine month period ended December 31, 2011, compared to $4.3 million, or 22.2% of net sales, for the same period in fiscal 2011.
In the nine month period ended December 31, 2011, we generated cash of $32.0 million from operating activities compared to $40.4 million for the nine month period ended January 1, 2011. The decrease of $8.4 million was mainly the result of a decrease in net operating assets and liabilities of $19.8 million offset by an increase in net income of $9.5 million and an increase in non-cash charges of $1.9 million. The decrease of $19.8 million in operating assets and liabilities was mainly the result of an investment in inventory and, to a lesser extent, an increase in accounts receivable. The change in inventory ($15.4 million) was necessary to support increased demand evidenced by an increase in backlog across all markets and is therefore realizable. Inventory turnover for the nine month period ended December 31, 2011 increased to 1.9 as compared to 1.6 in the prior year period. The change in accounts receivable ($4.4 million) was mainly a function of the increase in sales as days sales outstanding increased by 1 day to 61 in fiscal 2012 from 60 in fiscal 2011.
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