OXFORD, Conn. (AP) — OXFORD, Conn. (AP) — RBC Bearings Inc. (RBC) on Friday reported fiscal fourth-quarter profit of $49.2 million.
On a per-share basis, the Oxford, Connecticut-based company said it had net income of $1.49. Earnings, adjusted for one-time gains and costs, came to $2.13 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.
The maker of bearings and components posted revenue of $394.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $379.8 million.
For the year, the company reported profit of $166.7 million, or $4.94 per share. Revenue was reported as $1.47 billion.
For the current quarter ending in June, RBC Bearings said it expects revenue in the range of $380 million to $390 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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