Regal Beloit Posts Record Sales For 2012
Regal Beloit Corporation Announces Fourth Quarter and Fiscal 2012 Financial Results
- Strong Free Cash Flow in Fourth Quarter and Fiscal 2012
- Fourth Quarter 2012 Diluted Earnings per Share In Line With Guidance
- 2012 Record Sales and Diluted Earnings per Share
BELOIT, WI - Regal Beloit Corporation (NYSE: RBC) today reported financial results for the fourth quarter and fiscal 2012. Net sales for the fourth quarter 2012 were $715.6 million compared to $727.0 million for the fourth quarter of 2011. Diluted earnings per share for the fourth quarter 2012 were $0.70 compared to $0.80 for the fourth quarter of 2011. Net sales for fiscal 2012 were a record $3,166.9 million compared to $2,808.3 million in 2011. Diluted earnings per share for fiscal 2012 were a record $4.64 compared to $3.79 in 2011.
“2012 was a record year for Regal in revenues and earnings,” commented Mark Gliebe, Chairman and Chief Executive Officer. “As anticipated, the fourth quarter sales environment was challenging. However, our team delivered and we achieved results consistent with our most recent guidance. Our residential HVAC business was up slightly and we experienced strong growth at Unico while sales in most of our other businesses around the world slowed in the fourth quarter. We continued our progress in achieving synergy savings, and we delivered another quarter of strong free cash flow of 175% of net income.”
For the full earnings statement, please click here.