RBC Bearings (ROLL) Tops Q4 EPS by 1c

RBC Bearings (NASDAQ: ROLL) reported Q4 EPS of $0.73, $0.01 better than the analyst estimate of $0.72. Revenue for the quarter came in at $113.4 million versus the consensus estimate of $113.69 million.

Foreign Exchange Translation Impact

On January 15, 2015, the Swiss National Bank, removed its three-year-old foreign exchange cap of Swiss Franc 1.20 against the Euro. The exchange rate at the end of March was approximately 1.02. This change in rates has impacted the translation and re-measurement of the financial statements of our Swiss company, Schaublin S.A. Schaublin S.A. had approximately 16.0 million Euro deposits on their balance sheet. When these Euro deposits are re-measured to the functional currency Swiss Francs, the change in exchange rate is reflected in the income statement in Other Non-Operating Expense. Based on the exchange rate at the end of March, the income statement had a negative impact of approximately $2.5 million after tax on the consolidated income statement in the fourth quarter.

For earnings history and earnings-related data on RBC Bearings (ROLL) click here.

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