Regal-Beloit (RBC) Reports In-Line Q4 EPS
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Regal Beloit Corporation Announces Fourth Quarter 2016 Financial Results
February 6, 2017 4:59 PM ESTBELOIT, Wis., Feb. 6, 2017 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC) today reported fourth quarter 2016 diluted earnings per share of $1.01. Fourth quarter 2016 adjusted diluted earnings per share* were $1.04.
Key financial results for the fourth quarter 2016 included:
Total net sales of $758.1 million decreased 2.0% from the prior year and included a negative 0.7% foreign currency translation impact and a negative 0.6% divestiture impact. Income from operations was $70.1 million or 9.2% of net sales and was negatively impacted by a $14.5 million LIFO expense. Effective tax rate was 16.9% driven by a change... More