BELOIT ó Regal Beloit reported that while its sales
increased during the third quarter by 6 percent, its
Commercial and Industrial Systems Segment net sales were
$427 million, down 10 percent, when compared to the same
period last year due to a weakness in oil and gas and a
slowdown in industrial markets in China. In contrast its
Power Transmission Solutions Segment increased 183
percent, attributable to acquisitions.
The company also
reported that despite these challenges, adjusted
operating profit margin increased 140 basis points to
9.3 percent, due primarily to the simplification
initiative, lower material costs and cost controls.
Regal Beloitís total sales were $882 million in the
adjusted diluted earnings per share were $1.43 during
the third quarter, a 24 percent increase compared to the
third quarter of 2014.
Solutions Segment net sales were $264 million, down 9
percent compared to the third quarter of 2014, but Power
Transmission Solutions Segment net sales increased 183
percent to $191 million, driven primarily by acquisition
growth of $129 million, partially offset by a negative 1
percent foreign currency translation, according to the