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The eBearing News
November 20, 2000
General Bearing Reports Third Quarter 2000
Results Up Slightly
copyright © 2000 eBearing Inc.
General Bearing Corporation (West Nyack, New York) reported a 1.7% increase
in 3Q200 revenue over 3Q1999, with a 3.2% gross profit increase over 3Q1999.
Sales for 3Q2000 were $14.65 million, up $251,000 over 3Q1999. OEM sales
were up 3.4% to $8.74 million, but Distribution Division sales decreased
5.4% from 3Q1999.
Gross profit rose 3.2% over 3Q1999, to $5.024 million, reflecting a gross
profit margin of 34.3% in 3Q2000 vs. 33.8% for 3Q1999. The company attributed the
improved margins to lowered COGS from efficiency programs, lower cost of direct
materials, and a more favorable product mix.
Total operating income remained the same from 3Q1999 to 3Q2000, at $1.57 million.
Net income for 3Q2000 increased by 7% to $594,000.
The company's joint venture, Jiangsu General Ball & Roller Company, Ltd. contributed
income of $98,000.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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