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The eBearing News
November 21, 2005
General Bearing Reports Third Quarter 2005 Results
copyright © 2005 eBearing Inc.
General Bearing Corporation (USA; OTC:
GNRL.PK)
reported results for its fiscal third quarter ended October 1, 2005, continuing
its string of increasingly strong results.
Sales in third quarter hit USD $27.6 million, up sharply from $20.8 million in third quarter 2004.
Quarterly net income was up dramatically, reaching $1.8 million, from 2004's $88,000.
In August, General Bearing announced the company was " ... exploring strategic alternatives to create
liquidity for its shareholders."
article: General Bearing seeks possible sale or merger
At the time, CEO David Gussack said, "in pursuit of our continuing goal of creating value for the
shareholders, General Bearing is taking steps to identify strategic options including a possible sale or merger."
In March 2005, citing the high costs of Sarbanes-Oxley compliance, the company filed to deregister
its stock from the NASDAQ as GNRL and settled in the Pink Sheets. However, General continues to
file publicly-available financial reports.
Founded in 1958, General Bearing's domestic offices and manufacturing facilities are in West Nyack, New York.
The company also has controlling interest in four bearing manufacturing operations in China: Shanghai General
Bearing Co., Shanghai Pudong General Bearing Co., Ningbo General Bearing Co., and Jiangsu General
Ball & Roller Co.. The last is China's leading manufacturer of steel balls, under the Li Xing and JGBR brands.
General's product line includes a wide variety of standard and precision ball, tapered roller, spherical
roller and cylindrical roller bearings. The line includes inch and metric sizes, unground ball bearings,
journal boxes, and ball transfers. Primarily operating in the North American OEM automotive, truck, rail
and industrial markets, General also covers the industrial aftermarket. General's bearings are sold
under Hyatt and The General trademarks.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Bruce Carr edited this content.
Copyrighted material; unauthorized reproduction prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2011, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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