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Industrials - Manufacturing - Tools & Accessories - NYSE - US
$ 313.48
0.0032 %
$ 9.85 B
Market Cap
45.7
P/E
1. INTRINSIC VALUE

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.[ Read More ]

The intrinsic value of one RBC stock under the base case scenario is HIDDEN Compared to the current market price of 313 USD, RBC Bearings Incorporated is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart RBC

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FINANCIALS
1.56 B REVENUE
6.19%
342 M OPERATING INCOME
100.15%
210 M NET INCOME
25.91%
275 M OPERATING CASH FLOW
24.52%
-52.2 M INVESTING CASH FLOW
-272.86%
-224 M FINANCING CASH FLOW
30.76%
398 M REVENUE
-2.07%
86.1 M OPERATING INCOME
-12.68%
54.2 M NET INCOME
-11.73%
43 M OPERATING CASH FLOW
-55.85%
-16.2 M INVESTING CASH FLOW
-80.00%
-14.3 M FINANCING CASH FLOW
80.86%
Balance Sheet Decomposition RBC Bearings Incorporated
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Current Assets 966 M
Cash & Short-Term Investments 63.5 M
Receivables 262 M
Other Current Assets 640 M
Non-Current Assets 3.71 B
Long-Term Investments 600 K
PP&E 402 M
Other Non-Current Assets 3.31 B
Current Liabilities 294 M
Accounts Payable 116 M
Short-Term Debt 16.5 M
Other Current Liabilities 162 M
Non-Current Liabilities 1.63 B
Long-Term Debt 1.27 B
Other Non-Current Liabilities 362 M
EFFICIENCY
Earnings Waterfall RBC Bearings Incorporated
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Revenue 1.56 B
Cost Of Revenue 960 M
Gross Profit 600 M
Operating Expenses 329 M
Operating Income 342 M
Other Expenses 132 M
Net Income 210 M
RATIOS
38.46% GROSS MARGIN
38.46%
21.93% OPERATING MARGIN
21.93%
13.45% NET MARGIN
13.45%
7.63% ROE
7.63%
4.49% ROA
4.49%
6.96% ROIC
6.96%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis RBC Bearings Incorporated
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Net Income 210 M
Depreciation & Amortization 119 M
Capital Expenditures -33.2 M
Stock-Based Compensation 17.4 M
Change in Working Capital -72.6 M
Others 16.1 M
Free Cash Flow 242 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets RBC Bearings Incorporated
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Wall Street analysts predict an average 1-year price target for RBC of $294 , with forecasts ranging from a low of $235 to a high of $328 .
RBC Lowest Price Target Wall Street Target
235 USD -25.04%
RBC Average Price Target Wall Street Target
294 USD -6.28%
RBC Highest Price Target Wall Street Target
328 USD 4.63%
4. DIVIDEND ANALYSIS
0.07% DIVIDEND YIELD
0.35 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership RBC Bearings Incorporated
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Sold
0-3 MONTHS
38.9 M USD 6
3-6 MONTHS
1.74 M USD 3
6-9 MONTHS
4.01 M USD 1
9-12 MONTHS
20.7 M USD 8
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
Date Value Insider Amount Avg Price
6 days ago
Nov 11, 2024
Sell 5.61 M USD
BERGERON DANIEL A
Vice President and COO
- 17500
320.6363 USD
1 week ago
Nov 08, 2024
Sell 2.73 M USD
Sullivan Robert M
Vice President and CFO
- 8600
317.3101 USD
1 week ago
Nov 07, 2024
Sell 478 K USD
Feeney John J.
Vice President and Secretary
- 1500
318.43 USD
1 month ago
Sep 20, 2024
Sell 837 K USD
Stewart Edward
Director
- 2800
299.0007 USD
1 month ago
Sep 18, 2024
Sell 145 K USD
HARTNETT MICHAEL J
President and CEO
- 503
289 USD
2 months ago
Sep 17, 2024
Sell 3.48 M USD
HARTNETT MICHAEL J
President and CEO
- 12000
290.41 USD
2 months ago
Sep 16, 2024
Sell 3.26 M USD
HARTNETT MICHAEL J
President and CEO
- 11341
287.5188 USD
2 months ago
Sep 13, 2024
Sell 5.58 M USD
HARTNETT MICHAEL J
President and CEO
- 19283
289.4237 USD
2 months ago
Sep 12, 2024
Sell 8.06 M USD
HARTNETT MICHAEL J
President and CEO
- 28300
284.8912 USD
2 months ago
Sep 11, 2024
Sell 4.26 M USD
HARTNETT MICHAEL J
President and CEO
- 15000
284.1793 USD
2 months ago
Sep 11, 2024
Sell 2.15 M USD
HARTNETT MICHAEL J
President and CEO
- 7560
284.7198 USD
2 months ago
Sep 09, 2024
Sell 853 K USD
HARTNETT MICHAEL J
President and CEO
- 3000
284.23 USD
2 months ago
Aug 30, 2024
Sell 238 K USD
Feeney John J.
Vice President and Secretary
- 801
297 USD
2 months ago
Aug 27, 2024
Sell 1.23 M USD
Edwards Richard J
V.P. and General Manager
- 4200
292.6679 USD
3 months ago
Aug 06, 2024
Sell 832 K USD
Stewart Edward
Director
- 3000
277.242 USD
5 months ago
Jun 11, 2024
Sell 137 K USD
Kaplan Steven H.
Director
- 500
274.6559 USD
5 months ago
Jun 12, 2024
Sell 139 K USD
Kaplan Steven H.
Director
- 500
278.77 USD
5 months ago
Jun 13, 2024
Sell 111 K USD
Kaplan Steven H.
Director
- 400
277.725 USD
5 months ago
Jun 12, 2024
Sell 167 K USD
Ambrose Michael H.
Director
- 600
279.1585 USD
5 months ago
May 21, 2024
Sell 356 K USD
Kaplan Steven H.
Director
- 1200
296.5916 USD
8 months ago
Feb 21, 2024
Sell 4.01 M USD
BERGERON DANIEL A
Vice President and COO
- 15000
267.2171 USD
10 months ago
Jan 02, 2024
Sell 83.3 K USD
Ambrose Michael H.
Director
- 300
277.7973 USD
11 months ago
Dec 08, 2023
Sell 3.86 M USD
HARTNETT MICHAEL J
President and CEO
- 14774
261.5517 USD
11 months ago
Dec 06, 2023
Sell 4.31 M USD
HARTNETT MICHAEL J
President and CEO
- 16530
260.5356 USD
11 months ago
Dec 05, 2023
Sell 3.07 M USD
HARTNETT MICHAEL J
President and CEO
- 11596
264.3828 USD
11 months ago
Dec 07, 2023
Sell 5.05 M USD
HARTNETT MICHAEL J
President and CEO
- 19500
258.9239 USD
11 months ago
Nov 30, 2023
Sell 408 K USD
CROWELL RICHARD R
Director
- 1600
255.1005 USD
11 months ago
Nov 30, 2023
Sell 153 K USD
Ennico Dolores J
Director
- 600
254.6034 USD
11 months ago
Nov 29, 2023
Sell 76.8 K USD
Feeney John J.
Vice President and Secretary
- 300
255.9004 USD
11 months ago
Nov 29, 2023
Sell 204 K USD
Sullivan Robert M
Vice President and CFO
- 800
254.5 USD
11 months ago
Nov 28, 2023
Sell 267 K USD
Kaplan Steven H.
Director
- 1085
245.96 USD
11 months ago
Nov 21, 2023
Sell 72.9 K USD
Feeney John J.
Vice President and Secretary
- 302
241.26 USD
1 year ago
Nov 15, 2023
Sell 3.18 M USD
Bannon Patrick S.
V.P. and General Manager
- 13000
244.273 USD
1 year ago
Sep 15, 2023
Sell 1.18 M USD
Edwards Richard J
V.P. and General Manager
- 4920
239.625 USD
1 year ago
Sep 14, 2023
Sell 211 K USD
Edwards Richard J
V.P. and General Manager
- 880
239.7386 USD
1 year ago
Sep 05, 2023
Sell 239 K USD
Kaplan Steven H.
Director
- 1000
239.4201 USD
1 year ago
Sep 05, 2023
Sell 359 K USD
Kaplan Steven H.
Director
- 1500
239.4401 USD
1 year ago
Sep 05, 2023
Sell 354 K USD
Stewart Edward
Director
- 1500
236.0875 USD
1 year ago
Aug 30, 2023
Sell 456 K USD
Kaplan Steven H.
Director
- 2000
228.1532 USD
1 year ago
Jul 19, 2023
Sell 88 K USD
Ambrose Michael H.
Director
- 400
220 USD
1 year ago
Feb 28, 2023
Sell 471 K USD
Stewart Edward
Director
- 2000
235.3226 USD
1 year ago
Nov 28, 2022
Sell 363 K USD
HARTNETT MICHAEL J
director: President and CEO
- 1500
241.6667 USD
2 years ago
Nov 17, 2022
Sell 235 K USD
Ambrose Michael H.
Director
- 1000
235 USD
2 years ago
Sep 20, 2022
Sell 373 K USD
CROWELL RICHARD R
Director
- 1600
233.2686 USD
2 years ago
Sep 20, 2022
Sell 373 K USD
CROWELL RICHARD R
Director
- 1600
233.2686 USD
2 years ago
Sep 12, 2022
Sell 128 K USD
Kaplan Steven H.
Director
- 500
256.6098 USD
2 years ago
Aug 19, 2022
Sell 3.29 M USD
Edwards Richard J
director: V.P. and General Manager
- 13000
253.1673 USD
2 years ago
Aug 18, 2022
Sell 404 K USD
BERGERON DANIEL A
Vice President and COO
- 1563
258.7352 USD
2 years ago
Aug 18, 2022
Sell 404 K USD
BERGERON DANIEL A
director: Vice President and COO
- 1563
258.7352 USD
2 years ago
Aug 17, 2022
Sell 262 K USD
HARTNETT MICHAEL J
President and CEO
- 1006
260.4482 USD
2 years ago
Aug 18, 2022
Sell 26 K USD
HARTNETT MICHAEL J
President and CEO
- 100
260 USD
2 years ago
Aug 16, 2022
Sell 26 K USD
HARTNETT MICHAEL J
director: President and CEO
- 100
260 USD
2 years ago
Aug 16, 2022
Sell 1.82 M USD
HARTNETT MICHAEL J
President and CEO
- 7000
260.305 USD
2 years ago
Aug 15, 2022
Sell 3.1 M USD
BERGERON DANIEL A
director: Vice President and COO
- 11912
260.5359 USD
2 years ago
Aug 15, 2022
Sell 5.49 M USD
BERGERON DANIEL A
Vice President and COO
- 21165
259.604 USD
2 years ago
Aug 16, 2022
Sell 3.1 M USD
BERGERON DANIEL A
Vice President and COO
- 11912
260.5359 USD
2 years ago
Aug 17, 2022
Sell 1.39 M USD
BERGERON DANIEL A
Vice President and COO
- 5360
260.0133 USD
2 years ago
Aug 10, 2022
Sell 757 K USD
Stewart Edward
Director
- 3000
252.4499 USD
2 years ago
Aug 10, 2022
Sell 757 K USD
Stewart Edward
director:
- 3000
252.4499 USD
2 years ago
Aug 09, 2022
Sell 2.9 M USD
Bannon Patrick S.
director: V.P. and General Manager
- 12000
241.6132 USD
2 years ago
Aug 09, 2022
Sell 2.9 M USD
Bannon Patrick S.
V.P. and General Manager
- 12000
241.6132 USD
2 years ago
Jul 19, 2022
Sell 338 K USD
LEVINE ALAN B
director:
- 1600
211.0001 USD
2 years ago
Jul 12, 2022
Sell 80 K USD
Kaplan Steven H.
director:
- 400
200.0507 USD
2 years ago
Jun 06, 2022
Sell 1.99 M USD
Edwards Richard J
director: V.P. and General Manager
- 10000
199.0682 USD
2 years ago
Apr 13, 2022
Sell 1.14 M USD
Bannon Patrick S.
V.P. and General Manager
- 6306
180.0693 USD
2 years ago
Apr 13, 2022
Sell 1.14 M USD
Bannon Patrick S.
director: V.P. and General Manager
- 6306
180.0693 USD
2 years ago
Feb 17, 2022
Sell 74 K USD
Feeney John J.
Vice President and Secretary
- 400
185 USD
2 years ago
Feb 17, 2022
Sell 74 K USD
Feeney John J.
Vice President and Secretary
- 400
185 USD
2 years ago
Jan 04, 2022
Sell 206 K USD
Stewart Edward
Director
- 1000
205.935 USD
2 years ago
Jan 04, 2022
Sell 206 K USD
Stewart Edward
Director
- 1000
205.935 USD
3 years ago
Aug 04, 2021
Bought 868 K USD
McGinnis Eric S
Segment President*
+ 5600
155 USD
3 years ago
Aug 02, 2021
Sell 868 K USD
McGinnis Eric S
Segment President*
- 5600
155 USD
3 years ago
Jun 24, 2021
Sell 148 K USD
HARTNETT MICHAEL J
President and CEO
- 740
200 USD
3 years ago
Jun 24, 2021
Sell 148 K USD
HARTNETT MICHAEL J
President and CEO
- 740
200 USD
3 years ago
Jun 23, 2021
Sell 1.79 M USD
HARTNETT MICHAEL J
President and CEO
- 9000
199.086 USD
3 years ago
Jun 23, 2021
Sell 1.79 M USD
HARTNETT MICHAEL J
President and CEO
- 9000
199.086 USD
3 years ago
Jun 22, 2021
Sell 1.77 M USD
HARTNETT MICHAEL J
President and CEO
- 9000
197.0212 USD
3 years ago
Jun 22, 2021
Sell 1.77 M USD
HARTNETT MICHAEL J
President and CEO
- 9000
197.0212 USD
3 years ago
Jun 21, 2021
Sell 1.97 M USD
HARTNETT MICHAEL J
President and CEO
- 10000
196.576 USD
3 years ago
Jun 21, 2021
Sell 1.97 M USD
HARTNETT MICHAEL J
President and CEO
- 10000
196.576 USD
3 years ago
Jun 17, 2021
Sell 1.18 M USD
HARTNETT MICHAEL J
President and CEO
- 6000
197.4362 USD
3 years ago
Jun 17, 2021
Sell 1.18 M USD
HARTNETT MICHAEL J
President and CEO
- 6000
197.4362 USD
3 years ago
Jun 16, 2021
Sell 3.24 M USD
HARTNETT MICHAEL J
President and CEO
- 16000
202.5543 USD
3 years ago
Jun 16, 2021
Sell 3.24 M USD
HARTNETT MICHAEL J
President and CEO
- 16000
202.5543 USD
3 years ago
Jun 15, 2021
Sell 2.86 M USD
HARTNETT MICHAEL J
President and CEO
- 14101
202.6535 USD
3 years ago
Jun 15, 2021
Sell 2.86 M USD
HARTNETT MICHAEL J
President and CEO
- 14101
202.6535 USD
3 years ago
Jun 14, 2021
Sell 3.8 M USD
HARTNETT MICHAEL J
President and CEO
- 18900
201.0449 USD
3 years ago
Jun 14, 2021
Sell 3.8 M USD
HARTNETT MICHAEL J
President and CEO
- 18900
201.0449 USD
3 years ago
Jun 11, 2021
Sell 2 M USD
HARTNETT MICHAEL J
President and CEO
- 10000
199.8544 USD
3 years ago
Jun 11, 2021
Sell 2 M USD
HARTNETT MICHAEL J
President and CEO
- 10000
199.8544 USD
3 years ago
Jun 02, 2021
Sell 2.36 M USD
Bannon Patrick S.
V.P. and General Manager
- 12000
196.9065 USD
3 years ago
Jun 02, 2021
Sell 2.36 M USD
Bannon Patrick S.
V.P. and General Manager
- 12000
196.9065 USD
3 years ago
May 27, 2021
Sell 309 K USD
Stewart Edward
Director
- 1600
193.3819 USD
3 years ago
May 27, 2021
Sell 309 K USD
Stewart Edward
Director
- 1600
193.3819 USD
3 years ago
May 27, 2021
Sell 232 K USD
LEVINE ALAN B
Director
- 1200
193.741 USD
3 years ago
May 25, 2021
Sell 709 K USD
Brown Scott Douglas
Segment President*
- 5084
139.5053 USD
3 years ago
May 25, 2021
Sell 562 K USD
CROWELL RICHARD R
Director
- 3000
187.4984 USD
3 years ago
May 25, 2021
Sell 562 K USD
CROWELL RICHARD R
Director
- 3000
187.4984 USD
3 years ago
May 14, 2021
Sell 439 K USD
Kunze John C
Segment President*
- 3000
146.3709 USD
7. News
RBC Bearings' Q2 Earnings & Revenues Miss Estimates, Increase Y/Y RBC's second-quarter fiscal 2025 adjusted earnings increase 5.1% year over year, driven by higher revenues. zacks.com - 1 week ago
RBC Bearings Incorporated (RBC) Q2 2025 Earnings Call Transcript RBC Bearings Incorporated (NYSE:RBC ) Q2 2025 Earnings Call November 1, 2024 11:00 AM ET Company Participants Rob Moffatt - Director, Corporate Development and Investor Relations Michael Hartnett - Chairman, President and Chief Executive Officer Daniel Bergeron - Director, Vice President and Chief Operating Officer Rob Sullivan - Vice President and Chief Financial Officer Conference Call Participants Michael Ciarmoli - Truist Securities Peter Skibitski - Alembic Global Tim Thein - Raymond James Ross Sparenblek - William Blair Ron Epstein - Bank of America Vivek Srivastava - Goldman Sachs Steve Barger - KeyBanc Capital Markets Operator Good morning and thank you for joining us for RBC Bearings' Fiscal Second Quarter 2025 Earnings Call. I am Rob Moffatt, Director of Corporate Development and Investor Relations. seekingalpha.com - 2 weeks ago
RBC Bearings (RBC) Q2 Earnings and Revenues Lag Estimates RBC Bearings (RBC) came out with quarterly earnings of $2.29 per share, missing the Zacks Consensus Estimate of $2.30 per share. This compares to earnings of $2.17 per share a year ago. zacks.com - 2 weeks ago
RBC Bearings Incorporated Announces Fiscal Second Quarter 2025 Results OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (NYSE: RBC), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today reported results for the second quarter of fiscal 2025. Second Quarter Financial Highlights Net sales of $397.9 million increased 3.2% over last year, Aerospace/Defense up 12.5% and Industrial down 1.4%. Gross margin of 43.7% compared to 43.1% last year. Ne. businesswire.com - 2 weeks ago
RBC Bearings Named to Fortune® 100 Fastest-Growing Companies List for 2024 OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (NYSE: RBC), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today announced that it has been named to the Fortune® 100 Fastest-Growing Companies list for 2024. RBC Bearings placed 96th on the list, which ranks companies based on growth in revenue, profits, and stock returns. “We are honored to be included in Fortune's pre. businesswire.com - 2 weeks ago
RBC Bearings (RBC) Reports Next Week: Wall Street Expects Earnings Growth RBC Bearings (RBC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations. zacks.com - 3 weeks ago
RBC Bearings to Webcast Second Quarter Fiscal Year 2025 Earnings Conference Call November 1st OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (NYSE: RBC), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today announced that it will release its second quarter fiscal 2025 financial results before the market opens on Friday, November 1st. RBC Bearings will host a conference call to discuss the results on Friday, November 1st at 11:00 a.m. ET. Dr. Michael J. Hartnet. businesswire.com - 1 month ago
Will RBC Bearings (RBC) Beat Estimates Again in Its Next Earnings Report? RBC Bearings (RBC) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report. zacks.com - 1 month ago
These 2 Industrial Products Stocks Could Beat Earnings: Why They Should Be on Your Radar Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP. zacks.com - 1 month ago
Republican Victory Favored as Most Beneficial for U.S. A survey conducted by RBC Capital Markets analysts indicates that a sweeping victory by the Republican Party, led by Donald Trump, in the upcoming election is perceived to be the most advantageous outcome for the U.S. stock market. The energy and financial sectors are expected to benefit the most from such a result. gurufocus.com - 1 month ago
Frederick J. Elmy Joins RBC Bearings Board of Directors OXFORD, Conn.--(BUSINESS WIRE)--RBC Bearings Incorporated (NYSE: RBC, RBCP), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, today announced that its Board of Directors has elected Frederick J. Elmy as a director of the Company. Mr. Elmy is a Class III director and will serve until the Company's annual meeting of stockholders in 2025. Additionally, the Board of Directors has dete. businesswire.com - 1 month ago
RBC iShares Expands Access to BlackRock's Award-Winning Investment Platform with Active ETFs Leverages full-breadth of BlackRock's alpha-seeking expertise and ETF capabilities to deliver choice, transparency, and flexibility to clients Leverages full-breadth of BlackRock's alpha-seeking expertise and ETF capabilities to deliver choice, transparency, and flexibility to clients globenewswire.com - 1 month ago
8. Profile Summary

RBC Bearings Incorporated RBC

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COUNTRY US
INDUSTRY Manufacturing - Tools & Accessories
MARKET CAP $ 9.85 B
Dividend Yield 0.07%
Description RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications. It also offers mounted bearing products include mounted ball bearings, mounted roller bearings, and mounted plain bearings; and enclosed gearing product lines, including quantis gearmotor, torque arm, tigear, magnagear & maxum, and controlled start transmission. In addition, the company produces power transmission components include mechanical drive components, couplings, and conveyor components; engineered hydraulics and valves for aircraft and submarine applications, and aerospace and defense aftermarket services; fasteners; precision mechanical components, which are used in various general industrial applications; and machine tool collets that are used for holding circulars or rod-like pieces. It serves automotive, tool holding, agricultural and semiconductor machinery, commercial and defense aerospace, ground defense, construction and mining, oil and natural resource extraction, heavy truck, marine, rail and train, packaging, food and beverage, packaging and canning, wind, and general industrial markets through its direct sales force, as well as a network of industrial and aerospace distributors. The company was founded in 1919 and is headquartered in Oxford, Connecticut.
Contact One Tribology Center, Oxford, CT, 06478 https://www.rbcbearings.com
IPO Date Aug. 10, 2005
Employees 5302
Officers Mr. Robert Moffatt Director of Investor Relations Mr. David Gilbert President of Dodge Industrial, Inc. Mr. Daniel A. Bergeron Vice President, Chief Operating Officer & Director Mr. Richard J. Edwards Vice President & GM Matthew J. Tift Corporate Controller Dr. Michael J. Hartnett Ph.D. Chairman, President & Chief Executive Officer