Regal Beloit narrowed loss in 4Q
Regal Beloit Corporation reported a fourth quarter 2015 diluted loss of $19.3 million, or 43 cents per share.
The results showed an improvement over a loss of $116.5 million, or $2.61 per share, in the previous year's fourth quarter.
Sales of $774 million were relatively flat compared to $776 million in the same period a year ago.
Full-year sales of $3.5 billion were up 7.8 percent from $3.3 billion in 2014. Net income for the year of $143.3 million, or $3.21 per share, compared to $31 million, or 69 cents per share in 2014.
In the fourth quarter, Commercial and Industrial Systems Segment net sales were $371 million, down 18%.
Climate Solutions Segment net sales were $210 million, down 18%.
Power Transmission Solutions Segment net sales increased 182% to $193 million, driven primarily by acquisition growth of $128 million.