REGAL-BELOIT SHOWS BIG PROFIT
Monday, May 1st, 2006 -- 2:45 PM
The parent company of a major Neillsville employer had a very good first quarter.Regal-Beloit Corp., parent company of Leeson Electric, nearly doubled its net income for the first quarter, thanks to increased demand for industrial motors, generators and other equipment made by the Beloit-based company.
Regal-Beloit posted net income of $23.8 million, or 72 cents a share, up from $12.3 million, or 41 cents, for the comparable period of 2005. That beat the average estimate of 66 cents a share based on the average estimate of five analysts surveyed by Zacks Investment Research in Chicago.
Revenue was $398.3 million, a 17.9% increase over $337.8 million.
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