RBC Bearings (RBC) 10-Q6 Feb 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
Document And Entity Information	Dec. 28, 2013	Jan. 27, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	28-Dec-13	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'ROLL	'
Entity Common Stock, Shares Outstanding	'	23,159,365
Entity Registrant Name	'RBC Bearings INC	'
Entity Central Index Key	'0001324948	'
Current Fiscal Year End Date	'--03-29	'
Entity Filer Category	'Large Accelerated Filer	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
ASSETS	'	'
Cash and cash equivalents	$115,989	$114,480
Short-term investments	2,286	1,298
Accounts receivable, net of allowance for doubtful accounts of $1,058 at December 28, 2013 and $1,719 at March 30, 2013	67,296	68,943
Inventory	198,425	174,585
Deferred income taxes	8,337	9,864
Prepaid expenses and other current assets	10,958	4,351
Total current assets	403,291	373,521
Property, plant and equipment, net	133,795	116,118
Goodwill	43,073	34,713
Intangible assets, net of accumulated amortization of $12,262 at December 28, 2013 and $10,783 at March 30, 2013	14,872	11,158
Other assets	7,994	6,932
Total assets	603,025	542,442
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Accounts payable	26,739	25,259
Accrued expenses and other current liabilities	19,039	20,069
Current portion of long-term debt	1,272	1,240
Total current liabilities	47,050	46,568
Deferred income taxes	5,766	4,236
Long-term debt	9,393	9,060
Other non-current liabilities	23,661	20,383
Total liabilities	85,870	80,247
Stockholders' equity:	'	'
Preferred stock, $.01 par value; authorized shares: 10,000,000 at December 28, 2013 and March 30, 2013; none issued and outstanding	0	0
Common stock, $.01 par value; authorized shares: 60,000,000 at December 28, 2013 and March 30, 2013; issued and outstanding shares: 23,457,828 at December 28, 2013 and 23,277,928 at March 30, 2013	235	233
Additional paid-in capital	243,611	234,151
Accumulated other comprehensive income (loss)	686	-3,469
Retained earnings	283,739	241,734
Treasury stock, at cost, 300,163 shares at December 28, 2013 and 289,234 shares at March 30, 2013	-11,116	-10,454
Total stockholders' equity	517,155	462,195
Total liabilities and stockholders' equity	$603,025	$542,442

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, except Share data, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
Accounts receivable, allowance for doubtful accounts	$1,058	$1,719
Intangible assets, accumulated amortization	$12,262	$10,783
Preferred Stock	'	'
Preferred stock, par value	$0.01	$0.01
Preferred stock, authorized shares	10,000,000	10,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common Stock	'	'
Common stock, par value	$0.01	$0.01
Common stock, authorized shares	60,000,000	60,000,000
Common stock, issued shares	23,457,828	23,277,928
Common stock, outstanding shares	23,457,828	23,277,928
Treasury Stock	'	'
Treasury stock, shares	300,163	289,234

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Net sales	$100,546	$96,336	$305,168	$300,045
Cost of sales	62,050	60,060	185,612	187,796
Gross margin	38,496	36,276	119,556	112,249
Operating expenses:	'	'	'	'
Selling, general and administrative	18,273	16,567	52,397	48,436
Other, net	566	550	3,688	1,465
Total operating expenses	18,839	17,117	56,085	49,901
Operating income	19,657	19,159	63,471	62,348
Interest expense, net	276	281	770	679
Other non-operating (income) expense	43	229	-164	-2,961
Income before income taxes	19,338	18,649	62,865	64,630
Provision for income taxes	6,574	6,540	20,860	18,863
Net income	$12,764	$12,109	$42,005	$45,767
Net income per common share:	'	'	'	'
Basic (in dollars per share)	$0.56	$0.54	$1.84	$2.05
Diluted (in dollars per share)	$0.55	$0.53	$1.81	$2.01
Weighted average common shares:	'	'	'	'
Basic (in shares)	22,908,556	22,538,502	22,841,011	22,286,974
Diluted (in shares)	23,311,397	22,862,347	23,205,716	22,724,286

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Net income	$12,764	$12,109	$42,005	$45,767
Net prior service pension cost and actuarial losses, net of taxes	-230	-194	-689	-583
Change in unrealized loss on investments, net of taxes	111	26	99	21
Foreign currency translation adjustments	1,497	1,498	4,745	-451
Total comprehensive income	$14,142	$13,439	$46,160	$44,754

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012
Cash flows from operating activities:	'	'
Net income	$42,005	$45,767
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	9,930	9,947
Excess tax benefits from stock-based compensation	-1,529	-5,567
Deferred income taxes	3,057	2,455
Amortization of intangible assets	1,378	1,127
Amortization of deferred financing costs	244	244
Stock-based compensation	4,300	4,013
Gain on disposition or sale of assets	-31	-52
Changes in operating assets and liabilities, net of acquisitions:	'	'
Accounts receivable	2,207	10,566
Inventory	-17,475	-13,968
Prepaid expenses and other current assets	-6,744	-5,752
Other non-current assets	-2,388	-1,612
Accounts payable	-553	-685
Accrued expenses and other current liabilities	-536	5,443
Other non-current liabilities	2,100	-2,702
Net cash provided by operating activities	35,965	49,224
Cash flows from investing activities:	'	'
Purchase of property, plant and equipment	-22,622	-30,804
Purchase of short-term investments	-729	-1,210
Acquisition of businesses, net of cash acquired	-17,568	0
Proceeds from sale of assets	100	165
Net cash used in investing activities	-40,819	-31,849
Cash flows from financing activities:	'	'
Exercise of stock options	3,632	15,617
Excess tax benefits from stock-based compensation	1,529	5,567
Repurchase of common stock	-662	-4,180
Proceeds from term loan	0	9,857
Payment of term loan	-250	0
Other, net	-83	-273
Net cash provided by financing activities	4,166	26,588
Effect of exchange rate changes on cash	2,197	-629
Cash and cash equivalents:	'	'
Increase during the period	1,509	43,334
Cash, at beginning of period	114,480	68,621
Cash, at end of period	$115,989	$111,955

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Dec. 28, 2013
Accumulated Other Comprehensive Income Loss [Abstract]	'
Accumulated Other Comprehensive Income (Loss)	'
	1. Accumulated Other Comprehensive Income (Loss)

	The components of comprehensive income (loss) that relate to the Company are net income, valuation of available for sale investments, foreign currency translation adjustments and pension plan and postretirement benefits, all of which are presented in the consolidated statements of stockholders' equity and comprehensive income (loss).

	The following summarizes the activity within each component of accumulated other comprehensive income (loss):

		Currency		Pension and		Investments		Total
		Translation		Postretirement
				Liability
	Balance at March 30, 2013	$	4,116	$	-7,714	$	129	$	-3,469
	Other comprehensive income (loss)		4,745		-996		99		3,848
	before reclassifications
	Amounts reclassified from accumulated		—		-115		—		-115
	other comprehensive income (loss)
	Provision for income taxes related		—		422		—		422
	to other comprehensive income items
	Net current period other		4,745		-689		99		4,155
	comprehensive income (loss)
	Balance at December 28, 2013	$	8,861	$	-8,403	$	228	$	686

Net_Income_Per_Common_Share

Net Income Per Common Share	9 Months Ended
	Dec. 28, 2013
Earnings Per Share [Abstract]	'
Net Income Per Common Share	'
	2. Net Income Per Common Share

	Basic net income per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding.

	Diluted net income per common share is computed by dividing net income by the sum of the weighted-average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options.

	The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share:

		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		December 29,
		2013		2012		2013		2012

	Net income	$	12,764	$	12,109	$	42,005	$	45,767

	Denominator for basic net income per common		22,908,556		22,538,502		22,841,011		22,286,974
	share—weighted-average shares outstanding
	Effect of dilution due to employee stock options		402,841		323,845		364,705		437,312
	Denominator for diluted net income per common		23,311,397		22,862,347		23,205,716		22,724,286
	share — weighted-average shares outstanding

	Basic net income per common share	$	0.56	$	0.54	$	1.84	$	2.05

	Diluted net income per common share	$	0.55	$	0.53	$	1.81	$	2.01

	At December 28, 2013, 193,500 employee stock options and no restricted shares have been excluded from the calculation of diluted earnings per share. At December 29, 2012, 209,500 employee stock options and 300 restricted shares have been excluded from the calculation of diluted earnings per share. The inclusion of these employee stock options and unvested restricted stock shares would be anti-dilutive.

Cash_And_Cash_Equivalents

Cash And Cash Equivalents	9 Months Ended
Cash And Cash Equivalents	Dec. 28, 2013
Cash and Cash Equivalents, at Carrying Value [Abstract]	'
Cash and Cash Equivalents	'
	3. Cash and Cash Equivalents

	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

	Short-term investments are comprised of equity securities and are measured at fair value by using quoted prices in active markets and are classified as Level 1 of the valuation hierarchy.

Inventory

Inventory	9 Months Ended
	Dec. 28, 2013
Inventory, Net [Abstract]	'
Inventory	'
	4. Inventory

	Inventories are stated at the lower of cost or market, using the first-in, first-out method, and are summarized below:

		December 28,		March 30,
		2013		2013
	Raw materials	$	18,404	$	16,966
	Work in process		45,964		41,882
	Finished goods		134,057		115,737
		$	198,425	$	174,585

Intangible_Assets

Intangible Assets	9 Months Ended
Intangible Assets	Dec. 28, 2013
Intangible Assets, Net (Excluding Goodwill) [Abstract]	'
Intangible Assets	'
	5. Intangible Assets

				December 28, 2013				March 30, 2013
			Weighted	Gross		Accumulated		Gross		Accumulated
			Average	Carrying		Amortization		Carrying		Amortization
			Useful	Amount				Amount
			Lives
	Product approvals		15	$	6,246	$	2,986	$	6,077	$	2,607
	Customer relationships and lists		11		8,972		3,856		5,999		3,429
	Trade names		15		2,229		1,187		1,380		1,102
	Distributor agreements		5		722		722		722		722
	Patents and trademarks		15		6,799		2,278		6,168		1,866
	Domain names		10		437		244		437		211
	Other		4		1,729		989		1,158		846
	Total			$	27,134	$	12,262	$	21,941	$	10,783

	Amortization expense for definite-lived intangible assets for the three and nine month periods ended December 28, 2013 was $541 and $1,378, respectively. Amortization expense for definite-lived intangible assets for the three and nine month periods ended December 29, 2012 was $363 and $1,127, respectively. Estimated amortization expense for the remaining three months of fiscal 2014, the five succeeding fiscal years and thereafter is as follows:

	2014	$	641
	2015		1,965
	2016		1,939
	2017		1,828
	2018		1,706
	2019		1,484
	2020 and thereafter		5,309

Debt

Debt	9 Months Ended
	Dec. 28, 2013
Debt Instruments [Abstract]	'
Debt	'
	6. Debt

	The balances payable under all borrowing facilities are as follows:
		December 28,		March 30,
		2013		2013
	Notes payable	$	10,665	$	10,300
	Total debt		10,665		10,300
	Less: current portion		1,272		1,240
	Long-term debt	$	9,393	$	9,060

	On October 1, 2012, Schaublin purchased the land and building, which it occupied and had been leasing, for 14,067 CHF (approximately $14,910). Schaublin obtained a 20 year fixed rate mortgage of 9,300 CHF (approximately $9,857) at an interest rate of 2.9%. The balance of the purchase price of 4,767 CHF (approximately $5,053) was paid from cash on hand. The balance on this mortgage as of December 28, 2013 was 8,835 CHF, or $9,915.

	On November 30, 2010, the Company entered into a new credit agreement (the “JP Morgan Credit Agreement”) and related security and guaranty agreements with certain banks, J.P. Morgan Chase Bank, N.A., as Administrative Agent, and J.P. Morgan Chase Bank, N.A. and KeyBank National Association as Co-Lead Arrangers and Joint Lead Book Runners. The JP Morgan Credit Agreement provides Roller Bearing Company of America, Inc. (“RBCA”), as borrower, with a $150,000 five-year senior secured revolving credit facility which can be increased by up to $100,000, in increments of $25,000, under certain circumstances and subject to certain conditions (including the receipt from one or more lenders of the additional commitment).

	Amounts outstanding under the JP Morgan Credit Agreement generally bear interest at the prime rate or LIBOR plus a specified margin, depending on the type of borrowing being made. The applicable margin is based upon the Company’s consolidated ratio of net debt to adjusted EBITDA, measured at the end of each quarter. As of December 28, 2013, the Company’s margin is 0.5% for prime rate loans and 1.5% for LIBOR rate loans.

	The JP Morgan Credit Agreement requires the Company to comply with various covenants, including among other things, financial covenants to maintain the following: (1) a ratio of consolidated net debt to adjusted EBITDA, not to exceed 3.25 to 1; and (2) a consolidated fixed charge coverage ratio not to exceed 1.5 to 1. The credit agreement allows the Company to, among other things, make distributions to shareholders, repurchase its stock, incur other debt or liens, or acquire or dispose of assets provided that the Company complies with certain requirements and limitations of the agreement. As of December 28, 2013, the Company was in compliance with all such covenants.

	Approximately $4,348 of the JP Morgan Credit Agreement is being utilized to provide letters of credit to secure RBCA’s obligations relating to certain insurance programs. As of December 28, 2013, RBCA had the ability to borrow up to an additional $145,652 under the JP Morgan Credit Agreement.

	On October 27, 2008, Schaublin entered into a new bank credit facility with Credit Suisse (the “Swiss Credit Facility”) which replaced the prior bank credit facility of December 8, 2003 and its amendment of November 8, 2004. This facility provides for up to 4,000 CHF, or $4,489, of revolving credit loans and letters of credit. Borrowings under the Swiss Credit Facility bear interest at Credit Suisse’s prevailing prime bank rate. As of December 28, 2013, there were no borrowings under the Swiss Credit Facility.

Income_Taxes

Income Taxes	9 Months Ended
Income Taxes	Dec. 28, 2013
Income Tax Expenses Benefit [Abstract]	'
Income Taxes	'
	7. Income Taxes

	The Company files income tax returns in the U.S. federal jurisdiction, various states and foreign jurisdictions. With few exceptions, the Company is no longer subject to state or foreign income tax examinations by tax authorities for years ending before April 2, 2005. The Company is no longer subject to U.S. federal corporate income tax examination by the Internal Revenue Service for fiscal years ending before March 31, 2012. A U.S. federal corporate income tax examination by the Internal Revenue Service for the fiscal year ended April 2, 2011 was deemed effectively settled in the Company’s first quarter of the fiscal year ended March 29, 2014 and the statute of limitations expired for the Company’s fiscal year ended April 3, 2010 in the Company’s third quarter of the fiscal year ended March 29, 2014.

	The effective income tax rates for the three month periods ended December 28, 2013 and December 29, 2012, were 34.0% and 35.1%. The effective income tax rates for the nine month periods ended December 28, 2013 and December 29, 2012 were 33.2% and 29.2%, respectively. In addition to discrete items, the effective income tax rates for these periods are different from the U.S. statutory rates due to a special manufacturing deduction in the U.S. and foreign income taxed at lower rates which decrease the rate, and state income taxes which increases the rate.

	The effective income tax rate for the three month period ended December 28, 2013 of 34.0% includes discrete items of $56 which are substantially comprised of the reversal of unrecognized tax benefits associated with the expiration of statutes of limitations as well as the recognition of interest on unrecognized tax positions. The effective income tax rate for the three month period ended December 29, 2012 of 35.1% includes discrete items of $105 which are substantially comprised of the reversal of unrecognized tax benefits associated with the expiration of statutes of limitations along with the recognition of interest on unrecognized tax positions. The effective income tax rate without discrete items for the three month periods ended December 28, 2013 and December 29, 2012 would have been 34.3% and 35.6%, respectively. The Company believes it is reasonably possible that some of its unrecognized tax positions may be effectively settled within the next twelve months due to the closing of audits and the statute of limitations expiring in varying jurisdictions. The decrease, pertaining primarily to credits and state tax, is estimated to be approximately $393.

Reportable_Segments

Reportable Segments	9 Months Ended
Reportable Segments	Dec. 28, 2013
Segment Reporting [Abstract]	'
Reportable Segments	'
	8. Reportable Segments

	The Company operates through operating segments for which separate financial information is available, and for which operating results are evaluated regularly by the Company's chief operating decision maker in determining resource allocation and assessing performance. Those operating segments with similar economic characteristics and that meet all other required criteria, including nature of the products and production processes, distribution patterns and classes of customers, are aggregated as reportable segments. Certain other operating segments that do not exhibit the common attributes mentioned above and do not meet the quantitative thresholds for separate disclosure are combined and disclosed as "Other".

	The Company has four reportable business segments, Plain Bearings, Roller Bearings, Ball Bearings and Other, which are described below. Within the Plain Bearings, Roller Bearings and Ball Bearings reportable segments, the Company has not aggregated any operating segments. Within the Other reportable segment, the Company has aggregated operating segments because they do not meet the quantitative threshold for separate disclosure.

	Plain Bearings. Plain bearings are produced with either self-lubricating or metal-to-metal designs and consists of several sub-classes, including rod end bearings, spherical plain bearings and journal bearings. Unlike ball bearings, which are used in high-speed rotational applications, plain bearings are primarily used to rectify inevitable misalignments in various mechanical components.

	Roller Bearings. Roller bearings are anti-friction bearings that use rollers instead of balls. The Company manufactures four basic types of roller bearings: heavy duty needle roller bearings with inner rings, tapered roller bearings, track rollers and aircraft roller bearings.

	Ball Bearings. The Company manufactures four basic types of ball bearings: high precision aerospace, airframe control, thin section and commercial ball bearings which are used in high-speed rotational applications.

	Other. Other consists of three operating locations that do not fall into the above segmented categories. The Company’s precision machine tool collets provide effective part holding and accurate part location during machining operations. Additionally, the Company provides machining for integrated bearing assemblies and aircraft components for the commercial and defense aerospace markets and tight-tolerance, precision mechanical components for use in the motion control industry.

	Segment performance is evaluated based on segment net sales and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts.

		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		Dectember 29,
		2013		2012		2013		2012
	Net External Sales
	Plain	$	52,991	$	51,497	$	162,909	$	160,166
	Roller		27,284		26,115		85,911		87,564
	Ball		13,054		10,779		33,709		30,146
	Other		7,217		7,945		22,639		22,169
		$	100,546	$	96,336	$	305,168	$	300,045
	Gross Margin
	Plain	$	19,350	$	20,220	$	62,292	$	61,868
	Roller		10,739		10,587		35,981		34,269
	Ball		4,839		1,848		11,884		6,350
	Other		3,568		3,621		9,399		9,762
		$	38,496	$	36,276	$	119,556	$	112,249

	Selling, General & Administrative Expenses
	Plain	$	4,725	$	3,865	$	13,278	$	11,252
	Roller		1,664		1,682		5,171		5,098
	Ball		1,379		729		3,036		2,279
	Other		945		968		3,064		2,754
	Corporate		9,560		9,323		27,848		27,053
		$	18,273	$	16,567	$	52,397	$	48,436

	Operating Income
	Plain	$	14,521	$	16,160	$	48,255	$	49,946
	Roller		9,182		8,826		30,631		28,889
	Ball		3,157		1,083		7,085		3,965
	Other		2,608		2,592		6,465		6,968
	Corporate		-9,811		-9,502		-28,965		-27,420
		$	19,657	$	19,159	$	63,471	$	62,348

	Geographic External Sales
	Domestic	$	84,421	$	82,227	$	257,044	$	258,082
	Foreign		16,125		14,109		48,124		41,963
		$	100,546	$	96,336	$	305,168	$	300,045
	Intersegment Sales
	Plain	$	1,078	$	757	$	2,982	$	2,278
	Roller		4,075		4,372		13,325		13,677
	Ball		481		671		1,391		1,844
	Other		6,351		5,760		19,602		18,340
		$	11,985	$	11,560	$	37,300	$	36,139

	All intersegment sales are eliminated in consolidation.

Restructuring_of_Operations

Restructuring of Operations	9 Months Ended
Restructuring of Operations	Dec. 28, 2013
Restructuring and Related Activities [Abstract]	'
Restructuring of Operations	'
	9. Restructuring of Operations

	In the fourth quarter of fiscal 2013, the Company reached a decision to consolidate and restructure its large bearing manufacturing facilities and capacity. This decision was based on the Company’s intent to better align manufacturing abilities and product development. The consolidation of the Texas facility into the South Carolina operation will strengthen and bring critical engineering and manufacturing mass to the large bearing product line. The consolidation and restructuring includes: (1) consolidation of the machinery and equipment from Texas into South Carolina resulting in a certain portion being impaired and the remaining portion used to service the large bearing product offering; (2) sale or lease of the Texas building; and (3) a reduction in workforce in Texas due to the realignment. The majority of the expense associated with the consolidation and restructuring was incurred in fiscal 2013 with continued effort to sell the equipment and sell or lease the building to be completed in fiscal 2014. As a result, the Company recorded a pre-tax charge of $6,738 under operating expenses in the Other, net category of the income statement for fiscal 2013 associated with this consolidation and restructuring. This charge included $466 in employee related costs, $100 in moving and relocation costs and $6,172 impairment to fair value of certain equipment used in the manufacturing of large bearings. The Company determined that the market approach was the most appropriate method to estimate the fair value for the equipment and building using comparable sales data and actual quotes from potential buyers in the market place. These assets continue to be classified in fixed assets on the December 28, 2013 balance sheet. This analysis of fair value of assets resulted in a $6,172 impairment loss in fiscal 2013 and is attributable to the Ball Bearings segment in which all of these assets reside. The Company incurred period costs of $1,720 in the first nine months of fiscal 2014, bringing the total incurred due to the restructuring and consolidation to $8,458. The Company will continue to incur operational costs such as depreciation, utilities and maintenance until the building is sold or leased.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Dec. 28, 2013
Business Combinations [Abstract]	'
Acquisitions	'
	10. Acquisitions

	On October 7, 2013, the Company acquired the net assets of Turbine Components Inc. (“TCI”) for approximately $3,925. Located in San Diego, California, TCI is an FAA certified aircraft gas turbine repair station and manufacturer of precision components for aerospace markets. TCI’s net sales for the last calendar year were approximately $4,000. The purchase price allocation is as follows: accounts receivable ($585), inventory ($125), fixed assets ($1,231), goodwill ($2,821), intangible assets ($441), other non-current assets ($127), other current liabilities ($641), and noncurrent liabilities ($766). TCI is included in the Plain Bearings segment. In connection with the acquisition the Company agreed to a contract for additional contingent consideration that is dependent on the outcome of future events. The contingent consideration is based on a market valuation formula and will be payable five years from the acquisition date. The current fair value of the contingent consideration is determined to be $766. Proforma net sales and net income inclusive of TCI are not materially different from the amounts reported in the accompanying consolidated statements of operations.

	On August 16, 2013, the Company acquired Climax Metal Products Company (“CMP”) located in Mentor, Ohio for $13,646. The purchase price included $10,672 in cash and $2,974 of debt. CMP is a manufacturer of precision shaft collars, rigid couplings, keyless locking devices, and bearings for the industrial markets. CMP’s net sales for the last calendar year were approximately $14,100. The purchase price allocation is as follows: accounts receivable ($1,206), inventory ($4,509), other current assets ($73), fixed assets ($2,466), goodwill ($5,538), intangible assets ($3,904), other non-current assets ($10), other current liabilities ($2,086), and noncurrent liabilities ($1,974). CMP is included in the Ball Bearings segment. Proforma net sales and net income inclusive of CMP are not materially different from the amounts reported in the accompanying consolidated statements of operations.

	On March 1, 2013, Roller Bearing Company of America, Inc. and RBC Southwest Products, Inc. acquired Western Precision Aero LLC (“WPA”), a manufacturer of precision components and gears for the aerospace and industrial markets located in Garden Grove, California for $2,628. The purchase price included $1,408 in cash and $1,220 of debt. The purchase price allocation is as follows: accounts receivable ($646), inventory ($1,369), other current assets ($66), fixed assets ($1,290), intangible assets ($645), other non-current assets ($24), other current liabilities ($1,085) and a gain on acquisition ($327). The Company believes that it was able to acquire WPA for less than the fair value of its assets because of (i) the Company’s unique position as a market leader in the aerospace and industrial bearing market and (ii) the seller’s distressed operations. This addition expands the Company’s offering to customers and expands its portfolio into the aerospace and industrial markets. WPA is included in the Plain Bearings segment. Proforma net sales and net income inclusive of WPA are not materially different from the amounts reported in the accompanying consolidated statements of operations.

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Dec. 28, 2013
Accumulated Other Comprehensive Income Loss [Abstract]	'
Accumulated Other Comprehensive Income (loss)	'
	The following summarizes the activity within each component of accumulated other comprehensive income (loss):

		Currency		Pension and		Investments		Total
		Translation		Postretirement
				Liability
	Balance at March 30, 2013	$	4,116	$	-7,714	$	129	$	-3,469
	Other comprehensive income (loss)		4,745		-996		99		3,848
	before reclassifications
	Amounts reclassified from accumulated		—		-115		—		-115
	other comprehensive income (loss)
	Provision for income taxes related		—		422		—		422
	to other comprehensive income items
	Net current period other		4,745		-689		99		4,155
	comprehensive income (loss)
	Balance at December 28, 2013	$	8,861	$	-8,403	$	228	$	686

Net_Income_Per_Common_Share_Ta

Net Income Per Common Share (Tables)	9 Months Ended
Net Income Per Common Share (Tables)	Dec. 28, 2013
Earnings Per Share [Abstract]	'
Schedule Of Calculation Of Weighted-Average Shares Outstanding	'
	The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share:

		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		December 29,
		2013		2012		2013		2012

	Net income	$	12,764	$	12,109	$	42,005	$	45,767

	Denominator for basic net income per common		22,908,556		22,538,502		22,841,011		22,286,974
	share—weighted-average shares outstanding		22,908,556		22,538,502		22,841,011		22,286,974
	Effect of dilution due to employee stock options		402,841		323,845		364,705		437,312
	Denominator for diluted net income per common		23,311,397		22,862,347		23,205,716		22,724,286
	share — weighted-average shares outstanding		23,311,397		22,862,347		23,205,716		22,724,286

	Basic net income per common share	$	0.56	$	0.54	$	1.84	$	2.05

	Diluted net income per common share	$	0.55	$	0.53	$	1.81	$	2.01

Inventory_Tables

Inventory (Tables)	9 Months Ended
Inventory (Tables)	Dec. 28, 2013
Inventory, Net [Abstract]	'
Inventory	'
	Inventories are stated at the lower of cost or market, using the first-in, first-out method, and are summarized below:

		December 28,		March 30,
		2013		2013
	Raw materials	$	18,404	$	16,966
	Work in process		45,964		41,882
	Finished goods		134,057		115,737
		$	198,425	$	174,585

Intangible_Assets_Tables

Intangible Assets (Tables)	9 Months Ended
Intangible Assets (Tables)	Dec. 28, 2013
Intangible Assets, Net (Excluding Goodwill) [Abstract]	'
Schedule Of Intangible Assets	'
				December 28, 2013				March 30, 2013
			Weighted	Gross		Accumulated		Gross		Accumulated
			Average	Carrying		Amortization		Carrying		Amortization
			Useful	Amount				Amount
			Lives
	Product approvals		15	$	6,246	$	2,986	$	6,077	$	2,607
	Customer relationships and lists		11		8,972		3,856		5,999		3,429
	Trade names		15		2,229		1,187		1,380		1,102
	Distributor agreements		5		722		722		722		722
	Patents and trademarks		15		6,799		2,278		6,168		1,866
	Domain names		10		437		244		437		211
	Other		4		1,729		989		1,158		846
	Total			$	27,134	$	12,262	$	21,941	$	10,783

Schedule Of Estimated Amortization Expense	'
	Estimated amortization expense for the remaining three months of fiscal 2014, the five succeeding fiscal years and thereafter is as follows:

	2014	$	641
	2015		1,965
	2016		1,939
	2017		1,828
	2018		1,706
	2019		1,484
	2020 and thereafter		5,309

Debt_Tables

Debt (Tables)	9 Months Ended
Debt (Tables)	Dec. 28, 2013
Debt Instruments [Abstract]	'
Schedule Of Balances Payable Under Borrowing Facilities	'
	The balances payable under all borrowing facilities are as follows:
		December 28,		March 30,
		2013		2013
	Notes payable	$	10,665	$	10,300
	Total debt		10,665		10,300
	Less: current portion		1,272		1,240
	Long-term debt	$	9,393	$	9,060

Reportable_Segments_Tables

Reportable Segments (Tables)	9 Months Ended
Reportable Segments (Tables)	Dec. 28, 2013
Segment Reporting [Abstract]	'
Schedule Of Segment Information	'
	Segment performance is evaluated based on segment net sales and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts.

		Three Months Ended				Nine Months Ended
		December 28,		December 29,		December 28,		Dectember 29,
		2013		2012		2013		2012
	Net External Sales
	Plain	$	52,991	$	51,497	$	162,909	$	160,166
	Roller		27,284		26,115		85,911		87,564
	Ball		13,054		10,779		33,709		30,146
	Other		7,217		7,945		22,639		22,169
		$	100,546	$	96,336	$	305,168	$	300,045
	Gross Margin
	Plain	$	19,350	$	20,220	$	62,292	$	61,868
	Roller		10,739		10,587		35,981		34,269
	Ball		4,839		1,848		11,884		6,350
	Other		3,568		3,621		9,399		9,762
		$	38,496	$	36,276	$	119,556	$	112,249

	Selling, General & Administrative Expenses
	Plain	$	4,725	$	3,865	$	13,278	$	11,252
	Roller		1,664		1,682		5,171		5,098
	Ball		1,379		729		3,036		2,279
	Other		945		968		3,064		2,754
	Corporate		9,560		9,323		27,848		27,053
		$	18,273	$	16,567	$	52,397	$	48,436

	Operating Income
	Plain	$	14,521	$	16,160	$	48,255	$	49,946
	Roller		9,182		8,826		30,631		28,889
	Ball		3,157		1,083		7,085		3,965
	Other		2,608		2,592		6,465		6,968
	Corporate		-9,811		-9,502		-28,965		-27,420
		$	19,657	$	19,159	$	63,471	$	62,348

	Geographic External Sales
	Domestic	$	84,421	$	82,227	$	257,044	$	258,082
	Foreign		16,125		14,109		48,124		41,963
		$	100,546	$	96,336	$	305,168	$	300,045
	Intersegment Sales
	Plain	$	1,078	$	757	$	2,982	$	2,278
	Roller		4,075		4,372		13,325		13,677
	Ball		481		671		1,391		1,844
	Other		6,351		5,760		19,602		18,340
		$	11,985	$	11,560	$	37,300	$	36,139

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Balance at March 30, 2013	'	'	$4,116	'
Other comprehensive income (loss) before reclassifications Currency Translation	'	'	4,745	'
Amounts reclassified from accumulated other comprehensive income (loss) Currency Translation	'	'	0	'
Provision for income taxes related to other comprehensive income items Currency Translation	'	'	0	'
Net current period other comprehensive income (loss) Currency Translation	1,497	1,498	4,745	-451
Balance at December 28, 2013	8,861	'	8,861	'
Balance at March 30, 2013	'	'	-7,714	'
Other comprehensive income (loss) before reclassifications Pension and Postretirement Liability	'	'	-996	'
Amounts reclassified from accumulated other comprehensive income (loss) Pension and Postretirement Liability	'	'	-115	'
Provision for income taxes related to other comprehensive income items Pension and Postretirement Liability	'	'	422	'
Net current period other comprehensive income (loss) Pension and Postretirement Liability	'	'	-689	'
Balance at December 28, 2013	-8,403	'	-8,403	'
Balance at March 30, 2013	'	'	129	'
Other comprehensive income (loss) before reclassifications Investments	'	'	99	'
Amounts reclassified from accumulated other comprehensive income (loss) Investments	'	'	0	'
Provision for income taxes related to other comprehensive income items Investments	'	'	0	'
Net current period other comprehensive income (loss) Investments	'	'	99	'
Balance at December 28, 2013	228	'	228	'
Balance at March 30, 2013	'	'	-3,469	'
Other comprehensive income (loss) before reclassifications	'	'	3,848	'
Amounts reclassified from accumulated other comprehensive income (loss)	'	'	-115	'
Provision for income taxes related to other comprehensive income items	'	'	422	'
Net current period other comprehensive income (loss)	'	'	4,155	'
Balance at December 28, 2013	$686	'	$686	'

Net_Income_Per_Common_Share_De

Net Income Per Common Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Net Income Per Common Share [Line Items]	'	'	'	'
Net income	$12,764	$12,109	$42,005	$45,767
Denominator for basic net income per common share-weighted-average shares outstanding	22,908,556	22,538,502	22,841,011	22,286,974
Effect of dilution due to employee stock options	402,841	323,845	364,705	437,312
Denominator for diluted net income per common share-weighted-average shares outstanding	23,311,397	22,862,347	23,205,716	22,724,286
Basic net income per common share	$0.56	$0.54	$1.84	$2.05
Diluted net income per common share	$0.55	$0.53	$1.81	$2.01

Net_Income_Per_Common_Share_De1

Net Income Per Common Share (Details Textual)	9 Months Ended
Net Income Per Common Share (Details Textual)	Dec. 28, 2013	Dec. 29, 2012
Net Income Per Common Share [Line Items]	'	'
Number of employee stock options excluded from the calculation of diluted earnings per share	193,500	209,500
Unvested restricted stock shares	'	300

Inventory_Details

Inventory (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
Inventory [Line Items]	'	'
Raw materials	$18,404	$16,966
Work in process	45,964	41,882
Finished goods	134,057	115,737
Inventory, total	$198,425	$174,585

Intangible_Assets_Details

Intangible Assets (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
Finite-Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	$27,134	$21,941
Accumulated Amortization	12,262	10,783
Product Approvals [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'15 years	'
Gross Carrying Amount	6,246	6,077
Accumulated Amortization	2,986	2,607
Customer Relationships And Lists [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'11 years	'
Gross Carrying Amount	8,972	5,999
Accumulated Amortization	3,856	3,429
Trade Names [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'15 years	'
Gross Carrying Amount	2,229	1,380
Accumulated Amortization	1,187	1,102
Distributor Agreements [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'5 years	'
Gross Carrying Amount	722	722
Accumulated Amortization	722	722
Patents And Trademarks [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'15 years	'
Gross Carrying Amount	6,799	6,168
Accumulated Amortization	2,278	1,866
Domain Names [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'10 years	'
Gross Carrying Amount	437	437
Accumulated Amortization	244	211
Other [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'4 years	'
Gross Carrying Amount	1,729	1,158
Accumulated Amortization	$989	$846

Intangible_Assets_Details_1

Intangible Assets (Details 1) (USD $)	Dec. 28, 2013
In Thousands, unless otherwise specified	Dec. 28, 2013
Finite-Lived Intangible Assets [Line Items]	'
2014	$641
2015	1,965
2016	1,939
2017	1,828
2018	1,706
2019	1,484
2020 and thereafter	$5,309

Intangible_Assets_Details_Text

Intangible Assets (Details Textual) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Finite-Lived Intangible Assets [Line Items]	'	'	'	'
Amortization of intangible assets	$541	$363	$1,378	$1,127

Debt_Details

Debt (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
Short-term Debt [Line Items]	'	'
Notes payable	$10,665	$10,300
Total debt	10,665	10,300
Less: current portion	1,272	1,240
Long-term debt	$9,393	$9,060

Debt_Details_Textual

Debt (Details Textual)

0 Months Ended

1 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Oct. 01, 2012

Dec. 28, 2013

Oct. 01, 2012

Oct. 27, 2008

Dec. 28, 2013

Nov. 30, 2010

Dec. 28, 2013

Fixed Rate Residential Mortgage [Member]

Land and Building [Member]

Credit Suisse Credit Agreement [Member]

JP Morgan Credit Agreement [Member]

RBCA [Member]

Five-Year Senior Secured Revolving Credit Facility [Member]

Prime Rate Loans [Member]

LIBOR Rate Loans [Member]

Maximum [Member]

Minimum [Member]

Schaublin [Member]

USD ($)

CHF

USD ($)

JP Morgan Credit Agreement [Member]

USD ($)

CHF

USD ($)

CHF

USD ($)

CHF

USD ($)

Schedule of Trading Securities and Other Trading Assets [Line Items]

Current borrowing capacity

$4,489

4,000

$150,000

Proceeds from Lines of Credit

100,000

Borrowing capacity incremental value

25,000

Line of credit facility, interest rate

0.50%

1.50%

Consolidated net debt adjusted EBITDA ratio

3.25

Consolidated fixed charge coverage ratio

1.5

Letters of credit, outstanding

4,348

Remaining credit capacity

145,652

Land and building leased

14,910

14,067

Period for fixed rate on mortgage loan

'20 years

Mortgage loan interest rate

2.90%

Cash paid for purchase price

5,053

4,767

Mortgage loan fixed rate

9,857

9,300

Mortgage loan

$9,915

8,835

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Income Tax Contingency [Line Items]	'	'	'	'
Effective income tax rate	34.00%	35.10%	33.20%	29.20%
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations	$56	$105	'	'
Minimum [Member]	'	'	'	'
Income Tax Contingency [Line Items]	'	'	'	'
Income Tax Credits and Adjustments	'	'	393	'
Without Discrete Item [Member]	'	'	'	'
Income Tax Contingency [Line Items]	'	'	'	'
Effective income tax rate	34.30%	35.60%	'	'

Reportable_Segments_Details

Reportable Segments (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	$100,546	$96,336	$305,168	$300,045
Gross Margin	38,496	36,276	119,556	112,249
Selling, General & Administrative Expenses	18,273	16,567	52,397	48,436
Operating Income	19,657	19,159	63,471	62,348
Intersegment Sales	11,985	11,560	37,300	36,139
Plain [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	52,991	51,497	162,909	160,166
Gross Margin	19,350	20,220	62,292	61,868
Selling, General & Administrative Expenses	4,725	3,865	13,278	11,252
Operating Income	14,521	16,160	48,255	49,946
Intersegment Sales	1,078	757	2,982	2,278
Roller [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	27,284	26,115	85,911	87,564
Gross Margin	10,739	10,587	35,981	34,269
Selling, General & Administrative Expenses	1,664	1,682	5,171	5,098
Operating Income	9,182	8,826	30,631	28,889
Intersegment Sales	4,075	4,372	13,325	13,677
Ball [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	13,054	10,779	33,709	30,146
Gross Margin	4,839	1,848	11,884	6,350
Selling, General & Administrative Expenses	1,379	729	3,036	2,279
Operating Income	3,157	1,083	7,085	3,965
Intersegment Sales	481	671	1,391	1,844
Other [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	7,217	7,945	22,639	22,169
Gross Margin	3,568	3,621	9,399	9,762
Selling, General & Administrative Expenses	945	968	3,064	2,754
Operating Income	2,608	2,592	6,465	6,968
Intersegment Sales	6,351	5,760	19,602	18,340
Corporate Segment [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Selling, General & Administrative Expenses	9,560	9,323	27,848	27,053
Operating Income	-9,811	-9,502	-28,965	-27,420
Domestic [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	84,421	82,227	257,044	258,082
Foreign [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	$16,125	$14,109	$48,124	$41,963

Restructuring_of_Operations_De

Restructuring of Operations (Details Textual) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
Operating expenses	'	$6,738
Labor and related expense	'	466
Restructuring charges related to moving expenses	'	100
Asset impairment charges	'	6,172
Restructuring charges related to moving expenses year 2014	1,720	'
Restructuring and related cost expected cost additional period cost year 2014	$8,458	'

Acquisitions_Details_Textual

Acquisitions (Details Textual) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012	Aug. 16, 2013	Mar. 30, 2013	Mar. 01, 2013	Mar. 30, 2013	Oct. 07, 2013
	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012	Climax Metal Products Company [Member]	Climax Metal Products Company [Member]	Western Precision Aero LLC [Member]	Turbine Components Inc [Member]	Turbine Components Inc [Member]
Business acquisition purchases price allocation assets acquired	'	'	'	'	$13,646	'	$2,628	'	'
Cash paid for purchase price	'	'	'	'	10,672	'	1,408	'	'
Business acquisition purchase price allocation notes payable and long term debts	'	'	'	'	2,974	'	1,220	'	'
Revenue, Net, Total	100,546	96,336	305,168	300,045	'	14,100	'	4,000	'
Business acquisition purchase price allocation current assets receivable	'	'	'	'	-1,206	'	-646	'	-585
Business acquisition purchases price allocation current assets inventory	'	'	'	'	-4,509	'	-1,369	'	-125
Business acquisitions purchases price allocation other assets	'	'	'	'	-73	'	-66	'	'
Business acquisition purchases price allocation noncurrent assets	'	'	'	'	-2,466	'	-1,290	'	-1,231
Business acquisition purchases price allocation goodwill	'	'	'	'	-5,538	'	'	'	-2,821
Business acquisition purchases price allocation intangible assets other than goodwill	'	'	'	'	-3,904	'	-645	'	-441
Business acquisition purchases price allocation other noncurrent assets	'	'	'	'	-10	'	-24	'	-127
Business acquisition purchases price allocation current liabilities other liabilities	'	'	'	'	-2,086	'	-1,085	'	-641
Business acquisition purchases price allocation noncurrent liabilities	'	'	'	'	-1,974	'	'	'	-766
Business acquisition purchase price allocation gain on acquisition	'	'	'	'	'	'	-327	'	'
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total	'	'	'	'	'	'	'	'	3,925
Business Combination, Contingent Consideration, Liability	'	'	'	'	'	'	'	'	$766