RBC Bearings (RBC) 10-Q 7 Aug 14 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Jun. 28, 2014	Jul. 25, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	28-Jun-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'
Entity Registrant Name	'RBC Bearings INC	'
Entity Central Index Key	'0001324948	'
Current Fiscal Year End Date	'--03-28	'
Entity Filer Category	'Large Accelerated Filer	'
Trading Symbol	'ROLL	'
Entity Common Stock, Shares Outstanding	'	23,445,633

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 28, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$102,154	$121,207
Short-term investments	2,383	2,419
Accounts receivable, net of allowance for doubtful accounts of $1,013 at June 28, 2014 and $1,060 at March 29, 2014	73,082	75,642
Inventory	201,362	198,021
Deferred income taxes	12,542	12,611
Prepaid expenses and other current assets	5,729	7,645
Total current assets	397,252	417,545
Property, plant and equipment, net	136,940	137,154
Goodwill	43,452	43,452
Intangible assets, net of accumulated amortization of $13,353 at June 28, 2014 and $12,821 at March 29, 2014	14,376	14,617
Other assets	8,493	8,225
Total assets	600,513	620,993
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Accounts payable	23,508	24,326
Accrued expenses and other current liabilities	22,716	17,220
Current portion of long-term debt	1,271	1,274
Total current liabilities	47,495	42,820
Deferred income taxes	9,894	9,779
Long-term debt, less current portion	8,987	9,173
Other non-current liabilities	20,587	20,769
Total liabilities	86,963	82,541
Stockholders' equity:	'	'
Preferred stock, $.01 par value; authorized shares: 10,000,000 at June 28, 2014 and March 29, 2014; none issued and outstanding	0	0
Common stock, $.01 par value; authorized shares: 60,000,000 at June 28, 2014 and March 29, 2014; issued and outstanding shares: 23,684,564 at June 28, 2014 and 23,524,028 at March 29, 2014	237	235
Additional paid-in capital	252,738	246,152
Accumulated other comprehensive income (loss)	1,817	2,365
Retained earnings	271,948	301,942
Treasury stock, at cost, 333,622 shares at June 28, 2014 and 317,817 shares at March 29, 2014	-13,190	-12,242
Total stockholders' equity	513,550	538,452
Total liabilities and stockholders' equity	$600,513	$620,993

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 28, 2014	Mar. 29, 2014
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowance for doubtful accounts	$1,013	$1,060
Intangible assets, accumulated amortization	$13,353	$12,821
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	23,684,564	23,524,028
Common stock, outstanding shares	23,684,564	23,524,028
Treasury Stock	'	'
Treasury stock, shares	333,622	317,817

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Net sales	$112,984	$102,668
Cost of sales	69,163	62,199
Gross margin	43,821	40,469
Operating expenses:	'	'
Selling, general and administrative	18,996	16,984
Other, net	614	1,187
Total operating expenses	19,610	18,171
Operating income	24,211	22,298
Interest expense, net	224	241
Other non-operating (income) expense	-267	-192
Income before income taxes	24,254	22,249
Provision for income taxes	8,234	7,133
Net income	$16,020	$15,116
Net income per common share:	'	'
Basic	$0.70	$0.66
Diluted	$0.69	$0.65
Weighted average common shares:	'	'
Basic	23,005,437	22,786,979
Diluted	23,364,455	23,101,243
Dividends per share	$2	$0

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Net income	$16,020	$15,116
Pension and postretirement liability adjustments, net of taxes	199	-229
Unrealized gain (loss) on investments, net of taxes	72	-46
Foreign currency translation adjustments	-819	778
Total comprehensive income	$15,472	$15,619

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Cash flows from operating activities:	'	'
Net income	$16,020	$15,116
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	3,561	3,342
Excess tax benefits from stock-based compensation	-2,444	-411
Deferred income taxes	185	-982
Amortization of intangible assets	497	393
Amortization of deferred financing costs	81	81
Stock-based compensation	1,767	1,220
Gain on disposition or sale of assets	-1	-18
Changes in operating assets and liabilities, net of acquisitions:	'	'
Accounts receivable	2,500	212
Inventory	-3,139	-5,972
Prepaid expenses and other current assets	1,857	-354
Other non-current assets	-794	-100
Accounts payable	-804	-1,779
Accrued expenses and other current liabilities	8,005	6,651
Other non-current liabilities	-370	-18
Net cash provided by operating activities	26,921	17,381
Cash flows from investing activities:	'	'
Purchase of property, plant and equipment	-3,488	-5,801
Purchase of short-term investments	0	-729
Proceeds from sale of assets	3	29
Net cash used in investing activities	-3,485	-6,501
Cash flows from financing activities:	'	'
Exercise of stock options	2,377	357
Excess tax benefits from stock-based compensation	2,444	411
Repurchase of common stock	-948	-109
Payment of term loan	-132	-123
Dividends paid to shareholders	-46,014	0
Other, net	-10	-29
Net cash (used in) provided by financing activities	-42,283	507
Effect of exchange rate changes on cash	-206	214
Cash and cash equivalents:	'	'
(Decrease) increase during the period	-19,053	11,601
Cash, at beginning of period	121,207	114,480
Cash, at end of period	$102,154	$126,081

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Jun. 28, 2014
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 29, 2014	$	8,837	$	-6,732	$	260	$	2,365
	Other comprehensive income (loss) before reclassifications (net of taxes)		-819		203		72		-544
	Amounts reclassified from accumulated other comprehensive income (loss)		—		-4		—		-4
	Net current period other comprehensive income (loss)		-819		199		72		-548
	Balance at June 28, 2014	$	8,018	$	-6,533	$	332	$	1,817

Net_Income_Per_Common_Share

Net Income Per Common Share	3 Months Ended
	Jun. 28, 2014
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
		June 28,		June 29,
		2014		2013
	Net income	$	16,020	$	15,116
	Denominator for basic net income per common share—weighted-average shares outstanding		23,005,437		22,786,979
	Effect of dilution due to employee stock options		359,018		314,264
	Denominator for diluted net income per common share — weighted-average shares outstanding		23,364,455		23,101,243
	Basic net income per common share	$	0.7	$	0.66
	Diluted net income per common share	$	0.69	$	0.65
	At June 28, 2014, 227,500 employee stock options and no restricted shares have been excluded from the calculation of diluted earnings per share. At June 29, 2013, 394,300 employee stock options and 52,000 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	3 Months Ended
	Jun. 28, 2014
Cash and Cash Equivalents [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	3 Months Ended
	Jun. 28, 2014
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:
		June 28,		March 29,
		2014		2014
	Raw materials	$	18,678	$	18,001
	Work in process		46,103		46,134
	Finished goods		136,581		133,886
		$	201,362	$	198,021

Intangible_Assets

Intangible Assets	3 Months Ended
	Jun. 28, 2014
Intangible Assets, Net (Excluding Goodwill) [Abstract]	'
Intangible Assets	'
	5. Intangible Assets
		Weighted		June 28, 2014				March 29, 2014
		Average		Gross		Accumulated		Gross		Accumulated
		Useful		Carrying		Amortization		Carrying		Amortization
		Lives		Amount				Amount
	Product approvals		15	$	6,319	$	3,229	$	6,266	$	3,099
	Customer relationships and lists		13		9,426		4,191		9,417		4,018
	Trade names		13		2,233		1,289		2,230		1,237
	Distributor agreements		5		722		722		722		722
	Patents and trademarks		15		7,301		2,571		7,077		2,422
	Domain names		10		437		266		437		255
	Other		4		1,291		1,085		1,289		1,068
	Total			$	27,729	$	13,353	$	27,438	$	12,821
	Amortization expense for definite-lived intangible assets for the three month periods ended June 28, 2014 and June 29, 2013 was $497 and $393, respectively. Estimated amortization expense for the remaining nine months of fiscal 2015, the five succeeding fiscal years and thereafter is as follows:
	2015	$	1,474
	2016		2,008
	2017		1,898
	2018		1,775
	2019		1,552
	2020		1,742
	2021 and thereafter		3,927

Debt

Debt	3 Months Ended
	Jun. 28, 2014
Debt Instruments [Abstract]	'
Debt	'
	6.  Debt
	The balances payable under all borrowing facilities are as follows:
		June 28,		March 29,
		2014		2014
	Notes payable	$	10,258	$	10,447
	Total debt		10,258		10,447
	Less: current portion		1,271		1,274
	Long-term debt	$	8,987	$	9,173
	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 June 28, 2014 was 8,486 CHF, or $9,508.
	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 June 28, 2014, 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 June 28, 2014, the Company was in compliance with all such covenants.
	Approximately $4,908 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 June 28, 2014, RBCA had the ability to borrow up to an additional $145,092 under the JP Morgan Credit Agreement.

Income_Taxes

Income Taxes	3 Months Ended
	Jun. 28, 2014
Income Tax Disclosure [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 1, 2006. 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. An Internal Revenue Service examination for the Company’s fiscal year ended March 30, 2013 will commence in the Company’s second quarter of fiscal 2015; there is no defined conclusion date.
	The effective income tax rates for the three month periods ended June 28, 2014 and June 29, 2013, were 34.0% and 32.1%. 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 June 29, 2013 of 32.1% includes discrete items of $382 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 period ended June 29, 2013 would have been 33.8%. 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 $388.

Reportable_Segments

Reportable Segments	3 Months Ended
	Jun. 28, 2014
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
		June 28,		June 29,
		2014		2013
	Net External Sales
	Plain	$	59,873	$	57,090
	Roller		31,765		28,350
	Ball		13,545		9,455
	Other		7,801		7,773
		$	112,984	$	102,668
	Gross Margin
	Plain	$	22,467	$	22,234
	Roller		12,791		12,299
	Ball		5,427		3,008
	Other		3,136		2,928
		$	43,821	$	40,469
	Selling, General & Administrative Expenses
	Plain	$	4,762	$	4,349
	Roller		1,685		1,716
	Ball		1,328		652
	Other		980		1,056
	Corporate		10,241		9,211
		$	18,996	$	16,984
	Operating Income
	Plain	$	17,553	$	17,603
	Roller		10,952		10,503
	Ball		3,953		1,663
	Other		2,125		2,010
	Corporate		-10,372		-9,481
		$	24,211	$	22,298
	Geographic External Sales
	Domestic	$	95,046	$	86,133
	Foreign		17,938		16,535
		$	112,984	$	102,668
	Intersegment Sales
	Plain	$	979	$	924
	Roller		4,983		4,873
	Ball		552		325
	Other		7,188		6,563
		$	13,702	$	12,685
	All intersegment sales are eliminated in consolidation.

Restructuring_of_Operations

Restructuring of Operations	3 Months Ended
	Jun. 28, 2014
Restructuring and Related Activities [Abstract]	'
Restructuring of Operations	'
	9.  Restructuring of Operations
	In the fourth quarter of fiscal 2013, the Company consolidated its Texas facility into the South Carolina operation in order to strengthen and bring critical engineering and manufacturing mass to the large bearing product line. As a result, the Company recorded a pre-tax charge of $1,787 in fiscal 2014 and $6,738 in fiscal 2013 under operating expenses in the Other, net category of the income statement associated with this consolidation and restructuring. The Company leased the building in July 2014.

Acquisitions

Acquisitions	3 Months Ended
	Jun. 28, 2014
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). The purchase price allocation, which resulted in goodwill of $2,821, is deductible for tax purposes. 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 ($5,623), intangible assets ($3,904), other non-current assets ($10), other current liabilities ($2,171), and noncurrent liabilities ($1,974). The purchase price allocation, which resulted in goodwill of $5,623, is not deductible for tax purposes. 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, RBCA and SWP 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.

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Jun. 28, 2014
Accumulated Other Comprehensive Income Loss [Abstract]	'
Schedule Of 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 29, 2014	$	8,837	$	-6,732	$	260	$	2,365
	Other comprehensive income (loss) before reclassifications (net of taxes)		-819		203		72		-544
	Amounts reclassified from accumulated other comprehensive income (loss)		—		-4		—		-4
	Net current period other comprehensive income (loss)		-819		199		72		-548
	Balance at June 28, 2014	$	8,018	$	-6,533	$	332	$	1,817

Net_Income_Per_Common_Share_Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Jun. 28, 2014
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
		June 28,		June 29,
		2014		2013
	Net income	$	16,020	$	15,116
	Denominator for basic net income per common share—weighted-average shares outstanding		23,005,437		22,786,979
	Effect of dilution due to employee stock options		359,018		314,264
	Denominator for diluted net income per common share — weighted-average shares outstanding		23,364,455		23,101,243
	Basic net income per common share	$	0.7	$	0.66
	Diluted net income per common share	$	0.69	$	0.65

Inventory_Tables

Inventory (Tables)	3 Months Ended
	Jun. 28, 2014
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:
		June 28,		March 29,
		2014		2014
	Raw materials	$	18,678	$	18,001
	Work in process		46,103		46,134
	Finished goods		136,581		133,886
		$	201,362	$	198,021

Intangible_Assets_Tables

Intangible Assets (Tables)	3 Months Ended
	Jun. 28, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule Of Intangible Assets	'
		Weighted		June 28, 2014				March 29, 2014
		Average		Gross		Accumulated		Gross		Accumulated
		Useful		Carrying		Amortization		Carrying		Amortization
		Lives		Amount				Amount
	Product approvals		15	$	6,319	$	3,229	$	6,266	$	3,099
	Customer relationships and lists		13		9,426		4,191		9,417		4,018
	Trade names		13		2,233		1,289		2,230		1,237
	Distributor agreements		5		722		722		722		722
	Patents and trademarks		15		7,301		2,571		7,077		2,422
	Domain names		10		437		266		437		255
	Other		4		1,291		1,085		1,289		1,068
	Total			$	27,729	$	13,353	$	27,438	$	12,821
Schedule Of Estimated Amortization Expense	'
	Estimated amortization expense for the remaining nine months of fiscal 2015, the five succeeding fiscal years and thereafter is as follows:
	2015	$	1,474
	2016		2,008
	2017		1,898
	2018		1,775
	2019		1,552
	2020		1,742
	2021 and thereafter		3,927

Debt_Tables

Debt (Tables)	3 Months Ended
	Jun. 28, 2014
Debt Instruments [Abstract]	'
Schedule Of Balances Payable Under Borrowing Facilities	'
	The balances payable under all borrowing facilities are as follows:
		June 28,		March 29,
		2014		2014
	Notes payable	$	10,258	$	10,447
	Total debt		10,258		10,447
	Less: current portion		1,271		1,274
	Long-term debt	$	8,987	$	9,173

Reportable_Segments_Tables

Reportable Segments (Tables)	3 Months Ended
	Jun. 28, 2014
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
		June 28,		June 29,
		2014		2013
	Net External Sales
	Plain	$	59,873	$	57,090
	Roller		31,765		28,350
	Ball		13,545		9,455
	Other		7,801		7,773
		$	112,984	$	102,668
	Gross Margin
	Plain	$	22,467	$	22,234
	Roller		12,791		12,299
	Ball		5,427		3,008
	Other		3,136		2,928
		$	43,821	$	40,469
	Selling, General & Administrative Expenses
	Plain	$	4,762	$	4,349
	Roller		1,685		1,716
	Ball		1,328		652
	Other		980		1,056
	Corporate		10,241		9,211
		$	18,996	$	16,984
	Operating Income
	Plain	$	17,553	$	17,603
	Roller		10,952		10,503
	Ball		3,953		1,663
	Other		2,125		2,010
	Corporate		-10,372		-9,481
		$	24,211	$	22,298
	Geographic External Sales
	Domestic	$	95,046	$	86,133
	Foreign		17,938		16,535
		$	112,984	$	102,668
	Intersegment Sales
	Plain	$	979	$	924
	Roller		4,983		4,873
	Ball		552		325
	Other		7,188		6,563
		$	13,702	$	12,685

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Balance at March 29, 2014	$8,837	'
Other comprehensive income (loss) before reclassifications (net of taxes) Currency Translation	-819	'
Amounts reclassified from accumulated other comprehensive income (loss) Currency Translation	0	'
Net current period other comprehensive income (loss) Currency Translation	-819	778
Balance at June 28, 2014	8,018	'
Balance at March 29, 2014	-6,732	'
Other comprehensive income (loss) before reclassifications (net of taxes) Pension and Postretirement Liability	203	'
Amounts reclassified from accumulated other comprehensive income (loss) Pension and Postretirement Liability	-4	'
Net current period other comprehensive income (loss) Pension and Postretirement Liability	199	-229
Balance at June 28, 2014	-6,533	'
Balance at March 29, 2014	260	'
Other comprehensive income (loss) before reclassifications (net of taxes) Investments	72	'
Amounts reclassified from accumulated other comprehensive income (loss) Investments	0	'
Net current period other comprehensive income (loss) Investments	72	'
Balance at June 28, 2014	332	'
Balance at March 29, 2014	2,365	'
Other comprehensive income (loss) before reclassifications (net of taxes)	-544	'
Amounts reclassified from accumulated other comprehensive income (loss)	-4	'
Net current period other comprehensive income (loss)	-548	'
Balance at June 28, 2014	$1,817	'

Net_Income_Per_Common_Share_De

Net Income Per Common Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Net Income Loss Per Common Share [Line Items]	'	'
Net income	$16,020	$15,116
Denominator for basic net income per common shareBweighted-average shares outstanding	23,005,437	22,786,979
Effect of dilution due to employee stock options	359,018	314,264
Denominator for diluted net income per common share B weighted-average shares outstanding	23,364,455	23,101,243
Basic net income per common share	$0.70	$0.66
Diluted net income per common share	$0.69	$0.65

Net_Income_Per_Common_Share_De1

Net Income Per Common Share (Details Textual)	3 Months Ended
	Jun. 28, 2014	Jun. 29, 2013
Net Income Loss Per Common Share [Line Items]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	227,500	394,300
Unvested restricted stock shares	0	52,000

Inventory_Details

Inventory (Details) (USD $)	Jun. 28, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Raw materials	$18,678	$18,001
Work in process	46,103	46,134
Finished goods	136,581	133,886
Inventory, total	$201,362	$198,021

Intangible_Assets_Details

Intangible Assets (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Mar. 29, 2014
Finite-Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	$27,729	$27,438
Accumulated Amortization	13,353	12,821
Product approvals [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'15 years	'
Gross Carrying Amount	6,319	6,266
Accumulated Amortization	3,229	3,099
Customer relationships and lists [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'13 years	'
Gross Carrying Amount	9,426	9,417
Accumulated Amortization	4,191	4,018
Trade names [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'13 years	'
Gross Carrying Amount	2,233	2,230
Accumulated Amortization	1,289	1,237
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	7,301	7,077
Accumulated Amortization	2,571	2,422
Domain names [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'10 years	'
Gross Carrying Amount	437	437
Accumulated Amortization	266	255
Other [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'4 years	'
Gross Carrying Amount	1,291	1,289
Accumulated Amortization	$1,085	$1,068

Intangible_Assets_Details_1

Intangible Assets (Details 1) (USD $)	Jun. 28, 2014
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]	'
2015	$1,474
2016	2,008
2017	1,898
2018	1,775
2019	1,552
2020	1,742
2021 and thereafter	$3,927

Intangible_Assets_Details_Text

Intangible Assets (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Finite-Lived Intangible Assets [Line Items]	'	'
Amortization of intangible assets	$497	$393

Debt_Details

Debt (Details) (USD $)	Jun. 28, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Short-term Debt [Line Items]	'	'
Notes payable	$10,258	$10,447
Total debt	10,258	10,447
Less: current portion	1,271	1,274
Long-term debt	$8,987	$9,173

Debt_Details_Textual

Debt (Details Textual)

0 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Oct. 01, 2012

Oct. 01, 2012

Jun. 28, 2014

Jun. 28, 2014

Oct. 01, 2012

Oct. 01, 2012

Jun. 28, 2014

Jun. 28, 2014

Nov. 30, 2010

Jun. 28, 2014

Jun. 28, 2014

Jun. 28, 2014

Jun. 28, 2014

Fixed Rate Residential Mortgage [Member]

Fixed Rate Residential Mortgage [Member]

Fixed Rate Residential Mortgage [Member]

Fixed Rate Residential Mortgage [Member]

Land and Building [Member]

Land and Building [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]

Schaublin [Member]

Schaublin [Member]

Schaublin [Member]

Schaublin [Member]

Schaublin [Member]

USD ($)

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

'

'

'

'

'

'

'

'

$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

1

Consolidated fixed charge coverage ratio

'

'

'

'

'

'

'

'

'

'

'

1.5

1

Letters of credit, outstanding

'

'

'

'

'

'

'

4,908

'

'

'

'

'

Remaining credit capacity

'

'

'

'

'

'

145,092

'

'

'

'

'

'

Land and building leased

'

'

'

'

14,910

14,067

'

'

'

'

'

'

'

Period for fixed rate on mortgage loan

'

'

'

'

'20 years

'20 years

'

'

'

'

'

'

'

Mortgage loan interest rate

2.90%

2.90%

'

'

'

'

'

'

'

'

'

'

'

Cash paid for purchase price

5,053

4,767

'

'

'

'

'

'

'

'

'

'

'

Mortgage loan fixed rate

9,857

9,300

'

'

'

'

'

'

'

'

'

'

'

Mortgage loan

'

'

$9,508

8,486

'

'

'

'

'

'

'

'

'

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Income Tax Contingency [Line Items]	'	'
Effective income tax rate	34.00%	32.10%
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations	'	$382
Minimum [Member]	'	'
Income Tax Contingency [Line Items]	'	'
Estimated decrease in credits and state tax	388	'
Without Discrete Item [Member]	'	'
Income Tax Contingency [Line Items]	'	'
Effective income tax rate	'	33.80%

Reportable_Segments_Details

Reportable Segments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Segment Reporting Information [Line Items]	'	'
Net External Sales	$112,984	$102,668
Gross Margin	43,821	40,469
Selling, General & Administrative Expenses	18,996	16,984
Operating Income	24,211	22,298
Geographic External Sales	112,984	102,668
Intersegment Sales	13,702	12,685
Plain [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Net External Sales	59,873	57,090
Gross Margin	22,467	22,234
Selling, General & Administrative Expenses	4,762	4,349
Operating Income	17,553	17,603
Intersegment Sales	979	924
Roller [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Net External Sales	31,765	28,350
Gross Margin	12,791	12,299
Selling, General & Administrative Expenses	1,685	1,716
Operating Income	10,952	10,503
Intersegment Sales	4,983	4,873
Ball [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Net External Sales	13,545	9,455
Gross Margin	5,427	3,008
Selling, General & Administrative Expenses	1,328	652
Operating Income	3,953	1,663
Intersegment Sales	552	325
Other [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Net External Sales	7,801	7,773
Gross Margin	3,136	2,928
Selling, General & Administrative Expenses	980	1,056
Operating Income	2,125	2,010
Intersegment Sales	7,188	6,563
Corporate [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Selling, General & Administrative Expenses	10,241	9,211
Operating Income	-10,372	-9,481
Domestic [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Geographic External Sales	95,046	86,133
Foreign [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Geographic External Sales	$17,938	$16,535

Restructuring_of_Operations_De

Restructuring of Operations (Details Textual) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Mar. 29, 2014	Mar. 30, 2013
Restructuring Charges	$1,787	$6,738

Acquisitions_Details_Textual

Acquisitions (Details Textual) (USD $)	3 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Aug. 16, 2013	Mar. 01, 2013	Oct. 07, 2013
			Climax Metal Products Company [Member]	Western Precision Aero LLC [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	112,984	102,668	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	'	'	-5,623	'	-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	'	'	-2,171	-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
Business Acquisition Purchases Price Allocation Goodwill Before Tax	'	'	'	'	2,821
Business Acquisition Purchases Price Allocation Goodwill After Tax	'	'	$5,623	'	'