RBC Bearings (RBC) 10-Q6 Nov 142015 Q2 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
Document And Entity Information	Sep. 27, 2014	Oct. 24, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	27-Sep-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q2	'
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	'	23,347,019

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified	Sep. 27, 2014	Mar. 29, 2014
ASSETS	'	'
Cash and cash equivalents	$109,447	$121,207
Short-term investments	0	2,419
Accounts receivable, net of allowance for doubtful accounts of $1,000 at September 27, 2014 and $1,060 at March 29, 2014	72,001	75,642
Inventory	199,332	198,021
Deferred income taxes	12,513	12,611
Prepaid expenses and other current assets	10,326	7,645
Total current assets	403,619	417,545
Property, plant and equipment, net	138,678	137,154
Goodwill	43,439	43,452
Intangible assets, net of accumulated amortization of $12,311 at September 27, 2014 and $12,821 at March 29, 2014	12,774	14,617
Other assets	8,479	8,225
Total assets	606,989	620,993
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Accounts payable	23,562	24,326
Accrued expenses and other current liabilities	21,518	17,220
Current portion of long-term debt	1,240	1,274
Total current liabilities	46,320	42,820
Deferred income taxes	9,899	9,779
Long-term debt, less current portion	8,334	9,173
Other non-current liabilities	21,492	20,769
Total liabilities	86,045	82,541
Stockholders' equity:	'	'
Preferred stock, $.01 par value; authorized shares: 10,000,000 at September 27, 2014 and March 29, 2014; none issued and outstanding	0	0
Common stock, $.01 par value; authorized shares: 60,000,000 at September 27, 2014 and March 29, 2014; issued and outstanding shares: 23,781,055 at September 27, 2014 and 23,524,028 at March 29, 2014	238	235
Additional paid-in capital	255,954	246,152
Accumulated other comprehensive income (loss)	-3,481	2,365
Retained earnings	285,196	301,942
Treasury stock, at cost, 398,161 shares at September 27, 2014 and 317,817 shares at March 29, 2014	-16,963	-12,242
Total stockholders' equity	520,944	538,452
Total liabilities and stockholders' equity	$606,989	$620,993

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, except Share data, unless otherwise specified	Sep. 27, 2014	Mar. 29, 2014
Accounts receivable, allowance for doubtful accounts	$1,000	$1,060
Intangible assets, accumulated amortization	$12,311	$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	23,781,055	23,524,028
Common stock, outstanding shares	23,781,055	23,524,028
Treasury Stock	'	'
Treasury stock, shares	398,161	317,817

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Net sales	$112,555	$101,954	$225,539	$204,622
Cost of sales	72,804	61,363	141,967	123,562
Gross margin	39,751	40,591	83,572	81,060
Operating expenses:	'	'	'	'
Selling, general and administrative	18,517	17,140	37,513	34,124
Other, net.	2,937	1,935	3,551	3,122
Total operating expenses	21,454	19,075	41,064	37,246
Operating income	18,297	21,516	42,508	43,814
Interest expense, net	308	253	532	494
Other non-operating (income) expense	-235	-15	-502	-207
Income before income taxes	18,224	21,278	42,478	43,527
Provision for income taxes	4,976	7,153	13,210	14,286
Net income	$13,248	$14,125	$29,268	$29,241
Net income per common share:	'	'	'	'
Basic	$0.57	$0.62	$1.27	$1.28
Diluted	$0.57	$0.61	$1.25	$1.26
Weighted average common shares:	'	'	'	'
Basic	23,134,902	22,827,498	23,070,170	22,807,239
Diluted	23,424,421	23,204,508	23,394,439	23,152,876
Dividends per share	$0	$0	$2	$0

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Net income	$13,248	$14,125	$29,268	$29,241
Pension and postretirement liability adjustments, net of taxes	199	-230	398	-459
Unrealized gain (loss) on investments, net of taxes	-345	34	-273	-12
Foreign currency translation adjustments	-5,152	2,470	-5,971	3,248
Total comprehensive income	$7,950	$16,399	$23,422	$32,018

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013
Cash flows from operating activities:	'	'
Net income	$29,268	$29,241
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	7,103	6,753
Excess tax benefits from stock-based compensation	-2,778	-587
Deferred income taxes	218	487
Amortization of intangible assets	964	837
Amortization of deferred financing costs	163	163
Consolidation and restructuring charges	5,026	0
Stock-based compensation	4,035	2,739
Loss on disposition or sale of assets	500	8
Changes in operating assets and liabilities, net of acquisitions:	'	'
Accounts receivable	2,848	-2,195
Inventory	-6,291	-12,904
Prepaid expenses and other current assets	-2,669	-1,329
Other non-current assets	-670	-1,393
Accounts payable	-560	-1,030
Accrued expenses and other current liabilities	7,451	364
Other non-current liabilities	120	385
Net cash provided by operating activities	44,728	21,539
Cash flows from investing activities:	'	'
Purchase of property, plant and equipment	-11,458	-14,592
Purchase of short-term investments	0	-729
Proceeds from Sale of Short-term Investments	2,380	0
Acquisition of businesses, net of cash acquired	0	-13,646
Proceeds from sale of assets	593	35
Net cash used in investing activities	-8,485	-28,932
Cash flows from financing activities:	'	'
Exercise of stock options	2,992	1,382
Excess tax benefits from stock-based compensation	2,778	587
Repurchase of common stock	-4,721	-109
Payment of term loan	-259	-247
Dividends paid to shareholders	-46,014	0
Other, net	-101	-58
Net cash (used in) provided by financing activities	-45,325	1,555
Effect of exchange rate changes on cash	-2,678	1,560
Cash and cash equivalents:	'	'
Decrease during the period	-11,760	-4,278
Cash, at beginning of period	121,207	114,480
Cash, at end of period	$109,447	$110,202

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Accumulated Other Comprehensive Income (Loss)	Sep. 27, 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)		-5,971		405		72		-5,494
	Amounts reclassified from accumulated other comprehensive income (loss)		—		-7		-345		-352
	Net current period other comprehensive income (loss)		-5,971		398		-273		-5,846
	Balance at September 27, 2014	$	2,866	$	-6,334	$	-13	$	-3,481

Net_Income_Per_Common_Share

Net Income Per Common Share	6 Months Ended
Net Income Per Common Share	Sep. 27, 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				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013

	Net income	$	13,248	$	14,125	$	29,268	$	29,241

	Denominator for basic net income per common share—weighted-average shares outstanding		23,134,902		22,827,498		23,070,170		22,807,239
	Effect of dilution due to employee stock options		289,519		377,010		324,269		345,637
	Denominator for diluted net income per common share — weighted-average shares outstanding		23,424,421		23,204,508		23,394,439		23,152,876

	Basic net income per common share	$	0.57	$	0.62	$	1.27	$	1.28

	Diluted net income per common share	$	0.57	$	0.61	$	1.25	$	1.26

	At September 27, 2014, 419,650 employee stock options and 800 restricted shares have been excluded from the calculation of diluted earnings per share. At September 28, 2013, 207,500 employee stock options and 2,000 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	6 Months Ended
Cash and Cash Equivalents	Sep. 27, 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	6 Months Ended
	Sep. 27, 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:

		September 27,		March 29,
		2014		2014
	Raw materials	$	18,266	$	18,001
	Work in process		46,738		46,134
	Finished goods		134,328		133,886
		$	199,332	$	198,021

Intangible_Assets

Intangible Assets	6 Months Ended
Intangible Assets	Sep. 27, 2014
Intangible Assets, Net (Excluding Goodwill) [Abstract]	'
Intangible Assets	'
	5. Intangible Assets

				September 27, 2014				March 29, 2014
		Weighted		Gross		Accumulated		Gross		Accumulated
		Average		Carrying		Amortization		Carrying		Amortization
		Useful		Amount				Amount
		Lives
	Product approvals	15		$	4,068	$	2,236	$	6,266	$	3,099
	Customer relationships and lists	13			9,017		4,047		9,417		4,018
	Trade names	13			2,102		1,275		2,230		1,237
	Distributor agreements	5			722		722		722		722
	Patents and trademarks	15			7,542		2,739		7,077		2,422
	Domain names	10			437		277		437		255
	Other	4			1,197		1,015		1,289		1,068
	Total			$	25,085	$	12,311	$	27,438	$	12,821

	Amortization expense for definite-lived intangible assets for the three and six month periods ended September 27, 2014 was $467 and $964, respectively. Amortization expense for definite-lived intangible assets for the three and six month periods ended September 28, 2013 was $444 and $837, respectively. A gross carrying amount of $2,776 and related amortization of $1,469 was written off in the three month period ended September 27, 2014 due to the consolidation of the Company’s United Kingdom (“U.K.”) facility. Estimated amortization expense for the remaining six months of fiscal 2015, the five succeeding fiscal years and thereafter is as follows:


	2015	$	872
	2016		1,808
	2017		1,698
	2018		1,575
	2019		1,352
	2020		1,245
	2021 and thereafter		4,224

Debt

Debt	6 Months Ended
	Sep. 27, 2014
Debt Instruments [Abstract]	'
Debt	'
	6. Debt

	The balances payable under all borrowing facilities are as follows:

		September 27,		March 29,
		2014		2014
	Notes payable	$	9,574	$	10,447
	Total debt		9,574		10,447
	Less: current portion		1,240		1,274
	Long-term debt	$	8,334	$	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 September 27, 2014 was 8,370 CHF, or $8,824.

	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 September 27, 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 September 27, 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 September 27, 2014, RBCA had the ability to borrow up to an additional $145,092 under the JP Morgan Credit Agreement.

Income_Taxes

Income Taxes	6 Months Ended
Income Taxes	Sep. 27, 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 commenced 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 September 27, 2014 and September 28, 2013, were 27.3% and 33.6%. 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 September 27, 2014 of 27.3% includes discrete items of $3,131 which are comprised substantially of items associated with the consolidation and restructuring of the Company’s U.K. manufacturing facility. The effective income tax rate without discrete items and without other associated consolidated and restructuring expenses pertaining to the Company’s UK manufacturing facility for the three month period ended September 27, 2014 would have been 32.9%. The effective income tax rate for the three month period ended September 28, 2013 of 33.6% includes discrete items of $167 which are substantially comprised of the reversal of unrecognized tax benefits associated with the expiration of statutes of limitations and the conclusion of income tax audits along with the recognition of interest on unrecognized tax positions. The effective income tax rate without discrete items for the three month period ended September 28, 2013 would have been 34.4%. 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	6 Months Ended
Reportable Segments	Sep. 27, 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				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013
	Net External Sales
	Plain	$	57,458	$	52,828	$	117,331	$	109,918
	Roller		33,504		30,277		65,269		58,627
	Ball		14,093		11,200		27,638		20,655
	Other		7,500		7,649		15,301		15,422
		$	112,555	$	101,954	$	225,539	$	204,622
	Gross Margin
	Plain	$	20,817	$	20,708	$	43,284	$	42,942
	Roller		10,799		12,943		23,590		25,242
	Ball		5,360		4,037		10,787		7,045
	Other		2,775		2,903		5,911		5,831
		$	39,751	$	40,591	$	83,572	$	81,060
	Selling, General & Administrative Expenses
	Plain	$	4,588	$	4,204	$	9,350	$	8,553
	Roller		1,566		1,791		3,251		3,507
	Ball		1,279		1,005		2,607		1,657
	Other		881		1,063		1,861		2,119
	Corporate		10,203		9,077		20,444		18,288
		$	18,517	$	17,140	$	37,513	$	34,124

	Operating Income
	Plain	$	15,950	$	16,131	$	33,503	$	33,734
	Roller		6,497		10,946		17,449		21,449
	Ball		3,914		2,265		7,867		3,928
	Other		1,909		1,847		4,034		3,857
	Corporate		-9,973		-9,673		-20,345		-19,154
		$	18,297	$	21,516	$	42,508	$	43,814

	Geographic External Sales
	Domestic	$	93,387	$	86,490	$	188,433	$	172,623
	Foreign		19,168		15,464		37,106		31,999
		$	112,555	$	101,954	$	225,539	$	204,622
	Intersegment Sales
	Plain	$	1,041	$	980	$	2,020	$	1,904
	Roller		5,056		4,377		10,039		9,250
	Ball		706		585		1,258		910
	Other		7,840		6,688		15,028		13,251
		$	14,643	$	12,630	$	28,345	$	25,315

	All intersegment sales are eliminated in consolidation.

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Sep. 27, 2014
Business Combinations [Abstract]	'
Acquisitions	'
	9. 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.

Consolidation_and_Restructurin

Consolidation and Restructuring of Operations	6 Months Ended
Consolidation and Restructuring of Operations	Sep. 27, 2014
Restructuring and Related Activities [Abstract]	'
Consolidation and Restructuring of Operations	'
	10. Consolidation and Restructuring of Operations

	In the second quarter of fiscal 2015, the Company reached a decision to consolidate the manufacturing capacity of its United Kingdom (U.K.) facility into its other manufacturing facilities. This decision was based on the Company’s intent to better align manufacturing abilities and product development. The consolidation of this facility into the European and South Carolina operations will strengthen and bring improved manufacturing scale to those operations. As a result the Company recorded a charge of $6,382 associated with the consolidation of operations in the second quarter of fiscal 2015 attributable to the Roller Bearings segment. The $6,382 charge includes $3,707 of inventory rationalization costs, $1,319 in impairment of intangibles, $427 loss on fixed assets disposals, $286 in employee related costs and $643 of other costs related to the consolidation of operations. The inventory rationalization costs were recorded in cost of sales in the income statement. All other costs were recorded under operating expenses in the other, net category of the income statement. The pre-tax charge of $6,382 was offset with an associated discrete tax benefit of $3,131. The Company determined that the market approach was the most appropriate method to estimate the fair value for the inventory and equipment using comparable sales data and actual quotes from potential buyers in the market place. The consolidation of the majority of operations was completed in the second quarter of fiscal 2015 and additional charges of $200 to $500 are expected in the third quarter.

	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 to a third party in July 2014.

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Sep. 27, 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)		-5,971		405		72		-5,494
	Amounts reclassified from accumulated other comprehensive income (loss)		—		-7		-345		-352
	Net current period other comprehensive income (loss)		-5,971		398		-273		-5,846
	Balance at September 27, 2014	$	2,866	$	-6,334	$	-13	$	-3,481

Net_Income_Per_Common_Share_Ta

Net Income Per Common Share (Tables)	6 Months Ended
Net Income Per Common Share (Tables)	Sep. 27, 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				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013

	Net income	$	13,248	$	14,125	$	29,268	$	29,241

	Denominator for basic net income per common share—weighted-average shares outstanding		23,134,902		22,827,498		23,070,170		22,807,239
	Effect of dilution due to employee stock options		289,519		377,010		324,269		345,637
	Denominator for diluted net income per common share — weighted-average shares outstanding		23,424,421		23,204,508		23,394,439		23,152,876

	Basic net income per common share	$	0.57	$	0.62	$	1.27	$	1.28

	Diluted net income per common share	$	0.57	$	0.61	$	1.25	$	1.26

Inventory_Tables

Inventory (Tables)	6 Months Ended
Inventory (Tables)	Sep. 27, 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:

		September 27,		March 29,
		2014		2014
	Raw materials	$	18,266	$	18,001
	Work in process		46,738		46,134
	Finished goods		134,328		133,886
		$	199,332	$	198,021

Intangible_Assets_Tables

Intangible Assets (Tables)	6 Months Ended
Intangible Assets (Tables)	Sep. 27, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule Of Intangible Assets	'
				September 27, 2014				March 29, 2014
		Weighted		Gross		Accumulated		Gross		Accumulated
		Average		Carrying		Amortization		Carrying		Amortization
		Useful		Amount				Amount
		Lives
	Product approvals	15		$	4,068	$	2,236	$	6,266	$	3,099
	Customer relationships and lists	13			9,017		4,047		9,417		4,018
	Trade names	13			2,102		1,275		2,230		1,237
	Distributor agreements	5			722		722		722		722
	Patents and trademarks	15			7,542		2,739		7,077		2,422
	Domain names	10			437		277		437		255
	Other	4			1,197		1,015		1,289		1,068
	Total			$	25,085	$	12,311	$	27,438	$	12,821

Schedule Of Estimated Amortization Expense	'
	Estimated amortization expense for the remaining six months of fiscal 2015, the five succeeding fiscal years and thereafter is as follows:


	2015	$	872
	2016		1,808
	2017		1,698
	2018		1,575
	2019		1,352
	2020		1,245
	2021 and thereafter		4,224

Debt_Tables

Debt (Tables)	6 Months Ended
Debt (Tables)	Sep. 27, 2014
Debt Instruments [Abstract]	'
Schedule Of Balances Payable Under Borrowing Facilities	'
	The balances payable under all borrowing facilities are as follows:

		September 27,		March 29,
		2014		2014
	Notes payable	$	9,574	$	10,447
	Total debt		9,574		10,447
	Less: current portion		1,240		1,274
	Long-term debt	$	8,334	$	9,173

Reportable_Segments_Tables

Reportable Segments (Tables)	6 Months Ended
Reportable Segments (Tables)	Sep. 27, 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				Six Months Ended
		September 27,		September 28,		September 27,		September 28,
		2014		2013		2014		2013
	Net External Sales
	Plain	$	57,458	$	52,828	$	117,331	$	109,918
	Roller		33,504		30,277		65,269		58,627
	Ball		14,093		11,200		27,638		20,655
	Other		7,500		7,649		15,301		15,422
		$	112,555	$	101,954	$	225,539	$	204,622
	Gross Margin
	Plain	$	20,817	$	20,708	$	43,284	$	42,942
	Roller		10,799		12,943		23,590		25,242
	Ball		5,360		4,037		10,787		7,045
	Other		2,775		2,903		5,911		5,831
		$	39,751	$	40,591	$	83,572	$	81,060
	Selling, General & Administrative Expenses
	Plain	$	4,588	$	4,204	$	9,350	$	8,553
	Roller		1,566		1,791		3,251		3,507
	Ball		1,279		1,005		2,607		1,657
	Other		881		1,063		1,861		2,119
	Corporate		10,203		9,077		20,444		18,288
		$	18,517	$	17,140	$	37,513	$	34,124

	Operating Income
	Plain	$	15,950	$	16,131	$	33,503	$	33,734
	Roller		6,497		10,946		17,449		21,449
	Ball		3,914		2,265		7,867		3,928
	Other		1,909		1,847		4,034		3,857
	Corporate		-9,973		-9,673		-20,345		-19,154
		$	18,297	$	21,516	$	42,508	$	43,814

	Geographic External Sales
	Domestic	$	93,387	$	86,490	$	188,433	$	172,623
	Foreign		19,168		15,464		37,106		31,999
		$	112,555	$	101,954	$	225,539	$	204,622
	Intersegment Sales
	Plain	$	1,041	$	980	$	2,020	$	1,904
	Roller		5,056		4,377		10,039		9,250
	Ball		706		585		1,258		910
	Other		7,840		6,688		15,028		13,251
		$	14,643	$	12,630	$	28,345	$	25,315

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013	Mar. 29, 2014
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	'	'	-5,971	'	'
Amounts reclassified from accumulated other comprehensive income (loss) Currency Translation	'	'	0	'	'
Net current period other comprehensive income (loss) Currency Translation	-5,152	2,470	-5,971	3,248	'
Balance at September 27, 2014	2,866	'	2,866	'	'
Balance at March 29, 2014	'	'	-6,732	'	'
Other comprehensive income (loss) before reclassifications (net of taxes) Pension and Postretirement Liability	'	'	405	'	'
Amounts reclassified from accumulated other comprehensive income (loss) Pension and Postretirement Liability	'	'	-7	'	'
Net current period other comprehensive income (loss) Pension and Postretirement Liability	199	-230	398	-459	'
Balance at September 27, 2014	-6,334	'	-6,334	'	'
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	'	'	-345	'	'
Net current period other comprehensive income (loss) Investments	'	'	-273	'	'
Balance at September 27, 2014	-13	'	-13	'	'
Balance at March 29, 2014	'	'	2,365	'	2,365
Other comprehensive income (loss) before reclassifications (net of taxes)	'	'	-5,494	'	'
Amounts reclassified from accumulated other comprehensive income (loss)	'	'	-352	'	'
Net current period other comprehensive income (loss)	'	'	-5,846	'	'
Balance at September 27, 2014	($3,481)	'	($3,481)	'	$2,365

Net_Income_Per_Common_Share_De

Net Income Per Common Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Net Income Loss Per Common Share [Line Items]	'	'	'	'
Net income	$13,248	$14,125	$29,268	$29,241
Denominator for basic net income per common shareBweighted-average shares outstanding	23,134,902	22,827,498	23,070,170	22,807,239
Effect of dilution due to employee stock options	289,519	377,010	324,269	345,637
Denominator for diluted net income per common share B weighted-average shares outstanding	23,424,421	23,204,508	23,394,439	23,152,876
Basic net income per common share	$0.57	$0.62	$1.27	$1.28
Diluted net income per common share	$0.57	$0.61	$1.25	$1.26

Net_Income_Per_Common_Share_De1

Net Income Per Common Share (Details Textual)	6 Months Ended
Net Income Per Common Share (Details Textual)	Sep. 27, 2014	Sep. 28, 2013
Net Income Loss Per Common Share [Line Items]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	419,650	207,500
Unvested restricted stock shares	800	2,000

Inventory_Details

Inventory (Details) (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified	Sep. 27, 2014	Mar. 29, 2014
Inventory [Line Items]	'	'
Raw materials	$18,266	$18,001
Work in process	46,738	46,134
Finished goods	134,328	133,886
Inventory, total	$199,332	$198,021

Intangible_Assets_Details

Intangible Assets (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Mar. 29, 2014
Finite-Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	$25,085	$27,438
Accumulated Amortization	12,311	12,821
Product approvals [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'15 years	'
Gross Carrying Amount	4,068	6,266
Accumulated Amortization	2,236	3,099
Customer relationships and lists [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'13 years	'
Gross Carrying Amount	9,017	9,417
Accumulated Amortization	4,047	4,018
Trade names [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'13 years	'
Gross Carrying Amount	2,102	2,230
Accumulated Amortization	1,275	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	7,542	7,077
Accumulated Amortization	2,739	2,422
Domain names [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'10 years	'
Gross Carrying Amount	437	437
Accumulated Amortization	277	255
Other [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Weighted Average Useful Lives	'4 years	'
Gross Carrying Amount	1,197	1,289
Accumulated Amortization	$1,015	$1,068

Intangible_Assets_Details_1

Intangible Assets (Details 1) (USD $)	Sep. 27, 2014
In Thousands, unless otherwise specified	Sep. 27, 2014
Finite-Lived Intangible Assets [Line Items]	'
2015	$872
2016	1,808
2017	1,698
2018	1,575
2019	1,352
2020	1,245
2021 and thereafter	$4,224

Intangible_Assets_Details_Text

Intangible Assets (Details Textual) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013	Mar. 29, 2014
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Amortization of intangible assets	$467	$444	$964	$837	'
Gross Carrying Amount	25,085	'	25,085	'	27,438
Intangible assets, accumulated amortization	12,311	'	12,311	'	12,821
GB	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Gross Carrying Amount	2,776	'	2,776	'	'
Intangible assets, accumulated amortization	$1,469	'	$1,469	'	'

Debt_Details

Debt (Details) (USD $)	Sep. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified	Sep. 27, 2014	Mar. 29, 2014
Short-term Debt [Line Items]	'	'
Notes payable	$9,574	$10,447
Total debt	9,574	10,447
Less: current portion	1,240	1,274
Long-term debt	$8,334	$9,173

Debt_Details_Textual

Debt (Details Textual)

0 Months Ended

1 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Oct. 01, 2012

Sep. 27, 2014

Oct. 01, 2012

Sep. 27, 2014

Nov. 30, 2010

Sep. 27, 2014

Fixed Rate Residential Mortgage [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]

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

Consolidated fixed charge coverage ratio

1.5

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

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

$8,824

8,370

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended
Income Taxes (Details Textual) (USD $)	Sep. 27, 2014	Sep. 28, 2013
Income Tax Contingency [Line Items]	'	'
Effective income tax rate	27.30%	33.60%
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations	'	$167
Unrecognized Tax Benefits Related To Consolidation And Restructuring	3,131	'
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	32.90%	34.40%

Reportable_Segments_Details

Reportable Segments (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	$112,555	$101,954	$225,539	$204,622
Gross Margin	39,751	40,591	83,572	81,060
Selling, General & Administrative Expenses	18,517	17,140	37,513	34,124
Operating Income	18,297	21,516	42,508	43,814
Geographic External Sales	112,555	101,954	225,539	204,622
Intersegment Sales	14,643	12,630	28,345	25,315
Plain [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	57,458	52,828	117,331	109,918
Gross Margin	20,817	20,708	43,284	42,942
Selling, General & Administrative Expenses	4,588	4,204	9,350	8,553
Operating Income	15,950	16,131	33,503	33,734
Intersegment Sales	1,041	980	2,020	1,904
Roller [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	33,504	30,277	65,269	58,627
Gross Margin	10,799	12,943	23,590	25,242
Selling, General & Administrative Expenses	1,566	1,791	3,251	3,507
Operating Income	6,497	10,946	17,449	21,449
Intersegment Sales	5,056	4,377	10,039	9,250
Ball [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	14,093	11,200	27,638	20,655
Gross Margin	5,360	4,037	10,787	7,045
Selling, General & Administrative Expenses	1,279	1,005	2,607	1,657
Operating Income	3,914	2,265	7,867	3,928
Intersegment Sales	706	585	1,258	910
Other [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net External Sales	7,500	7,649	15,301	15,422
Gross Margin	2,775	2,903	5,911	5,831
Selling, General & Administrative Expenses	881	1,063	1,861	2,119
Operating Income	1,909	1,847	4,034	3,857
Intersegment Sales	7,840	6,688	15,028	13,251
Corporate [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Selling, General & Administrative Expenses	10,203	9,077	20,444	18,288
Operating Income	-9,973	-9,673	-20,345	-19,154
Domestic [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Geographic External Sales	93,387	86,490	188,433	172,623
Foreign [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Geographic External Sales	$19,168	$15,464	$37,106	$31,999

Acquisitions_Details_Textual

Acquisitions (Details Textual) (USD $)	3 Months Ended		6 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013	Aug. 16, 2013	Mar. 01, 2013	Oct. 07, 2013
	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 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	112,555	101,954	225,539	204,622	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	'	'

Consolidation_and_Restructurin1

Consolidation and Restructuring of Operations (Details Textual) (USD $)	12 Months Ended			3 Months Ended
In Thousands, unless otherwise specified	Mar. 29, 2014	Mar. 30, 2013	Sep. 27, 2014	Sep. 27, 2014	Sep. 27, 2014	Sep. 27, 2014
	Mar. 29, 2014	Mar. 30, 2013	Sep. 27, 2014	Roller Bearings	Maximum [Member]	Minimum [Member]
Restructuring Charges	$1,787	$6,738	'	$6,382	'	'
Inventory	198,021	'	199,332	3,707	'	'
Impairment of intangible assets (excluding goodwill)	'	'	'	1,319	'	'
Gain (loss) on disposition of property plant equipment	'	'	'	427	'	'
Labor and related expense	'	'	'	286	'	'
Increase (decrease) in other employee related liabilities	'	'	'	643	'	'
Discrete tax benefit	'	'	'	3,131	'	'
Additional charges related to consolidation of operation	'	'	'	'	500	200
Pre Tax Charges	'	'	'	$6,382	'	'