RBC Bearings (RBC) 10-Q 5 Feb 15 2015 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Dec. 27, 2014	Jan. 23, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	27-Dec-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Entity Registrant Name	RBC Bearings INC
Entity Central Index Key	1324948
Current Fiscal Year End Date	-25
Entity Filer Category	Large Accelerated Filer
Trading Symbol	ROLL
Entity Common Stock, Shares Outstanding		23,375,015

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$119,240	$121,207
Short-term investments	0	2,419
Accounts receivable, net of allowance for doubtful accounts of $925 at December 27, 2014 and $1,060 at March 29, 2014	66,580	75,642
Inventory	205,198	198,021
Deferred income taxes	11,940	12,611
Prepaid expenses and other current assets	10,468	7,645
Total current assets	413,426	417,545
Property, plant and equipment, net	138,837	137,154
Goodwill	43,439	43,452
Intangible assets, net of accumulated amortization of $12,746 at December 27, 2014 and $12,821 at March 29, 2014	12,383	14,617
Other assets	9,162	8,225
Total assets	617,247	620,993
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	22,946	24,326
Accrued expenses and other current liabilities	21,072	17,220
Current portion of long-term debt	1,222	1,274
Total current liabilities	45,240	42,820
Deferred income taxes	9,958	9,779
Long-term debt, less current portion	7,899	9,173
Other non-current liabilities	21,379	20,769
Total liabilities	84,476	82,541
Stockholders' equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at December 27, 2014 and March 29, 2014; none issued and outstanding	0	0
Common stock, $.01 par value; authorized shares: 60,000,000 at December 27, 2014 and March 29, 2014; issued and outstanding shares: 23,798,955 at December 27, 2014 and 23,524,028 at March 29, 2014	238	235
Additional paid-in capital	259,183	246,152
Accumulated other comprehensive income (loss)	-6,606	2,365
Retained earnings	299,247	301,942
Treasury stock, at cost, 439,690 shares at December 27, 2014 and 317,817 shares at March 29, 2014	-19,291	-12,242
Total stockholders' equity	532,771	538,452
Total liabilities and stockholders' equity	$617,247	$620,993

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 27, 2014	Mar. 29, 2014
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowance for doubtful accounts	$925	$1,060
Intangible assets, accumulated amortization	$12,746	$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	23,798,955	23,524,028
Common stock, outstanding shares	23,798,955	23,524,028
Treasury Stock
Treasury stock, shares	439,690	317,817

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 2013
Net sales	$106,322	$100,546	$331,861	$305,168
Cost of sales	64,669	62,050	206,636	185,612
Gross margin	41,653	38,496	125,225	119,556
Operating expenses:
Selling, general and administrative	19,266	18,273	56,779	52,397
Other, net	1,798	566	5,349	3,688
Total operating expenses	21,064	18,839	62,128	56,085
Operating income	20,589	19,657	63,097	63,471
Interest expense, net	288	276	820	770
Other non-operating (income) expense	146	43	-356	-164
Income before income taxes	20,155	19,338	62,633	62,865
Provision for income taxes	6,104	6,574	19,314	20,860
Net income	$14,051	$12,764	$43,319	$42,005
Net income per common share:
Basic	$0.61	$0.56	$1.88	$1.84
Diluted	$0.60	$0.55	$1.85	$1.81
Weighted average common shares:
Basic	23,090,635	22,908,556	23,057,864	22,841,011
Diluted	23,376,480	23,311,397	23,369,308	23,205,716
Dividends per share	$0	$0	$2	$0

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 2013
Net income	$14,051	$12,764	$43,319	$42,005
Pension and postretirement liability adjustments, net of taxes	169	-230	567	-689
Unrealized gain (loss) on investments, net of taxes	13	111	-260	99
Foreign currency translation adjustments	-3,307	1,497	-9,278	4,745
Total comprehensive income	$10,926	$14,142	$34,348	$46,160

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Cash flows from operating activities:
Net income	$43,319	$42,005
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	10,446	9,930
Excess tax benefits from stock-based compensation	-3,370	-1,529
Deferred income taxes	851	3,057
Amortization of intangible assets	1,399	1,378
Amortization of deferred financing costs	244	244
Consolidation and restructuring charges	5,026	0
Stock-based compensation	6,231	4,300
Loss on disposition or sale of assets	515	-31
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	7,907	2,207
Inventory	-13,022	-17,475
Prepaid expenses and other current assets	-2,084	-6,744
Other non-current assets	-2,253	-2,388
Accounts payable	-1,016	-553
Accrued expenses and other current liabilities	7,452	-536
Other non-current liabilities	760	2,100
Net cash provided by operating activities	62,405	35,965
Cash flows from investing activities:
Purchase of property, plant and equipment	-15,870	-22,622
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	-17,568
Proceeds from sale of assets	600	100
Net cash used in investing activities	-12,890	-40,819
Cash flows from financing activities:
Exercise of stock options	3,433	3,632
Excess tax benefits from stock-based compensation	3,370	1,529
Repurchase of common stock	-7,049	-662
Payment of term loan	-379	-250
Dividends paid to shareholders	-46,014	0
Other, net	-104	-83
Net cash (used in) provided by financing activities	-46,743	4,166
Effect of exchange rate changes on cash	-4,739	2,197
Cash and cash equivalents:
(Decrease)/increase during the period	-1,967	1,509
Cash, at beginning of period	121,207	114,480
Cash, at end of period	$119,240	$115,989

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Dec. 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):
				Pension and
		Currency		Postretirement
		Translation		Liability		Investments		Total
	Balance at March 29, 2014	$	8,837	$	-6,732	$	260	$	2,365
	Other comprehensive income (loss) before reclassifications (net of taxes)		-9,278		—		72		-9,206
	Amounts reclassified from accumulated other comprehensive income (loss)		—		567		-332		235
	Net current period other comprehensive income (loss)		-9,278		567		-260		-8,971
	Balance at December 27, 2014	$	-441	$	-6,165		—	$	-6,606

Net_Income_Per_Common_Share

Net Income Per Common Share	9 Months Ended
	Dec. 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				Nine Months Ended
		December 27,		December 28,		December 27,		December 28,
		2014		2013		2014		2013
	Net income	$	14,051	$	12,764	$	43,319	$	42,005
	Denominator for basic net income per common share—weighted-average shares outstanding		23,090,635		22,908,556		23,057,864		22,841,011
	Effect of dilution due to employee stock options		285,845		402,841		311,444		364,705
	Denominator for diluted net income per common share — weighted-average shares outstanding		23,376,480		23,311,397		23,369,308		23,205,716
	Basic net income per common share	$	0.61	$	0.56	$	1.88	$	1.84
	Diluted net income per common share	$	0.6	$	0.55	$	1.85	$	1.81
	At December 27, 2014, 419,250 employee stock options and no restricted shares have been excluded from the calculation of diluted earnings per share. At December 28, 2013, 193,500 employee stock options and no 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
	Dec. 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	9 Months Ended
	Dec. 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:
		December 27,		March 29,
		2014		2014
	Raw materials	$	19,175	$	18,001
	Work in process		49,312		46,134
	Finished goods		136,711		133,886
		$	205,198	$	198,021

Intangible_Assets

Intangible Assets	9 Months Ended
	Dec. 27, 2014
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	5. Intangible Assets
				December 27, 2014				March 29, 2014
		Weighted
		Average		Gross				Gross
		Useful		Carrying		Accumulated		Carrying		Accumulated
		Lives		Amount		Amortization		Amount		Amortization
	Product approvals	15		$	4,068	$	2,303	$	6,266	$	3,099
	Customer relationships and lists	13			9,017		4,200		9,417		4,018
	Trade names	13			2,102		1,324		2,230		1,237
	Distributor agreements	5			722		722		722		722
	Patents and trademarks	15			7,586		2,888		7,077		2,422
	Domain names	10			437		288		437		255
	Other	4			1,197		1,021		1,289		1,068
	Total			$	25,129	$	12,746	$	27,438	$	12,821
	Amortization expense for definite-lived intangible assets for the three and nine month periods ended December 27, 2014 was $435 and $1,399, respectively. Amortization expense for definite-lived intangible assets for the three and nine month periods ended December 28, 2013 was $541 and $1,378, 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 three months of fiscal 2015, the five succeeding fiscal years and thereafter is as follows:
	2015	$	434
	2016		1,808
	2017		1,698
	2018		1,575
	2019		1,351
	2020		1,245
	2021 and thereafter		4,272

Debt

Debt	9 Months Ended
	Dec. 27, 2014
Debt Instruments [Abstract]
Debt	6. Debt
	The balances payable under all borrowing facilities are as follows:
		December 27,		March 29,
		2014		2014
	Notes payable	$	9,121	$	10,447
	Total debt		9,121		10,447
	Less: current portion		1,222		1,274
	Long-term debt	$	7,899	$	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 December 27, 2014 was 8,254 CHF, or $8,370.
	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 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 December 27, 2014, the Company was in compliance with all such covenants.
	Approximately $3,698 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 27, 2014, RBCA had the ability to borrow up to an additional $146,302 under the JP Morgan Credit Agreement.

Income_Taxes

Income Taxes	9 Months Ended
	Dec. 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 December 27, 2014 and December 28, 2013, were 30.3% and 34.0%. 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 27, 2014 of 30.3% includes discrete items of $698 which are comprised substantially of the reversal of unrecognized tax benefits associated with the expiration of the statutes of limitation and the conclusion of state income tax audits, the recognition of interest on unrecognized tax positions and the recognition of benefits for federal law changes. The effective income tax rate without discrete items for the three month period ended December 27, 2014 would have been 33.7%. 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 without discrete items for the three month period ended December 28, 2013 would have been 34.3%. 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 $631.

Reportable_Segments

Reportable Segments	9 Months Ended
	Dec. 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				Nine Months Ended
		December 27,		December 28,		December 27,		December 28,
		2014		2013		2014		2013
	Net External Sales
	Plain	$	53,770	$	52,991	$	171,101	$	162,909
	Roller		31,358		27,284		96,627		85,911
	Ball		14,038		13,054		41,676		33,709
	Other		7,156		7,217		22,457		22,639
		$	106,322	$	100,546	$	331,861	$	305,168
	Gross Margin
	Plain	$	20,283	$	19,350	$	63,567	$	62,292
	Roller		12,695		10,739		36,285		35,981
	Ball		5,724		4,839		16,511		11,884
	Other		2,951		3,568		8,862		9,399
		$	41,653	$	38,496	$	125,225	$	119,556
	Selling, General & Administrative Expenses
	Plain	$	4,777	$	4,725	$	14,127	$	13,278
	Roller		1,507		1,664		4,758		5,171
	Ball		1,345		1,379		3,952		3,036
	Other		1,072		945		2,933		3,064
	Corporate		10,565		9,560		31,009		27,848
		$	19,266	$	18,273	$	56,779	$	52,397
	Operating Income
	Plain	$	15,881	$	14,521	$	49,384	$	48,255
	Roller		10,366		9,182		27,815		30,631
	Ball		4,254		3,157		12,121		7,085
	Other		1,920		2,608		5,954		6,465
	Corporate		-11,832		-9,811		-32,177		-28,965
		$	20,589	$	19,657	$	63,097	$	63,471
	Geographic External Sales
	Domestic	$	89,605	$	84,421	$	278,038	$	257,044
	Foreign		16,717		16,125		53,823		48,124
		$	106,322	$	100,546	$	331,861	$	305,168
	Intersegment Sales
	Plain	$	924	$	1,078	$	2,944	$	2,982
	Roller		4,811		4,075		14,850		13,325
	Ball		432		481		1,690		1,391
	Other		7,380		6,351		22,408		19,602
		$	13,547	$	11,985	$	41,892	$	37,300
	All intersegment sales are eliminated in consolidation.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 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 calendar year 2012 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 $469. 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 calendar year 2012 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	9 Months Ended
	Dec. 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. Additional charges of $88 were recorded in the third quarter of fiscal 2015.
	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)	9 Months Ended
	Dec. 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):
				Pension and
		Currency		Postretirement
		Translation		Liability		Investments		Total
	Balance at March 29, 2014	$	8,837	$	-6,732	$	260	$	2,365
	Other comprehensive income (loss) before reclassifications (net of taxes)		-9,278		—		72		-9,206
	Amounts reclassified from accumulated other comprehensive income (loss)		—		567		-332		235
	Net current period other comprehensive income (loss)		-9,278		567		-260		-8,971
	Balance at December 27, 2014	$	-441	$	-6,165		—	$	-6,606

Net_Income_Per_Common_Share_Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Dec. 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				Nine Months Ended
		December 27,		December 28,		December 27,		December 28,
		2014		2013		2014		2013
	Net income	$	14,051	$	12,764	$	43,319	$	42,005
	Denominator for basic net income per common share—weighted-average shares outstanding		23,090,635		22,908,556		23,057,864		22,841,011
	Effect of dilution due to employee stock options		285,845		402,841		311,444		364,705
	Denominator for diluted net income per common share — weighted-average shares outstanding		23,376,480		23,311,397		23,369,308		23,205,716
	Basic net income per common share	$	0.61	$	0.56	$	1.88	$	1.84
	Diluted net income per common share	$	0.6	$	0.55	$	1.85	$	1.81

Inventory_Tables

Inventory (Tables)	9 Months Ended
	Dec. 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:
		December 27,		March 29,
		2014		2014
	Raw materials	$	19,175	$	18,001
	Work in process		49,312		46,134
	Finished goods		136,711		133,886
		$	205,198	$	198,021

Intangible_Assets_Tables

Intangible Assets (Tables)	9 Months Ended
	Dec. 27, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Intangible Assets				December 27, 2014				March 29, 2014
		Weighted
		Average		Gross				Gross
		Useful		Carrying		Accumulated		Carrying		Accumulated
		Lives		Amount		Amortization		Amount		Amortization
	Product approvals	15		$	4,068	$	2,303	$	6,266	$	3,099
	Customer relationships and lists	13			9,017		4,200		9,417		4,018
	Trade names	13			2,102		1,324		2,230		1,237
	Distributor agreements	5			722		722		722		722
	Patents and trademarks	15			7,586		2,888		7,077		2,422
	Domain names	10			437		288		437		255
	Other	4			1,197		1,021		1,289		1,068
	Total			$	25,129	$	12,746	$	27,438	$	12,821
Schedule Of Estimated Amortization Expense	Estimated amortization expense for the remaining three months of fiscal 2015, the five succeeding fiscal years and thereafter is as follows:
	2015	$	434
	2016		1,808
	2017		1,698
	2018		1,575
	2019		1,351
	2020		1,245
	2021 and thereafter		4,272

Debt_Tables

Debt (Tables)	9 Months Ended
	Dec. 27, 2014
Debt Instruments [Abstract]
Schedule Of Balances Payable Under Borrowing Facilities	The balances payable under all borrowing facilities are as follows:
		December 27,		March 29,
		2014		2014
	Notes payable	$	9,121	$	10,447
	Total debt		9,121		10,447
	Less: current portion		1,222		1,274
	Long-term debt	$	7,899	$	9,173

Reportable_Segments_Tables

Reportable Segments (Tables)	9 Months Ended
	Dec. 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				Nine Months Ended
		December 27,		December 28,		December 27,		December 28,
		2014		2013		2014		2013
	Net External Sales
	Plain	$	53,770	$	52,991	$	171,101	$	162,909
	Roller		31,358		27,284		96,627		85,911
	Ball		14,038		13,054		41,676		33,709
	Other		7,156		7,217		22,457		22,639
		$	106,322	$	100,546	$	331,861	$	305,168
	Gross Margin
	Plain	$	20,283	$	19,350	$	63,567	$	62,292
	Roller		12,695		10,739		36,285		35,981
	Ball		5,724		4,839		16,511		11,884
	Other		2,951		3,568		8,862		9,399
		$	41,653	$	38,496	$	125,225	$	119,556
	Selling, General & Administrative Expenses
	Plain	$	4,777	$	4,725	$	14,127	$	13,278
	Roller		1,507		1,664		4,758		5,171
	Ball		1,345		1,379		3,952		3,036
	Other		1,072		945		2,933		3,064
	Corporate		10,565		9,560		31,009		27,848
		$	19,266	$	18,273	$	56,779	$	52,397
	Operating Income
	Plain	$	15,881	$	14,521	$	49,384	$	48,255
	Roller		10,366		9,182		27,815		30,631
	Ball		4,254		3,157		12,121		7,085
	Other		1,920		2,608		5,954		6,465
	Corporate		-11,832		-9,811		-32,177		-28,965
		$	20,589	$	19,657	$	63,097	$	63,471
	Geographic External Sales
	Domestic	$	89,605	$	84,421	$	278,038	$	257,044
	Foreign		16,717		16,125		53,823		48,124
		$	106,322	$	100,546	$	331,861	$	305,168
	Intersegment Sales
	Plain	$	924	$	1,078	$	2,944	$	2,982
	Roller		4,811		4,075		14,850		13,325
	Ball		432		481		1,690		1,391
	Other		7,380		6,351		22,408		19,602
		$	13,547	$	11,985	$	41,892	$	37,300

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 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			-9,278
Amounts reclassified from accumulated other comprehensive income (loss) Currency Translation			0
Net current period other comprehensive income (loss) Currency Translation	-3,307	1,497	-9,278	4,745
Balance at December 27, 2014	-441		-441
Balance at March 29, 2014			-6,732
Other comprehensive income (loss) before reclassifications (net of taxes) Pension and Postretirement Liability			0
Amounts reclassified from accumulated other comprehensive income (loss) Pension and Postretirement Liability			567
Net current period other comprehensive income (loss) Pension and Postretirement Liability	169	-230	567	-689
Balance at December 27, 2014	-6,165		-6,165
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			-332
Net current period other comprehensive income (loss) Investments			-260
Balance at December 27, 2014	0		0
Balance at March 29, 2014			2,365
Other comprehensive income (loss) before reclassifications (net of taxes)			-9,206
Amounts reclassified from accumulated other comprehensive income (loss)			235
Net current period other comprehensive income (loss)			-8,971
Balance at December 27, 2014	($6,606)		($6,606)

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. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 2013
Net Income Loss Per Common Share [Line Items]
Net income	$14,051	$12,764	$43,319	$42,005
Denominator for basic net income per common shareBweighted-average shares outstanding	23,090,635	22,908,556	23,057,864	22,841,011
Effect of dilution due to employee stock options	285,845	402,841	311,444	364,705
Denominator for diluted net income per common share B weighted-average shares outstanding	23,376,480	23,311,397	23,369,308	23,205,716
Basic net income per common share	$0.61	$0.56	$1.88	$1.84
Diluted net income per common share	$0.60	$0.55	$1.85	$1.81

Net_Income_Per_Common_Share_De1

Net Income Per Common Share (Details Textual)	9 Months Ended
	Dec. 27, 2014	Dec. 28, 2013
Net Income Loss Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	419,250	193,500
Unvested restricted stock shares	0	0

Inventory_Details

Inventory (Details) (USD $)	Dec. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]
Raw materials	$19,175	$18,001
Work in process	49,312	46,134
Finished goods	136,711	133,886
Inventory, total	$205,198	$198,021

Intangible_Assets_Details

Intangible Assets (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Mar. 29, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$25,129	$27,438
Accumulated Amortization	12,746	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	2,303	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	4,200	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	1,324	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	7,586	7,077
Accumulated Amortization	2,888	2,422
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	437	437
Accumulated Amortization	288	255
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	4 years
Gross Carrying Amount	1,197	1,289
Accumulated Amortization	$1,021	$1,068

Intangible_Assets_Details_1

Intangible Assets (Details 1) (USD $)	Dec. 27, 2014
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]
2015	$434
2016	1,808
2017	1,698
2018	1,575
2019	1,351
2020	1,245
2021 and thereafter	$4,272

Intangible_Assets_Details_Text

Intangible Assets (Details Textual) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 2013	Mar. 29, 2014	Sep. 27, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$435	$541	$1,399	$1,378
Gross Carrying Amount	25,129		25,129		27,438
Intangible assets, accumulated amortization	12,746		12,746		12,821
GB
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount						2,776
Intangible assets, accumulated amortization						$1,469

Debt_Details

Debt (Details) (USD $)	Dec. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Short-term Debt [Line Items]
Notes payable	$9,121	$10,447
Total debt	9,121	10,447
Less: current portion	1,222	1,274
Long-term debt	$7,899	$9,173

Debt_Details_Textual

Debt (Details Textual)

0 Months Ended

0 Months Ended

0 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Oct. 01, 2012

Oct. 01, 2012

Dec. 27, 2014

Dec. 27, 2014

Oct. 01, 2012

Oct. 01, 2012

Dec. 27, 2014

Dec. 27, 2014

Nov. 30, 2010

Dec. 27, 2014

Dec. 27, 2014

Dec. 27, 2014

Dec. 27, 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

3,698

Remaining credit capacity

146,302

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

$8,370

8,254

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Income Tax Contingency [Line Items]
Effective income tax rate	30.30%	34.00%
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations	$698	$56
Minimum [Member]
Income Tax Contingency [Line Items]
Estimated decrease in credits and state tax	$631
Without Discrete Item [Member]
Income Tax Contingency [Line Items]
Effective income tax rate	33.70%	34.30%

Reportable_Segments_Details

Reportable Segments (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 2013
Segment Reporting Information [Line Items]
Net External Sales	$106,322	$100,546	$331,861	$305,168
Gross Margin	41,653	38,496	125,225	119,556
Selling, General & Administrative Expenses	19,266	18,273	56,779	52,397
Operating Income	20,589	19,657	63,097	63,471
Geographic External Sales	106,322	100,546	331,861	305,168
Intersegment Sales	13,547	11,985	41,892	37,300
Plain [Member]
Segment Reporting Information [Line Items]
Net External Sales	53,770	52,991	171,101	162,909
Gross Margin	20,283	19,350	63,567	62,292
Selling, General & Administrative Expenses	4,777	4,725	14,127	13,278
Operating Income	15,881	14,521	49,384	48,255
Intersegment Sales	924	1,078	2,944	2,982
Roller [Member]
Segment Reporting Information [Line Items]
Net External Sales	31,358	27,284	96,627	85,911
Gross Margin	12,695	10,739	36,285	35,981
Selling, General & Administrative Expenses	1,507	1,664	4,758	5,171
Operating Income	10,366	9,182	27,815	30,631
Intersegment Sales	4,811	4,075	14,850	13,325
Ball [Member]
Segment Reporting Information [Line Items]
Net External Sales	14,038	13,054	41,676	33,709
Gross Margin	5,724	4,839	16,511	11,884
Selling, General & Administrative Expenses	1,345	1,379	3,952	3,036
Operating Income	4,254	3,157	12,121	7,085
Intersegment Sales	432	481	1,690	1,391
Other [Member]
Segment Reporting Information [Line Items]
Net External Sales	7,156	7,217	22,457	22,639
Gross Margin	2,951	3,568	8,862	9,399
Selling, General & Administrative Expenses	1,072	945	2,933	3,064
Operating Income	1,920	2,608	5,954	6,465
Intersegment Sales	7,380	6,351	22,408	19,602
Corporate [Member]
Segment Reporting Information [Line Items]
Selling, General & Administrative Expenses	10,565	9,560	31,009	27,848
Operating Income	-11,832	-9,811	-32,177	-28,965
Domestic [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	89,605	84,421	278,038	257,044
Foreign [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	$16,717	$16,125	$53,823	$48,124

Acquisitions_Details_Textual

Acquisitions (Details Textual) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 2013	Aug. 16, 2013	Mar. 01, 2013	Oct. 07, 2013
Revenue, Net, Total	$106,322	$100,546	$331,861	$305,168
Climax Metal Products Company [Member]
Business acquisition purchases price allocation assets acquired					13,646
Cash paid for purchase price					10,672
Business acquisition purchase price allocation notes payable and long term debts					2,974
Revenue, Net, Total					14,100
Business acquisition purchase price allocation current assets receivable					-1,206
Business acquisition purchases price allocation current assets inventory					-4,509
Business acquisitions purchases price allocation other assets					-73
Business acquisition purchases price allocation noncurrent assets					-2,466
Business acquisition purchases price allocation goodwill					-5,623
Business acquisition purchases price allocation intangible assets other than goodwill					-3,904
Business acquisition purchases price allocation other noncurrent assets					-10
Business acquisition purchases price allocation current liabilities other liabilities					-2,171
Business acquisition purchases price allocation noncurrent liabilities					-1,974
Business Acquisition Purchases Price Allocation Goodwill After Tax					5,623
Western Precision Aero LLC [Member]
Business acquisition purchases price allocation assets acquired						2,628
Cash paid for purchase price						1,408
Business acquisition purchase price allocation notes payable and long term debts						1,220
Business acquisition purchase price allocation current assets receivable						-646
Business acquisition purchases price allocation current assets inventory						-1,369
Business acquisitions purchases price allocation other assets						-66
Business acquisition purchases price allocation noncurrent assets						-1,290
Business acquisition purchases price allocation intangible assets other than goodwill						-645
Business acquisition purchases price allocation other noncurrent assets						-24
Business acquisition purchases price allocation current liabilities other liabilities						-1,085
Business acquisition purchase price allocation gain on acquisition						-327
Turbine Components Inc [Member]
Revenue, Net, Total							4,000
Business acquisition purchase price allocation current assets receivable							-585
Business acquisition purchases price allocation current assets inventory							-125
Business acquisition purchases price allocation noncurrent assets							-1,231
Business acquisition purchases price allocation goodwill							-2,821
Business acquisition purchases price allocation intangible assets other than goodwill							-441
Business acquisition purchases price allocation other noncurrent assets							-127
Business acquisition purchases price allocation current liabilities other liabilities							-641
Business acquisition purchases price allocation noncurrent liabilities							-766
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total							3,925
Business Combination, Contingent Consideration, Liability							469
Business Acquisition Purchases Price Allocation Goodwill Before Tax							$2,821

Consolidation_and_Restructurin1

Consolidation and Restructuring of Operations (Details Textual) (USD $)	3 Months Ended	12 Months Ended		3 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Mar. 29, 2014	Mar. 30, 2013	Sep. 27, 2014
Restructuring Charges		$1,787	$6,738
Inventory	205,198	198,021
Additional charges related to consolidation of operation	88
Roller Bearings
Restructuring Charges				6,382
Inventory				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
Pre Tax Charges				$6,382