RBC Bearings (RBC) 10-Q 6 Aug 15 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jun. 27, 2015	Jul. 24, 2015
Document Information [Line Items]
Entity Registrant Name	RBC Bearings INC
Entity Central Index Key	1,324,948
Current Fiscal Year End Date	--04-02
Entity Filer Category	Large Accelerated Filer
Trading Symbol	ROLL
Entity Common Stock, Shares Outstanding		23,487,024
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 27, 2015
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Current assets:
Cash and cash equivalents	$ 61,562	$ 125,455
Accounts receivable, net of allowance for doubtful accounts of $1,582 at June 27, 2015 and $860 at March 28, 2015	101,961	76,651
Inventory	255,518	206,158
Deferred income taxes	11,461	12,492
Prepaid expenses and other current assets	8,218	4,628
Total current assets	438,720	425,384
Property, plant and equipment, net	185,313	141,649
Goodwill	259,312	43,439
Intangible assets, net of accumulated amortization of $14,953 at June 27, 2015 and $13,185 at March 28, 2015	212,913	12,028
Other assets	9,820	9,573
Total assets	1,106,078	632,073
Current liabilities:
Accounts payable	39,552	23,459
Accrued expenses and other current liabilities	34,629	17,326
Current portion of long-term debt	8,747	1,233
Total current liabilities	82,928	42,018
Deferred income taxes	12,085	10,126
Long-term debt, less current portion	418,699	7,965
Other non-current liabilities	25,449	22,531
Total liabilities	539,161	82,640
Stockholders’ equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at June 27, 2015 and March 28, 2015; none issued and outstanding	0	0
Common stock, $.01 par value; authorized shares: 60,000,000 at June 27, 2015 and March 28, 2015; issued and outstanding shares: 23,907,343 at June 27, 2015 and 23,833,185 at March 28, 2015	239	238
Additional paid-in capital	266,874	262,091
Accumulated other comprehensive loss	(6,292)	(7,770)
Retained earnings	327,580	314,176
Treasury stock, at cost, 469,941 shares at June 27, 2015 and 439,864 shares at March 28, 2015	(21,484)	(19,302)
Total stockholders’ equity	566,917	549,433
Total liabilities and stockholders’ equity	$ 1,106,078	$ 632,073

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Accounts receivable, allowance for doubtful accounts	$ 1,582	$ 860
Intangible assets, accumulated amortization	$ 14,953	$ 13,185
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	23,907,343	23,833,185
Common stock, outstanding shares	23,907,343	23,833,185
Treasury Stock
Treasury stock, shares	469,941	439,864

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Net sales	$ 142,308	$ 112,984
Cost of sales	89,544	69,163
Gross margin	52,764	43,821
Operating expenses:
Selling, general and administrative	23,725	18,996
Other, net	6,678	614
Total operating expenses	30,403	19,610
Operating income	22,361	24,211
Interest expense, net	1,711	224
Other non-operating (income) expense	606	(267)
Income before income taxes	20,044	24,254
Provision for income taxes	6,640	8,234
Net income	$ 13,404	$ 16,020
Net income per common share:
Basic	$ 0.58	$ 0.70
Diluted	$ 0.57	$ 0.69
Weighted average common shares:
Basic	23,162,560	23,005,437
Diluted	23,536,364	23,364,455
Dividends per Share	$ 0	$ 2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Net income	$ 13,404	$ 16,020
Pension and postretirement liability adjustments, net of taxes	(227)	199
Unrealized gain on investments, net of taxes	0	72
Foreign currency translation adjustments	1,705	(819)
Total comprehensive income	$ 14,882	$ 15,472

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Cash flows from operating activities:
Net income	$ 13,404	$ 16,020
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	3,895	3,561
Excess tax benefits from stock-based compensation	(1,379)	(2,444)
Deferred income taxes	948	185
Amortization of intangible assets	1,768	497
Amortization of deferred financing costs	265	81
Stock-based compensation	2,132	1,767
Other non-cash charges	257	(1)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(54)	2,500
Inventory	(3,266)	(3,139)
Prepaid expenses and other current assets	(3,048)	1,857
Other non-current assets	(1,095)	(794)
Accounts payable	1,063	(804)
Accrued expenses and other current liabilities	5,446	8,005
Other non-current liabilities	1,853	(370)
Net cash provided by operating activities	22,189	26,921
Cash flows from investing activities:
Purchase of property, plant and equipment	(5,270)	(3,488)
Proceeds from sale of assets	4	3
Business acquisition	(500,000)	0
Net cash used in investing activities	(505,266)	(3,485)
Cash flows from financing activities:
Proceeds from revolving credit facility	225,000	0
Proceeds from term loans	200,000	0
Repayments of term loans	(124)	(132)
Finance fees paid in connection with credit facility	(7,122)	0
Exercise of stock options	1,273	2,377
Excess tax benefits from stock-based compensation	1,379	2,444
Repurchase of common stock	(2,182)	(948)
Dividends paid to shareholders	0	(46,014)
Other, net	0	(10)
Net cash (used in) provided by financing activities	418,224	(42,283)
Effect of exchange rate changes on cash	960	(206)
Cash and cash equivalents:
Decrease during the period	(63,893)	(19,053)
Cash, at beginning of period	125,455	121,207
Cash, at end of period	$ 61,562	$ 102,154

Organization and Business

Organization and Business	3 Months Ended
	Jun. 27, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	The consolidated financial statements included herein have been prepared by RBC Bearings Incorporated, a Delaware corporation (collectively with its subsidiaries, the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The March 28, 2015 fiscal year end balance sheet data have been derived from the Company’s audited financial statements, but do not include all disclosures required by generally accepted accounting principles in the United States. The interim financial statements included with this report have been prepared on a consistent basis with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 28, 2015. These statements reflect all adjustments, accruals and estimates consisting only of items of a normal recurring nature, which are, in the opinion of management, necessary for the fair presentation of the consolidated financial condition and consolidated results of operations for the interim periods presented. These financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Annual Report on Form 10-K. The results of operations for the three month period ended June 27, 2015 are not necessarily indicative of the operating results for the entire fiscal year ending April 2, 2016. The three month periods ended June 27, 2015 and June 28, 2014 each include 13 weeks. The amounts shown are in thousands, unless otherwise indicated. In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-04, “Compensation - Retirement Benefits: Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets.” This ASU permits an entity with a fiscal year-end that doesn’t coincide with a month-end, to measure defined benefit plan assets and obligations using the month end that is closest to the entity’s fiscal year-end and apply that consistently from year to year. The practical expedient requires if a contribution or significant event occurs between the month-end date used to measure the defined benefit plan assets and an entity’s fiscal year end, the entity should adjust the measurement of the defined benefit plan assets and obligations to reflect the effects of those contributions and other significant events. This pronouncement is effective for fiscal and interim periods beginning after December 15, 2015. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs.” This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This pronouncement is effective for fiscal and interim periods beginning after December 15, 2015. Early adoption is allowed. Given the requirement for retrospective treatment, the Company is adopting this pronouncement in the first quarter of fiscal 2016. Other than a different presentation within the balance sheet, the adoption of this ASU did not have a material impact on the Company’s financial statements. In January 2015, the FASB issued ASU No. 2015-01, “Income Statement-Extraordinary and Unusual Items.” This update eliminates the concept of extraordinary items and removes the requirements to separately present extraordinary events. This ASU also requires additional disclosures for items that are both unusual in nature and infrequent in occurrence. This pronouncement is effective for fiscal years and interim periods beginning after December 15, 2015 . The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements-Going Concern.” This update requires management to evaluate whether there are conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern, and requires related footnote disclosures. This pronouncement is effective for fiscal years and interim periods beginning after December 15, 2016. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” to clarify existing guidance on revenue recognition. This guidance includes the required steps to achieve the core principle that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This pronouncement is effective for fiscal years and interim periods beginning after December 15, 2016 with no early adoption permitted. The Company has not determined the effect that the adoption of the pronouncement may have on its financial position and/or results of operations. In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” This update requires additional disclosures about discontinued operations and amends the requirements for reporting discontinued operations. Under this ASU only disposals constituting a major financial or operational impact or that represent a strategic shift should be reported as discontinued operations. This update also requires new disclosures for individually material disposals that do not qualify as discontinued operations. This guidance was adopted by the Company at the beginning of the second quarter of fiscal 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Jun. 27, 2015
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, 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). Pension and Currency Postretirement Translation Liability Total Balance at March 28, 2015 $ (93) $ (7,677) $ (7,770) Other comprehensive income (loss) before reclassifications (net of taxes) 1,705 (186) 1,519 Amounts reclassified from accumulated other comprehensive income (loss) — (41) (41) Net current period other comprehensive income (loss) 1,705 (227) 1,478 Balance at June 27, 2015 $ 1,612 $ (7,904) $ (6,292)

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Jun. 27, 2015
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. Three Months Ended June 27, June 28, 2015 2014 Net income $ 13,404 $ 16,020 Denominator for basic net income per common share—weighted-average shares outstanding 23,162,560 23,005,437 Effect of dilution due to employee stock options 373,804 359,018 Denominator for diluted net income per common share — weighted-average shares outstanding 23,536,364 23,364,455 Basic net income per common share $ 0.58 $ 0.70 Diluted net income per common share $ 0.57 $ 0.69 At June 27, 2015, 190,250 227,500

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Jun. 27, 2015
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	3. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Short-term investments are comprised of equity securities and are measured at fair value by using quoted prices in active markets and are classified as Level 1 of the valuation hierarchy.

Inventory

Inventory	3 Months Ended
	Jun. 27, 2015
Inventory, Net [Abstract]
Inventory	4. Inventory June 27, March 28, 2015 2015 Raw materials $ 28,115 $ 18,424 Work in process 73,311 50,243 Finished goods 154,092 137,491 $ 255,518 $ 206,158

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jun. 27, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets Engineered Roller Plain Ball Products Total March 28, 2015 $ 16,007 $ 20,641 $ 5,623 $ 1,168 $ 43,439 Acquisitions — 68,293 — 147,580 215,873 June 27, 2015 $ 16,007 $ 88,934 $ 5,623 $ 148,748 $ 259,312 June 27, 2015 March 28, 2015 Weighted Average Gross Gross Useful Carrying Accumulated Carrying Accumulated Lives Amount Amortization Amount Amortization Product approvals 16 $ 54,568 $ 2,776 $ 4,068 $ 2,372 Customer relationships and lists 14 112,517 5,192 9,017 4,349 Trade names 13 20,102 1,720 2,102 1,372 Distributor agreements 5 722 722 722 722 Patents and trademarks 15 7,823 3,191 7,670 3,039 Domain names 10 437 310 437 299 Other 4 1,197 1,042 1,197 1,032 197,366 14,953 25,213 13,185 Non-amortizable repair station certifications n/a 30,500 — — — Total $ 227,866 $ 14,953 $ 25,213 $ 13,185 1,768 497 2016 $ 7,295 2017 9,658 2018 9,535 2019 9,312 2020 9,205 2021 9,154 2022 and thereafter 128,254

Debt

Debt	3 Months Ended
	Jun. 27, 2015
Debt Instruments [Abstract]
Debt	6. Debt The balances payable under all borrowing facilities are as follows: June 27, March 28, 2015 2015 Revolver and term loan facilities $ 425,000 $ — Debt issuance costs (6,885) — Other 9,331 9,198 Total debt 427,446 9,198 Less: current portion 8,747 1,233 Long-term debt $ 418,699 $ 7,965 New Credit Facility In connection with the Sargent Aerospace & Defense (“Sargent”) acquisition on April 24, 2015 200,000 350,000 Amounts outstanding under the Facilities generally bear interest at (a) a base rate determined by reference to the higher of (1) Wells Fargo’s prime lending rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) the one-month LIBOR rate plus 1% or (b) LIBOR rate plus a specified margin, depending on the type of borrowing being made. 0.50 1.50 The New 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 3.50 1 2.75 1 The Company’s obligations under the New Credit Agreement are secured as well as providing for a pledge of substantially all of the Company’s and RBCA’s assets. The Company and certain of its subsidiaries have also entered into a Guarantee to guarantee RBCA’s obligations under the New Credit Agreement. Approximately $ 3,948 225,000 121,052 Prior Credit Facility On November 30, 2010, the Company entered into a 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 $ 150,000 100,000 25,000 Amounts outstanding under the JP Morgan Credit Agreement generally bear interest at the prime rate or LIBOR plus a specified margin, depending on the type of borrowing being made. The applicable margin is based upon the Company’s consolidated ratio of net debt to adjusted EBITDA, measured at the end of each quarter. As of June 28, 2014, the Company’s margin is 0.5% for prime rate loans and 1.5% for LIBOR rate loans. The JP Morgan Credit Agreement requires the Company to comply with various covenants, including among other things, financial covenants to maintain the following: (1) a ratio of consolidated net debt to adjusted EBITDA, not to exceed 3.25 1 1.5 1 Other Notes Payable On October 1, 2012, Schaublin purchased the land and building, which it occupied and had been leasing, for 14,067 14,910 20 9,300 9,857 2.9 4,767 5,053 8,021 8,581

Income Taxes

Income Taxes	3 Months Ended
	Jun. 27, 2015
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 March 31, 2007. 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 29, 2014. A U.S. federal corporate income tax examination by the Internal Revenue Service for the fiscal year ended March 30, 2013 was deemed effectively settled in the Company’s first quarter of fiscal 2016. The effective income tax rates for the three month periods ended June 27, 2015 and June 28, 2014, were 33.1 34.0 The effective income tax rate for the three month period ended June 27, 2015 of 33.1% includes immaterial discrete items of $ 101 33.6 25 33.9 449

Reportable Segments

Reportable Segments	3 Months Ended
	Jun. 27, 2015
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. With the acquisition and integration of Sargent into the Company’s operating and reportable segment structure, the Company has transitioned the Other segment to a new reportable segment titled Engineered Products. The Company has four reportable business segments; Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products, which are described below. Plain Bearings. Roller Bearings. Ball Bearings. Engineered Products. Three Months Ended June 27, June 28, 2015 2014 Net External Sales Plain $ 65,677 $ 59,873 Roller 30,580 31,765 Ball 12,819 13,545 Engineered Products 33,232 7,801 $ 142,308 $ 112,984 Gross Margin Plain $ 25,948 $ 22,467 Roller 12,895 12,791 Ball 5,183 5,427 Engineered Products 8,738 3,136 $ 52,764 $ 43,821 Selling, General & Administrative Expenses Plain $ 5,483 $ 4,762 Roller 1,490 1,685 Ball 1,368 1,328 Engineered Products 3,946 980 Corporate 11,438 10,241 $ 23,725 $ 18,996 Operating Income Plain $ 20,305 $ 17,553 Roller 11,340 10,952 Ball 3,672 3,953 Engineered Products 2,560 2,125 Corporate (15,516) (10,372) $ 22,361 $ 24,211 Geographic External Sales Domestic $ 122,980 $ 95,046 Foreign 19,328 17,938 $ 142,308 $ 112,984 Intersegment Sales Plain $ 1,139 $ 979 Roller 5,513 4,983 Ball 561 552 Engineered Products 8,111 7,188 $ 15,324 $ 13,702 All intersegment sales are eliminated in consolidation.

Restructuring of Operations

Restructuring of Operations	3 Months Ended
	Jun. 27, 2015
Restructuring and Related Activities [Abstract]
Restructuring of Operations	9. Restructuring of Operations In the second quarter of fiscal 2015, the Company consolidated the manufacturing capacity of its United Kingdom (U.K.) facility into its other manufacturing facilities in order to better align manufacturing abilities and product development. As a result the Company recorded a charge of $ 6,382 88 3,707 6,382 3,131 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 6,738

Acquisitions

Acquisitions	3 Months Ended
	Jun. 27, 2015
Business Combinations [Abstract]
Acquisitions	10. Acquisitions On April 24, 2015, the Company acquired Sargent from Dover Corporation for $ 500,000 The acquisition of Sargent was accounted for as a purchase in accordance with FASB Accounting Standards Codification (“ASC”) Topic 805, Business Combinations As of April 24, 2015 Current assets $ 3,996 Trade receivables 22,983 Inventories 45,231 Property, plant and equipment 41,699 Intangible assets 202,500 Goodwill 215,873 Total assets acquired 532,282 Accounts payable 14,900 Liabilities assumed 17,382 Net assets acquired $ 500,000 The valuation of the net assets acquired of $500,000 was classified as Level 3 in the valuation hierarchy. Level 3 inputs represent unobservable inputs for the asset or liability. The components of Intangible Assets included as part of the Sargent acquisition was as follows: Weighted Average Amortization Period (Years) Gross Value Amortizable intangible assets Customer relationships 25 $ 103,500 Product approvals 25 50,500 Trademarks and tradenames 10 18,000 172,000 Non-amortizable intangible assets Repair station certifications - 30,500 Intangible assets $ 202,500 Included in the Company’s results of operations for the three months ended June 27, 2015 are revenues of $ 34,003 3,825 4,788 The following supplemental pro forma financial information presents the financial results for the three months ended June 27, 2015 and June 28, 2014, as if the acquisition of Sargent had occurred at the beginning of fiscal year 2015. The pro forma financial information includes, where applicable, adjustments for: (i) the estimated amortization of acquired intangible assets, (ii) estimated additional interest expense on acquisition related borrowings, (iii) the income tax effect on the pro forma adjustments using an estimated effective tax rate. The pro forma financial information excludes, where applicable, adjustments for: (i) the estimated impact of inventory purchase accounting adjustments and (ii) the estimated closing costs on the acquisition. Three Months Ended June 27, June 28, 2015 2014 Pro forma net sales $ 150,682 $ 163,190 Pro forma net income 16,665 16,686 Basic earnings per share as reported $ 0.58 $ 0.70 Pro forma basic earnings per share 0.72 0.73 Diluted earnings per share as reported $ 0.57 $ 0.69 Pro forma diluted earnings per share 0.71 0.71 On October 7, 2013, the Company acquired the net assets of Turbine Components Inc. (“TCI”) for approximately $ 3,925 4,000 585 125 1,231 2,821 441 127 641 766 2,821 469 On August 16, 2013, the Company acquired Climax Metal Products Company (“CMP”) located in Mentor, Ohio for $ 13,646 10,672 2,974 14,100 1,206 4,509 73 2,466 5,623 3,904 10 2,171 1,974 5,623

Organization and Business (Poli

Organization and Business (Policies)	3 Months Ended
	Jun. 27, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Adoption of Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-04, “Compensation - Retirement Benefits: Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets.” This ASU permits an entity with a fiscal year-end that doesn’t coincide with a month-end, to measure defined benefit plan assets and obligations using the month end that is closest to the entity’s fiscal year-end and apply that consistently from year to year. The practical expedient requires if a contribution or significant event occurs between the month-end date used to measure the defined benefit plan assets and an entity’s fiscal year end, the entity should adjust the measurement of the defined benefit plan assets and obligations to reflect the effects of those contributions and other significant events. This pronouncement is effective for fiscal and interim periods beginning after December 15, 2015. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs.” This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This pronouncement is effective for fiscal and interim periods beginning after December 15, 2015. Early adoption is allowed. Given the requirement for retrospective treatment, the Company is adopting this pronouncement in the first quarter of fiscal 2016. Other than a different presentation within the balance sheet, the adoption of this ASU did not have a material impact on the Company’s financial statements. In January 2015, the FASB issued ASU No. 2015-01, “Income Statement-Extraordinary and Unusual Items.” This update eliminates the concept of extraordinary items and removes the requirements to separately present extraordinary events. This ASU also requires additional disclosures for items that are both unusual in nature and infrequent in occurrence. This pronouncement is effective for fiscal years and interim periods beginning after December 15, 2015 . The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements-Going Concern.” This update requires management to evaluate whether there are conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern, and requires related footnote disclosures. This pronouncement is effective for fiscal years and interim periods beginning after December 15, 2016. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” to clarify existing guidance on revenue recognition. This guidance includes the required steps to achieve the core principle that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This pronouncement is effective for fiscal years and interim periods beginning after December 15, 2016 with no early adoption permitted. The Company has not determined the effect that the adoption of the pronouncement may have on its financial position and/or results of operations. In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” This update requires additional disclosures about discontinued operations and amends the requirements for reporting discontinued operations. Under this ASU only disposals constituting a major financial or operational impact or that represent a strategic shift should be reported as discontinued operations. This update also requires new disclosures for individually material disposals that do not qualify as discontinued operations. This guidance was adopted by the Company at the beginning of the second quarter of fiscal 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Accumulated Other Comprehensi19

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Jun. 27, 2015
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 Total Balance at March 28, 2015 $ (93) $ (7,677) $ (7,770) Other comprehensive income (loss) before reclassifications (net of taxes) 1,705 (186) 1,519 Amounts reclassified from accumulated other comprehensive income (loss) — (41) (41) Net current period other comprehensive income (loss) 1,705 (227) 1,478 Balance at June 27, 2015 $ 1,612 $ (7,904) $ (6,292)

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Jun. 27, 2015
Earnings Per Share [Abstract]
Schedule Of Calculation Of Weighted-Average Shares Outstanding	The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share: Three Months Ended June 27, June 28, 2015 2014 Net income $ 13,404 $ 16,020 Denominator for basic net income per common share—weighted-average shares outstanding 23,162,560 23,005,437 Effect of dilution due to employee stock options 373,804 359,018 Denominator for diluted net income per common share — weighted-average shares outstanding 23,536,364 23,364,455 Basic net income per common share $ 0.58 $ 0.70 Diluted net income per common share $ 0.57 $ 0.69

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Jun. 27, 2015
Inventory, Net [Abstract]
Inventory	Inventories are stated at the lower of cost or market, using the first-in, first-out method, and are summarized below: June 27, March 28, 2015 2015 Raw materials $ 28,115 $ 18,424 Work in process 73,311 50,243 Finished goods 154,092 137,491 $ 255,518 $ 206,158

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jun. 27, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Goodwill Balances, By Segment	Goodwill Engineered Roller Plain Ball Products Total March 28, 2015 $ 16,007 $ 20,641 $ 5,623 $ 1,168 $ 43,439 Acquisitions — 68,293 — 147,580 215,873 June 27, 2015 $ 16,007 $ 88,934 $ 5,623 $ 148,748 $ 259,312
Schedule Of Intangible Assets	Intangible Assets June 27, 2015 March 28, 2015 Weighted Average Gross Gross Useful Carrying Accumulated Carrying Accumulated Lives Amount Amortization Amount Amortization Product approvals 16 $ 54,568 $ 2,776 $ 4,068 $ 2,372 Customer relationships and lists 14 112,517 5,192 9,017 4,349 Trade names 13 20,102 1,720 2,102 1,372 Distributor agreements 5 722 722 722 722 Patents and trademarks 15 7,823 3,191 7,670 3,039 Domain names 10 437 310 437 299 Other 4 1,197 1,042 1,197 1,032 197,366 14,953 25,213 13,185 Non-amortizable repair station certifications n/a 30,500 — — — Total $ 227,866 $ 14,953 $ 25,213 $ 13,185
Schedule Of Estimated Amortization Expense	Amortization expense for definite-lived intangible assets for the three month periods ended June 27, 2015 and June 28, 2014 was $ 1,768 497 2016 $ 7,295 2017 9,658 2018 9,535 2019 9,312 2020 9,205 2021 9,154 2022 and thereafter 128,254

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jun. 27, 2015
Debt Instruments [Abstract]
Schedule Of Balances Payable Under Borrowing Facilities	The balances payable under all borrowing facilities are as follows: June 27, March 28, 2015 2015 Revolver and term loan facilities $ 425,000 $ — Debt issuance costs (6,885) — Other 9,331 9,198 Total debt 427,446 9,198 Less: current portion 8,747 1,233 Long-term debt $ 418,699 $ 7,965

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Jun. 27, 2015
Segment Reporting [Abstract]
Schedule Of Segment Information	Segment performance is evaluated based on segment net sales and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts. Three Months Ended June 27, June 28, 2015 2014 Net External Sales Plain $ 65,677 $ 59,873 Roller 30,580 31,765 Ball 12,819 13,545 Engineered Products 33,232 7,801 $ 142,308 $ 112,984 Gross Margin Plain $ 25,948 $ 22,467 Roller 12,895 12,791 Ball 5,183 5,427 Engineered Products 8,738 3,136 $ 52,764 $ 43,821 Selling, General & Administrative Expenses Plain $ 5,483 $ 4,762 Roller 1,490 1,685 Ball 1,368 1,328 Engineered Products 3,946 980 Corporate 11,438 10,241 $ 23,725 $ 18,996 Operating Income Plain $ 20,305 $ 17,553 Roller 11,340 10,952 Ball 3,672 3,953 Engineered Products 2,560 2,125 Corporate (15,516) (10,372) $ 22,361 $ 24,211 Geographic External Sales Domestic $ 122,980 $ 95,046 Foreign 19,328 17,938 $ 142,308 $ 112,984 Intersegment Sales Plain $ 1,139 $ 979 Roller 5,513 4,983 Ball 561 552 Engineered Products 8,111 7,188 $ 15,324 $ 13,702

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Jun. 27, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The preliminary purchase price allocation for Sargent was as follows: As of April 24, 2015 Current assets $ 3,996 Trade receivables 22,983 Inventories 45,231 Property, plant and equipment 41,699 Intangible assets 202,500 Goodwill 215,873 Total assets acquired 532,282 Accounts payable 14,900 Liabilities assumed 17,382 Net assets acquired $ 500,000
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	The components of Intangible Assets included as part of the Sargent acquisition was as follows: Weighted Average Amortization Period (Years) Gross Value Amortizable intangible assets Customer relationships 25 $ 103,500 Product approvals 25 50,500 Trademarks and tradenames 10 18,000 $ 172,000 Non-amortizable intangible assets Repair station certifications - 30,500 Intangible assets $ 202,500
Business Acquisition, Pro Forma Information [Table Text Block]	The pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the acquisition been completed as of the date indicated or the results that may be obtained in the future: Three Months Ended June 27, June 28, 2015 2014 Pro forma net sales $ 150,682 $ 163,190 Pro forma net income 16,665 16,686 Basic earnings per share as reported $ 0.58 $ 0.70 Pro forma basic earnings per share 0.72 0.73 Diluted earnings per share as reported $ 0.57 $ 0.69 Pro forma diluted earnings per share 0.71 0.71

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance Beginning, Currency Translation	$ (93)
Other comprehensive income (loss) before reclassifications (net of taxes) Currency Translation	1,705
Amounts reclassified from accumulated other comprehensive income (loss) Currency Translation	0
Net current period other comprehensive income (loss) Currency Translation	1,705	$ (819)
Balance Ending,Currency Translation	1,612
Balance Beginning, Pension and Postretirement Liability	(7,677)
Other comprehensive income (loss) before reclassifications (net of taxes) Pension and Postretirement Liability	(186)
Amounts reclassified from accumulated other comprehensive income (loss) Pension and Postretirement Liability	(41)
Net current period other comprehensive income (loss) Pension and Postretirement Liability	(227)	$ 199
Balance Ending, Pension and Postretirement Liability	(7,904)
Balance Beginning, Total	(7,770)
Other comprehensive income (loss) before reclassifications (net of taxes)	1,519
Amounts reclassified from accumulated other comprehensive income (loss)	(41)
Net current period other comprehensive income (loss)	1,478
Balance Ending, Total	$ (6,292)

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Net Income Loss Per Common Share [Line Items]
Net income	$ 13,404	$ 16,020
Denominator:
Denominator for basic net income per common share-weighted-average shares	23,162,560	23,005,437
Effect of dilution due to employee stock options	373,804	359,018
Denominator for diluted net income per common share-adjusted weighted-average shares	23,536,364	23,364,455
Basic net income per common share	$ 0.58	$ 0.70
Diluted net income per common share	$ 0.57	$ 0.69

Net Income Per Common Share (28

Net Income Per Common Share (Details Textual) - shares	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Net Income Loss Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	190,250	227,500

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Inventory [Line Items]
Raw materials	$ 28,115	$ 18,424
Work in process	73,311	50,243
Finished goods	154,092	137,491
Inventory, total	$ 255,518	$ 206,158

Goodwill and Intangible Asset30

Goodwill and Intangible Assets (Details) $ in Thousands	3 Months Ended
	Jun. 27, 2015USD ($)
Goodwill [Line Items]
Goodwill Beginnning Balance	$ 43,439
Acquisitions	215,873
Goodwill Ending Balance	259,312
Roller [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	16,007
Acquisitions	0
Goodwill Ending Balance	16,007
Plain [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	20,641
Acquisitions	68,293
Goodwill Ending Balance	88,934
Ball [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	5,623
Acquisitions	0
Goodwill Ending Balance	5,623
Engineered Products [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	1,168
Acquisitions	147,580
Goodwill Ending Balance	$ 148,748

Goodwill and Intangible Asset31

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Mar. 28, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 197,366	$ 25,213
Accumulated Amortization	14,953	13,185
Non-amortizable repair station certifications	30,500	0
Total	$ 227,866	25,213
Product approvals [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	16 years
Gross Carrying Amount	$ 54,568	4,068
Accumulated Amortization	$ 2,776	2,372
Customer relationships and lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	14 years
Gross Carrying Amount	$ 112,517	9,017
Accumulated Amortization	$ 5,192	4,349
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	13 years
Gross Carrying Amount	$ 20,102	2,102
Accumulated Amortization	$ 1,720	1,372
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	$ 7,823	7,670
Accumulated Amortization	$ 3,191	3,039
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 310	299
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	4 years
Gross Carrying Amount	$ 1,197	1,197
Accumulated Amortization	$ 1,042	$ 1,032

Goodwill and Intangible Asset32

Goodwill and Intangible Assets (Details 2) $ in Thousands	Jun. 27, 2015USD ($)
Finite-Lived Intangible Assets [Line Items]
2,016	$ 7,295
2,017	9,658
2,018	9,535
2,019	9,312
2,020	9,205
2,021	9,154
2022 and thereafter	$ 128,254

Goodwill and Intangible Asset33

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,768	$ 497

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Mar. 28, 2015
Debt Instrument [Line Items]
Debt issuance costs	$ (6,885)	$ 0
Total debt	427,446	9,198
Less: current portion	8,747	1,233
Long-term debt	418,699	7,965
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	425,000	0
Other Loan [Member]
Debt Instrument [Line Items]
Total debt	$ 9,331	$ 9,198

Debt (Details Textual)

Debt (Details Textual) SFr in Thousands, $ in Thousands	1 Months Ended				3 Months Ended
	Apr. 24, 2015USD ($)	Oct. 01, 2012USD ($)	Oct. 01, 2012CHF (SFr)	Nov. 30, 2010USD ($)	Jun. 27, 2015USD ($)	Jun. 28, 2014USD ($)	Jun. 27, 2015CHF (SFr)	Mar. 28, 2015USD ($)	Oct. 01, 2012CHF (SFr)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Proceeds from Lines of Credit					$ 225,000	$ 0
Line of Credit Facility, Remaining Borrowing Capacity					121,052
Debt Instruments, Issuance Costs					6,885			$ 0
Letter of Credit [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Long-term Line of Credit					3,948
Sargent Aerospace Defense Business [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Business Acquisition, Date of Acquisition Agreement	Apr. 24, 2015
Sargent Aerospace Defense Business [Member] | Debt [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Debt Instrument, Face Amount	$ 200,000
Sargent Aerospace Defense Business [Member] | Base Rate [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Sargent Aerospace Defense Business [Member] | London Interbank Offered Rate (LIBOR) [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Debt Instrument, Description of Variable Rate Basis	higher of (1) Wells Fargos prime lending rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) the one-month LIBOR rate plus 1% or (b) LIBOR rate plus a specified margin, depending on the type of borrowing being made.
Sargent Aerospace Defense Business [Member] | Revolving Credit Facility [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Debt Instrument, Face Amount	$ 350,000
Sargent [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Long-term Line of Credit					225,000
Fixed Rate Residential Mortgage [Member] | Schaublin [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Mortgage loan interest rate		2.90%	2.90%
Cash paid for purchase price		$ 5,053	SFr 4,767
Mortgage loan fixed rate		9,857							SFr 9,300
Mortgage loan					8,581		SFr 8,021
Land and Building [Member] | Schaublin [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Land and building leased		$ 14,910							SFr 14,067
Period for fixed rate on mortgage loan		20 years	20 years
JP Morgan Credit Agreement [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Write off of Deferred Debt Issuance Cost					$ 190
Five-Year Senior Secured Revolving Credit Facility [Member] | JP Morgan Credit Agreement [Member]
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
Prime Rate Loans [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Line of credit facility, interest rate					0.50%		0.50%
LIBOR Rate Loans [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Line of credit facility, interest rate					1.50%		1.50%
Maximum [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Consolidated net debt adjusted EBITDA ratio					3.25
Maximum [Member] | JP Morgan Credit Agreement [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Consolidated fixed charge coverage ratio					1.5
Maximum [Member] | New Credit Agreement [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Consolidated net debt adjusted EBITDA ratio					3.50
Consolidated Interest Coverage Ratio					2.75
Minimum [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Consolidated net debt adjusted EBITDA ratio					1
Minimum [Member] | JP Morgan Credit Agreement [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Consolidated fixed charge coverage ratio					1
Minimum [Member] | New Credit Agreement [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Consolidated net debt adjusted EBITDA ratio					1
Consolidated Interest Coverage Ratio					1

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Income Tax Contingency [Line Items]
Effective income tax rate	33.10%	34.00%
Estimated decrease in credits and state tax	$ 449
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations	$ 101	$ 25
Without Discrete Item [Member]
Income Tax Contingency [Line Items]
Effective income tax rate	33.60%	33.90%

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Segment Reporting Information [Line Items]
Net External Sales	$ 142,308	$ 112,984
Gross Margin	52,764	43,821
Selling, General & Administrative Expenses	23,725	18,996
Operating Income	22,361	24,211
Geographic External Sales	142,308	112,984
Intersegment Sales	15,324	13,702
Plain [Member]
Segment Reporting Information [Line Items]
Net External Sales	65,677	59,873
Gross Margin	25,948	22,467
Selling, General & Administrative Expenses	5,483	4,762
Operating Income	20,305	17,553
Intersegment Sales	1,139	979
Roller [Member]
Segment Reporting Information [Line Items]
Net External Sales	30,580	31,765
Gross Margin	12,895	12,791
Selling, General & Administrative Expenses	1,490	1,685
Operating Income	11,340	10,952
Intersegment Sales	5,513	4,983
Ball [Member]
Segment Reporting Information [Line Items]
Net External Sales	12,819	13,545
Gross Margin	5,183	5,427
Selling, General & Administrative Expenses	1,368	1,328
Operating Income	3,672	3,953
Intersegment Sales	561	552
Engineered Products [Member]
Segment Reporting Information [Line Items]
Net External Sales	33,232	7,801
Gross Margin	8,738	3,136
Selling, General & Administrative Expenses	3,946	980
Operating Income	2,560	2,125
Intersegment Sales	8,111	7,188
Corporate [Member]
Segment Reporting Information [Line Items]
Selling, General & Administrative Expenses	11,438	10,241
Operating Income	(15,516)	(10,372)
Domestic [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	122,980	95,046
Foreign [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	$ 19,328	$ 17,938

Restructuring of Operations (De

Restructuring of Operations (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 28, 2015	Mar. 29, 2014	Mar. 30, 2013	Jun. 27, 2015
Restructuring Cost and Reserve [Line Items]
Inventory	$ 206,158			$ 255,518
Pre Tax Charges		$ 1,787	$ 6,738
Roller Bearings
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	6,382
Inventory	3,707
Discrete tax benefit	3,131
Additional charges related to consolidation of operation	88
Pre Tax Charges	$ 6,382

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Jun. 27, 2015	Apr. 24, 2015	Mar. 28, 2015
Business Acquisition [Line Items]
Goodwill	$ 259,312		$ 43,439
Sargent [Member]
Business Acquisition [Line Items]
Current assets		$ 3,996
Trade receivables		22,983
Inventories		45,231
Property, plant and equipment		41,699
Intangible assets		202,500
Goodwill		215,873
Total assets acquired		532,282
Accounts payable		14,900
Liabilities assumed		17,382
Net assets acquired		$ 500,000

Acquisitions (Details 1)

Acquisitions (Details 1) - Apr. 24, 2015 - Sargent [Member] - USD ($) $ in Thousands	Total
Amortizable intangible assets
Gross Value	$ 172,000
Weighted Average Amortization Period (Years)
Non-amortizable intangible assets
Repair station certifications	$ 30,500
Intangible assets	202,500
Product Approvals [Member]
Amortizable intangible assets
Gross Value	$ 50,500
Weighted Average Amortization Period (Years)	25 years
Trademarks and Trade Names [Member]
Amortizable intangible assets
Gross Value	$ 18,000
Weighted Average Amortization Period (Years)	10 years
Customer Relationships [Member]
Amortizable intangible assets
Gross Value	$ 103,500
Weighted Average Amortization Period (Years)	25 years

Acquisitions (Details 2)

Acquisitions (Details 2) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Business Acquisition [Line Items]
Pro forma net sales	$ 150,682	$ 163,190
Pro forma net income	$ 16,665	$ 16,686
Basic earnings per share as reported	$ 0.58	$ 0.70
Pro forma basic earnings per share	0.72	0.73
Diluted earnings per share as reported	0.57	0.69
Pro forma diluted earnings per share	$ 0.71	$ 0.71

Acquisitions (Details Textual)

Acquisitions (Details Textual) - Entity [Domain] - USD ($) $ in Thousands	Oct. 07, 2013	Aug. 16, 2013	Jun. 27, 2015	Jun. 28, 2014	Apr. 24, 2015	Mar. 28, 2015
Business Acquisition [Line Items]
Revenue, Net, Total			$ 142,308	$ 112,984
Goodwill			259,312			$ 43,439
Net Income (Loss) Attributable to Parent, Total			13,404	$ 16,020
Climax Metal Products Company [Member]
Business Acquisition [Line Items]
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
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
Turbine Components Inc [Member]
Business Acquisition [Line Items]
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
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
Sargent [Member]
Business Acquisition [Line Items]
Revenue, Net, Total			34,003
Business acquisition purchase price allocation current assets receivable					$ 22,983
Business acquisition purchases price allocation current assets inventory					45,231
Goodwill					215,873
Business acquisition purchases price allocation intangible assets other than goodwill					202,500
Business acquisition purchases price allocation noncurrent liabilities					17,382
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total					532,282
Net Income (Loss) Attributable to Parent, Total			3,825
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total					$ 500,000
Acquisition Costs, Period Cost			$ 4,788