RBC Bearings (RBC) 10-Q 4 Aug 16 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jul. 02, 2016	Jul. 22, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 2, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	RBC Bearings INC
Entity Central Index Key	1,324,948
Current Fiscal Year End Date	--04-01
Entity Filer Category	Large Accelerated Filer
Trading Symbol	ROLL
Entity Common Stock, Shares Outstanding		23,752,422

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 02, 2016	Apr. 02, 2016
Current assets:
Cash and cash equivalents	$ 37,261	$ 39,208
Accounts receivable, net of allowance for doubtful accounts of $1,336 at July 2, 2016 and $1,324 at April 2, 2016	101,508	102,351
Inventory	284,341	280,537
Prepaid expenses and other current assets	8,003	6,861
Total current assets	431,113	428,957
Property, plant and equipment, net	184,799	184,744
Goodwill	268,080	267,259
Intangible assets, net of accumulated amortization of $24,380 at July 2, 2016 and $22,165 at April 2, 2016	203,894	207,252
Other assets	10,754	10,298
Total assets	1,098,640	1,098,510
Current liabilities:
Accounts payable	32,493	35,597
Accrued expenses and other current liabilities	42,616	42,234
Current portion of long-term debt	10,478	10,486
Total current liabilities	85,587	88,317
Deferred income taxes	3,431	3,208
Long-term debt, less current portion	333,330	353,210
Other non-current liabilities	31,522	32,828
Total liabilities	453,870	477,563
Stockholders' equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at July 2, 2016 and April 2, 2016; none issued and outstanding	0	0
Common stock, $.01 par value; authorized shares: 60,000,000 at July 2, 2016 and April 2, 2016; issued and outstanding shares: 24,331,242 at July 2, 2016 and 24,146,767 at April 2, 2016	243	241
Additional paid-in capital	289,822	279,420
Accumulated other comprehensive loss	(8,185)	(6,990)
Retained earnings	396,110	378,070
Treasury stock, at cost, 651,004 shares at July 2, 2016 and 603,035 shares at April 2, 2016	(33,220)	(29,794)
Total stockholders' equity	644,770	620,947
Total liabilities and stockholders' equity	$ 1,098,640	$ 1,098,510

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 02, 2016	Apr. 02, 2016
Accounts receivable, allowance for doubtful accounts	$ 1,336	$ 1,324
Intangible assets, accumulated amortization	$ 24,380	$ 22,165
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	24,331,242	24,146,767
Common stock, outstanding shares	24,331,242	24,146,767
Treasury Stock
Treasury stock, shares	651,004	603,035

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Net sales	$ 154,579	$ 142,308
Cost of sales	97,328	89,544
Gross margin	57,251	52,764
Operating expenses:
Selling, general and administrative	25,796	23,725
Other, net	2,234	6,678
Total operating expenses	28,030	30,403
Operating income	29,221	22,361
Interest expense, net	2,293	1,711
Other non-operating (income) expense	118	606
Income before income taxes	26,810	20,044
Provision for income taxes	8,770	6,640
Net income	$ 18,040	$ 13,404
Net income per common share:
Basic	$ 0.77	$ 0.58
Diluted	$ 0.76	$ 0.57
Weighted average common shares:
Basic	23,320,579	23,162,560
Diluted	23,626,751	23,536,364

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Net income	$ 18,040	$ 13,404
Pension and postretirement liability adjustments, net of taxes	234	(227)
Foreign currency translation adjustments	(1,429)	1,705
Total comprehensive income	$ 16,845	$ 14,882

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Cash flows from operating activities:
Net income	$ 18,040	$ 13,404
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	4,527	3,895
Excess tax benefits from stock-based compensation	(2,971)	(1,379)
Deferred income taxes	505	948
Amortization of intangible assets	2,213	1,768
Amortization of deferred financing costs	356	265
Stock-based compensation	2,774	2,132
Other non-cash charges	(8)	257
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	622	(54)
Inventory	(3,850)	(3,266)
Prepaid expenses and other current assets	(1,116)	(3,048)
Other non-current assets	(452)	(1,095)
Accounts payable	(3,049)	1,063
Accrued expenses and other current liabilities	3,140	5,446
Other non-current liabilities	(1,519)	1,853
Net cash provided by operating activities	19,212	22,189
Cash flows from investing activities:
Purchase of property, plant and equipment	(5,166)	(5,270)
Proceeds from sale of assets	10	4
Business acquisition	0	(500,000)
Net cash used in investing activities	(5,156)	(505,266)
Cash flows from financing activities:
Proceeds from revolving credit facility	0	225,000
Repayments of revolving credit facility	(17,500)	0
Proceeds from term loans	0	200,000
Repayments of term loans	(2,620)	(124)
Finance fees paid in connection with credit facility	0	(7,122)
Exercise of stock options	4,659	1,273
Excess tax benefits from stock-based compensation	2,971	1,379
Repurchase of common stock	(3,426)	(2,182)
Net cash (used in) provided by financing activities	(15,916)	418,224
Effect of exchange rate changes on cash	(87)	960
Cash and cash equivalents:
Decrease during the period	(1,947)	(63,893)
Cash, at beginning of period	39,208	125,455
Cash, at end of period	$ 37,261	$ 61,562

Organization and Business

Organization and Business	3 Months Ended
	Jul. 02, 2016
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 April 2, 2016 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 April 2, 2016. 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 July 2, 2016 are not necessarily indicative of the operating results for the entire fiscal year ending April 1, 2017. The three month periods ended July 2, 2016 and June 27, 2015 each include 13 weeks. The amounts shown are in thousands, unless otherwise indicated. Revenue Recognition. In accordance with SEC Staff Accounting Bulletin 101 "Revenue Recognition in Financial Statements as amended by Staff Accounting Bulletin 104,” we recognize revenues principally from the sale of products at the point of passage of title, which is at the time of shipment, except for certain customers for which it occurs when the products reach their destination. We also recognize revenue on a Ship-In-Place basis for two customers who have required that we hold the product after final production is complete. In this case, a written agreement has been executed (at the customer’s request) whereby the customer accepts the risk of loss for product that is invoiced under the Ship-In-Place arrangement. For each transaction for which revenue is recognized under a Ship-In-Place arrangement, all final manufacturing inspections have been completed and customer acceptance has been obtained. In the three months ended July 2, 2016, 2.4 In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards update (“ASU") No. 2016-09: "Improvements to Employee Share-Based Payment Accounting" which amends ASC Topic 718, Compensation - Stock Compensation. This ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. 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 March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which amends the principal-versus-agent implementation guidance in ASU No. 2014-09 (Topic 606), Revenue from Contracts with Customers, issued by the FASB in May 2014. ASU No. 2016-08 clarifies the principal-versus-agent guidance in Topic 606 and requires an entity to determine whether the nature of its promise to provide goods or services to a customer is performed In February 2016, the FASB issued ASU 2016-02, “Leases”. The core principal of ASU 2016-02 is that an entity should recognize on its balance sheet assets and liabilities arising from a lease. In accordance with that principle, ASU 2016-02 requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying leased asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend on the lease classification as a finance or operating lease. This new accounting guidance is effective for public companies for fiscal years beginning after December 15, 2018 under a modified retrospective approach and early adoption is permitted. The Company is currently evaluating the impact this adoption will have on its consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17 (Topic 740): "Balance Sheet Classification of Deferred Taxes". The FASB issued this ASU as part of its simplification initiative to reduce complexity in accounting standards. This ASU eliminates the current requirement that requires an organization to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations with a classified balance sheet are now required to classify all deferred tax assets and liabilities as noncurrent assets or noncurrent liabilities. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period. The Company elected to early adopt this guidance prospectively during the fourth quarter of fiscal year 2016. In September 2015, the FASB issued In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory.” This update requires the company to measure inventory using the lower of cost and net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This ASU applies to companies measuring inventory using methods other than the last-in, first-out (LIFO) and retail inventory methods, including but not limited to the first-in, first-out (FIFO) or average costing methods. 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 April 2015, the FASB issued 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 does not 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 Company has elected to adopt this guidance for the fiscal year ended April 2, 2016. The respective assets and liabilities associated with the defined benefit plans have been valued as of March 31, 2016, with no 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. The Company adopted 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 did not 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.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Jul. 02, 2016
Accumulated Other Comprehensive Income Loss [Abstract]
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). Currency Pension and Total Balance at April 2, 2016 $ 222 $ (7,212) $ (6,990) Other comprehensive income (loss) before reclassifications (net of taxes) (1,429) — (1,429) Amounts reclassified from accumulated other comprehensive income (loss) — 234 234 Net current period other comprehensive income (loss) (1,429) 234 (1,195) Balance at July 2, 2016 $ (1,207) $ (6,978) $ (8,185)

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Jul. 02, 2016
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 July 2, June 27, Net income $ 18,040 $ 13,404 Denominator for basic net income per common share—weighted-average shares outstanding 23,320,579 23,162,560 Effect of dilution due to employee stock awards 306,172 373,804 Denominator for diluted net income per common share — weighted-average shares outstanding 23,626,751 23,536,364 Basic net income per common share $ 0.77 $ 0.58 Diluted net income per common share $ 0.76 $ 0.57 At July 2, 2016, 217,250 190,250

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Jul. 02, 2016
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, if any, 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
	Jul. 02, 2016
Inventory, Net [Abstract]
Inventory	4. Inventory July 2, April 2, Raw materials $ 36,335 $ 36,632 Work in process 78,017 73,761 Finished goods 169,989 170,144 $ 284,341 $ 280,537

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jul. 02, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets Roller Plain Ball Engineered Total April 2, 2016 $ 16,007 $ 77,211 $ 5,623 $ 168,418 $ 267,259 Acquisition and valuation adjustments — 2,386 — (1,559) 827 Translation adjustments — — — (6) (6) July 2, 2016 $ 16,007 $ 79,597 $ 5,623 $ 166,853 $ 268,080 July 2, 2016 April 2, 2016 Weighted Gross Accumulated Gross Accumulated Product approvals 24 $ 54,384 $ 5,044 $ 54,360 $ 4,488 Customer relationships and lists 24 108,738 9,769 113,409 8,784 Trade names 10 20,029 3,699 20,019 3,211 Distributor agreements 5 722 722 722 722 Patents and trademarks 15 8,567 3,710 8,573 3,546 Domain names 10 437 353 437 342 Other 5 1,197 1,083 1,197 1,072 194,074 24,380 198,717 22,165 Non-amortizable repair station certifications n/a 34,200 — 30,700 — Total $ 228,274 $ 24,380 $ 229,417 $ 22,165 Amortization expense for definite-lived intangible assets for the three periods ended July 2, 2016 and June 27, 2015 was $ 2,213 1,768 2017 $ 7,097 2018 9,369 2019 9,147 2020 9,039 2021 8,988 2022 8,873 2023 and thereafter 117,181

Debt

Debt	3 Months Ended
	Jul. 02, 2016
Debt Instruments [Abstract]
Debt	6. Debt July 2, April 2, Revolver and term loan facilities $ 341,500 $ 361,500 Debt issuance costs (5,460) (5,816) Other 7,768 8,012 Total debt $ 343,808 $ 363,696 Less: current portion 10,478 10,486 Long-term debt $ 333,330 $ 353,210 The 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. The applicable margin is based on the Company's consolidated ratio of total net debt to consolidated EBITDA from time to time. Currently, the Company's margin is 0.5 1.5 151,500 190,000 5,460 7,122 The 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 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 Credit Agreement. Approximately $ 3,490 195,210 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 7,556 7,768

Income Taxes

Income Taxes	3 Months Ended
	Jul. 02, 2016
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 July 2, 2016 and June 27, 2015, were 32.7 33.1 The effective income tax rate for the three month period ended July 2, 2016 of 32.7% includes discrete items of $ 215 33.5 101 33.6 142

Reportable Segments

Reportable Segments	3 Months Ended
	Jul. 02, 2016
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. 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 July 2, June 27, Net External Sales Plain $ 70,450 $ 65,677 Roller 27,834 30,580 Ball 13,710 12,819 Engineered Products 42,585 33,232 $ 154,579 $ 142,308 Gross Margin Plain $ 26,554 $ 25,948 Roller 12,289 12,895 Ball 5,304 5,183 Engineered Products 13,104 8,738 $ 57,251 $ 52,764 Selling, General & Administrative Expenses Plain $ 5,990 $ 5,483 Roller 1,441 1,490 Ball 1,462 1,368 Engineered Products 4,893 3,946 Corporate 12,010 11,438 $ 25,796 $ 23,725 Operating Income Plain $ 19,763 $ 20,305 Roller 10,788 11,340 Ball 3,714 3,672 Engineered Products 6,947 2,560 Corporate (11,991) (15,516) $ 29,221 $ 22,361 Geographic External Sales Domestic $ 135,177 $ 122,980 Foreign 19,402 19,328 $ 154,579 $ 142,308 Intersegment Sales Plain $ 1,213 $ 1,139 Roller 3,984 5,513 Ball 515 561 Engineered Products 7,517 8,111 $ 13,229 $ 15,324 All intersegment sales are eliminated in consolidation.

Acquisitions

Acquisitions	3 Months Ended
	Jul. 02, 2016
Business Combinations [Abstract]
Acquisitions	9. 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 224,715 As of Current assets $ 3,086 Trade receivables 24,100 Inventories 49,245 Property, plant and equipment 39,907 Intangible assets 202,500 Goodwill 224,715 Total assets acquired 543,553 Accounts payable 14,900 Liabilities assumed 28,653 Net assets acquired $ 500,000 The valuation of the net assets acquired of $ 500,000 Weighted Average Gross Value Amortizable intangible assets Customer relationships 25 $ 99,800 Product approvals 25 50,500 Trademarks and tradenames 10 18,000 168,300 Non-amortizable intangible assets Repair station certifications - 34,200 Intangible assets $ 202,500 Included in the Company’s results of operations for the three months ended July 2, 2016 and June 27, 2015 are revenues related to the Sargent acquisition of $ 45,536 34,003 3,332 3,825 0 4,788 The following supplemental pro forma financial information presents the financial results for the three months ended July 2, 2016 and June 27, 2015, 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 July 2, June 27, Pro forma net sales $ 154,579 $ 150,682 Pro forma net income 18,294 16,665 Basic earnings per share as reported $ 0.77 $ 0.58 Pro forma basic earnings per share 0.78 0.72 Diluted earnings per share as reported $ 0.76 $ 0.57 Pro forma diluted earnings per share 0.77 0.71

Organization and Business (Poli

Organization and Business (Policies)	3 Months Ended
	Jul. 02, 2016
Accounting Policies [Abstract]
Critical Accounting Policies	Critical Accounting Policies Revenue Recognition. In accordance with SEC Staff Accounting Bulletin 101 "Revenue Recognition in Financial Statements as amended by Staff Accounting Bulletin 104,” we recognize revenues principally from the sale of products at the point of passage of title, which is at the time of shipment, except for certain customers for which it occurs when the products reach their destination. We also recognize revenue on a Ship-In-Place basis for two customers who have required that we hold the product after final production is complete. In this case, a written agreement has been executed (at the customer’s request) whereby the customer accepts the risk of loss for product that is invoiced under the Ship-In-Place arrangement. For each transaction for which revenue is recognized under a Ship-In-Place arrangement, all final manufacturing inspections have been completed and customer acceptance has been obtained. In the three months ended July 2, 2016, 2.4
Adoption of Recent Accounting Pronouncements	In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards update (“ASU") No. 2016-09: "Improvements to Employee Share-Based Payment Accounting" which amends ASC Topic 718, Compensation - Stock Compensation. This ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. 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 March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which amends the principal-versus-agent implementation guidance in ASU No. 2014-09 (Topic 606), Revenue from Contracts with Customers, issued by the FASB in May 2014. ASU No. 2016-08 clarifies the principal-versus-agent guidance in Topic 606 and requires an entity to determine whether the nature of its promise to provide goods or services to a customer is performed In February 2016, the FASB issued ASU 2016-02, “Leases”. The core principal of ASU 2016-02 is that an entity should recognize on its balance sheet assets and liabilities arising from a lease. In accordance with that principle, ASU 2016-02 requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying leased asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend on the lease classification as a finance or operating lease. This new accounting guidance is effective for public companies for fiscal years beginning after December 15, 2018 under a modified retrospective approach and early adoption is permitted. The Company is currently evaluating the impact this adoption will have on its consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17 (Topic 740): "Balance Sheet Classification of Deferred Taxes". The FASB issued this ASU as part of its simplification initiative to reduce complexity in accounting standards. This ASU eliminates the current requirement that requires an organization to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations with a classified balance sheet are now required to classify all deferred tax assets and liabilities as noncurrent assets or noncurrent liabilities. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period. The Company elected to early adopt this guidance prospectively during the fourth quarter of fiscal year 2016. In September 2015, the FASB issued In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory.” This update requires the company to measure inventory using the lower of cost and net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This ASU applies to companies measuring inventory using methods other than the last-in, first-out (LIFO) and retail inventory methods, including but not limited to the first-in, first-out (FIFO) or average costing methods. 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 April 2015, the FASB issued 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 does not 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 Company has elected to adopt this guidance for the fiscal year ended April 2, 2016. The respective assets and liabilities associated with the defined benefit plans have been valued as of March 31, 2016, with no 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. The Company adopted 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 did not 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.

Accumulated Other Comprehensi18

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Jul. 02, 2016
Accumulated Other Comprehensive Income Loss [Abstract]
Schedule Of Accumulated Other Comprehensive Income (Loss)	The following summarizes the activity within each component of accumulated other comprehensive income (loss): Currency Pension and Total Balance at April 2, 2016 $ 222 $ (7,212) $ (6,990) Other comprehensive income (loss) before reclassifications (net of taxes) (1,429) — (1,429) Amounts reclassified from accumulated other comprehensive income (loss) — 234 234 Net current period other comprehensive income (loss) (1,429) 234 (1,195) Balance at July 2, 2016 $ (1,207) $ (6,978) $ (8,185)

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Jul. 02, 2016
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 July 2, June 27, Net income $ 18,040 $ 13,404 Denominator for basic net income per common share—weighted-average shares outstanding 23,320,579 23,162,560 Effect of dilution due to employee stock awards 306,172 373,804 Denominator for diluted net income per common share — weighted-average shares outstanding 23,626,751 23,536,364 Basic net income per common share $ 0.77 $ 0.58 Diluted net income per common share $ 0.76 $ 0.57

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Jul. 02, 2016
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: July 2, April 2, Raw materials $ 36,335 $ 36,632 Work in process 78,017 73,761 Finished goods 169,989 170,144 $ 284,341 $ 280,537

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jul. 02, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Goodwill Balances, By Segment	Goodwill Roller Plain Ball Engineered Total April 2, 2016 $ 16,007 $ 77,211 $ 5,623 $ 168,418 $ 267,259 Acquisition and valuation adjustments — 2,386 — (1,559) 827 Translation adjustments — — — (6) (6) July 2, 2016 $ 16,007 $ 79,597 $ 5,623 $ 166,853 $ 268,080
Schedule Of Intangible Assets	Intangible Assets July 2, 2016 April 2, 2016 Weighted Gross Accumulated Gross Accumulated Product approvals 24 $ 54,384 $ 5,044 $ 54,360 $ 4,488 Customer relationships and lists 24 108,738 9,769 113,409 8,784 Trade names 10 20,029 3,699 20,019 3,211 Distributor agreements 5 722 722 722 722 Patents and trademarks 15 8,567 3,710 8,573 3,546 Domain names 10 437 353 437 342 Other 5 1,197 1,083 1,197 1,072 194,074 24,380 198,717 22,165 Non-amortizable repair station certifications n/a 34,200 — 30,700 — Total $ 228,274 $ 24,380 $ 229,417 $ 22,165
Schedule Of Estimated Amortization Expense	Estimated amortization expense for the remaining nine months of fiscal 2017, the five succeeding fiscal years and thereafter is as follows: 2017 $ 7,097 2018 9,369 2019 9,147 2020 9,039 2021 8,988 2022 8,873 2023 and thereafter 117,181

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jul. 02, 2016
Debt Instruments [Abstract]
Schedule Of Balances Payable Under Borrowing Facilities	The balances payable under all borrowing facilities are as follows: July 2, April 2, Revolver and term loan facilities $ 341,500 $ 361,500 Debt issuance costs (5,460) (5,816) Other 7,768 8,012 Total debt $ 343,808 $ 363,696 Less: current portion 10,478 10,486 Long-term debt $ 333,330 $ 353,210

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Jul. 02, 2016
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 July 2, June 27, Net External Sales Plain $ 70,450 $ 65,677 Roller 27,834 30,580 Ball 13,710 12,819 Engineered Products 42,585 33,232 $ 154,579 $ 142,308 Gross Margin Plain $ 26,554 $ 25,948 Roller 12,289 12,895 Ball 5,304 5,183 Engineered Products 13,104 8,738 $ 57,251 $ 52,764 Selling, General & Administrative Expenses Plain $ 5,990 $ 5,483 Roller 1,441 1,490 Ball 1,462 1,368 Engineered Products 4,893 3,946 Corporate 12,010 11,438 $ 25,796 $ 23,725 Operating Income Plain $ 19,763 $ 20,305 Roller 10,788 11,340 Ball 3,714 3,672 Engineered Products 6,947 2,560 Corporate (11,991) (15,516) $ 29,221 $ 22,361 Geographic External Sales Domestic $ 135,177 $ 122,980 Foreign 19,402 19,328 $ 154,579 $ 142,308 Intersegment Sales Plain $ 1,213 $ 1,139 Roller 3,984 5,513 Ball 515 561 Engineered Products 7,517 8,111 $ 13,229 $ 15,324

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Jul. 02, 2016
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The purchase price allocation for Sargent was as follows: As of Current assets $ 3,086 Trade receivables 24,100 Inventories 49,245 Property, plant and equipment 39,907 Intangible assets 202,500 Goodwill 224,715 Total assets acquired 543,553 Accounts payable 14,900 Liabilities assumed 28,653 Net assets acquired $ 500,000
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The components of intangible assets included as part of the Sargent acquisition was as follows: Weighted Average Gross Value Amortizable intangible assets Customer relationships 25 $ 99,800 Product approvals 25 50,500 Trademarks and tradenames 10 18,000 168,300 Non-amortizable intangible assets Repair station certifications - 34,200 Intangible assets $ 202,500
Business Acquisition, Pro Forma Information	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 July 2, June 27, Pro forma net sales $ 154,579 $ 150,682 Pro forma net income 18,294 16,665 Basic earnings per share as reported $ 0.77 $ 0.58 Pro forma basic earnings per share 0.78 0.72 Diluted earnings per share as reported $ 0.76 $ 0.57 Pro forma diluted earnings per share 0.77 0.71

Organization and Business (Deta

Organization and Business (Details Textual)	3 Months Ended
	Jul. 02, 2016
Ship-In-Place Transactions [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of Total Net Sales	2.40%

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance Beginning, Currency Translation	$ 222
Other comprehensive income (loss) before reclassifications (net of taxes), Currency Translation	(1,429)
Amounts reclassified from accumulated other comprehensive income (loss), Currency Translation	0
Net current period other comprehensive income (loss), Currency Translation	(1,429)	$ 1,705
Balance Ending,Currency Translation	(1,207)
Balance Beginning, Pension and Postretirement Liability	(7,212)
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	234
Net current period other comprehensive income (loss), Pension and Postretirement Liability	234	$ (227)
Balance Ending, Pension and Postretirement Liability	(6,978)
Balance Beginning, Total	(6,990)
Other comprehensive income (loss) before reclassifications (net of taxes)	(1,429)
Amounts reclassified from accumulated other comprehensive income (loss)	234
Net current period other comprehensive income (loss)	(1,195)
Balance Ending, Total	$ (8,185)

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Summary Of Significant Accounting Policies [Line Items]
Net income	$ 18,040	$ 13,404
Denominator:
Denominator for basic net income per common share - weighted-average shares outstanding	23,320,579	23,162,560
Effect of dilution due to employee stock awards	306,172	373,804
Denominator for diluted net income per common share - weighted-average shares outstanding	23,626,751	23,536,364
Basic net income per common share	$ 0.77	$ 0.58
Diluted net income per common share	$ 0.76	$ 0.57

Net Income Per Common Share (28

Net Income Per Common Share (Details Textual) - shares	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Net Income Loss Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	217,250	190,250

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jul. 02, 2016	Apr. 02, 2016
Inventory [Line Items]
Raw materials	$ 36,335	$ 36,632
Work in process	78,017	73,761
Finished goods	169,989	170,144
Inventory, total	$ 284,341	$ 280,537

Goodwill and Intangible Asset30

Goodwill and Intangible Assets (Details) $ in Thousands	3 Months Ended
	Jul. 02, 2016USD ($)
Goodwill [Line Items]
Goodwill Beginnning Balance	$ 267,259
Acquisition and valuation adjustments	827
Translation adjustments	(6)
Goodwill Ending Balance	268,080
Roller [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	16,007
Acquisition and valuation adjustments	0
Translation adjustments	0
Goodwill Ending Balance	16,007
Plain [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	77,211
Acquisition and valuation adjustments	2,386
Translation adjustments	0
Goodwill Ending Balance	79,597
Ball [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	5,623
Acquisition and valuation adjustments	0
Translation adjustments	0
Goodwill Ending Balance	5,623
Engineered Products [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	168,418
Acquisition and valuation adjustments	(1,559)
Translation adjustments	(6)
Goodwill Ending Balance	$ 166,853

Goodwill and Intangible Asset31

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2016	Apr. 02, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 194,074	$ 198,717
Accumulated Amortization	24,380	22,165
Non-amortizable repair station certifications	34,200	30,700
Total	$ 228,274	229,417
Product approvals [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 54,384	54,360
Accumulated Amortization	$ 5,044	4,488
Customer relationships and lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 108,738	113,409
Accumulated Amortization	$ 9,769	8,784
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 20,029	20,019
Accumulated Amortization	$ 3,699	3,211
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	$ 8,567	8,573
Accumulated Amortization	$ 3,710	3,546
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 353	342
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	5 years
Gross Carrying Amount	$ 1,197	1,197
Accumulated Amortization	$ 1,083	$ 1,072

Goodwill and Intangible Asset32

Goodwill and Intangible Assets (Details 2) $ in Thousands	Jul. 02, 2016USD ($)
Finite-Lived Intangible Assets [Line Items]
2,017	$ 7,097
2,018	9,369
2,019	9,147
2,020	9,039
2,021	8,988
2,022	8,873
2023 and thereafter	$ 117,181

Goodwill and Intangible Asset33

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 2,213	$ 1,768

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Jul. 02, 2016	Apr. 02, 2016
Debt Instrument [Line Items]
Debt issuance costs	$ (5,460)	$ (5,816)
Total debt	343,808	363,696
Less: current portion	10,478	10,486
Long-term debt	333,330	353,210
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	341,500	361,500
Other Loan [Member]
Debt Instrument [Line Items]
Total debt	$ 7,768	$ 8,012

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)	Jul. 02, 2016USD ($)	Jul. 02, 2016CHF (SFr)	Apr. 02, 2016USD ($)	Oct. 01, 2012CHF (SFr)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity				$ 195,210
Debt Instruments, Issuance Costs				5,460		$ 5,816
Letter of Credit [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Long-term Line of Credit				3,490
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] | 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 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.
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
Line of Credit, Current				151,500
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				7,768	SFr 7,556
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
New Credit Agreement [Member] | Sargent Aerospace Defense Business [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Debt Instruments, Issuance Costs				5,460
Debt Issuance Original Amount				7,122
Term Loan [Member] | Sargent Aerospace Defense Business [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Debt Instrument, Face Amount	$ 200,000
Line of Credit, Current				$ 190,000
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] | 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
	Jul. 02, 2016	Jun. 27, 2015
Income Tax Contingency [Line Items]
Effective income tax rate	32.70%	33.10%
Estimated decrease in credits and state tax	$ 142
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	$ 215	$ 101
Without Discrete Item [Member]
Income Tax Contingency [Line Items]
Effective income tax rate	33.50%	33.60%

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Segment Reporting Information [Line Items]
Net External Sales	$ 154,579	$ 142,308
Gross Margin	57,251	52,764
Selling, General & Administrative Expenses	25,796	23,725
Operating Income	29,221	22,361
Geographic External Sales	154,579	142,308
Intersegment Sales	13,229	15,324
Plain [Member]
Segment Reporting Information [Line Items]
Net External Sales	70,450	65,677
Gross Margin	26,554	25,948
Selling, General & Administrative Expenses	5,990	5,483
Operating Income	19,763	20,305
Intersegment Sales	1,213	1,139
Roller [Member]
Segment Reporting Information [Line Items]
Net External Sales	27,834	30,580
Gross Margin	12,289	12,895
Selling, General & Administrative Expenses	1,441	1,490
Operating Income	10,788	11,340
Intersegment Sales	3,984	5,513
Ball [Member]
Segment Reporting Information [Line Items]
Net External Sales	13,710	12,819
Gross Margin	5,304	5,183
Selling, General & Administrative Expenses	1,462	1,368
Operating Income	3,714	3,672
Intersegment Sales	515	561
Engineered Products [Member]
Segment Reporting Information [Line Items]
Net External Sales	42,585	33,232
Gross Margin	13,104	8,738
Selling, General & Administrative Expenses	4,893	3,946
Operating Income	6,947	2,560
Intersegment Sales	7,517	8,111
Corporate [Member]
Segment Reporting Information [Line Items]
Selling, General & Administrative Expenses	12,010	11,438
Operating Income	(11,991)	(15,516)
Domestic [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	135,177	122,980
Foreign [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	$ 19,402	$ 19,328

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Jul. 02, 2016	Apr. 02, 2016	Apr. 24, 2015
Business Acquisition [Line Items]
Goodwill	$ 268,080	$ 267,259
Sargent [Member]
Business Acquisition [Line Items]
Current assets			$ 3,086
Trade receivables			24,100
Inventories			49,245
Property, plant and equipment			39,907
Intangible assets			202,500
Goodwill			224,715
Total assets acquired			543,553
Accounts payable			14,900
Liabilities assumed			28,653
Net assets acquired			$ 500,000

Acquisitions (Details 1)

Acquisitions (Details 1) - Sargent [Member] $ in Thousands	1 Months Ended
	Apr. 24, 2015USD ($)
Amortizable intangible assets
Gross Value	$ 168,300
Weighted Average Amortization Period (Years)	0 years
Non-amortizable intangible assets
Repair station certifications	$ 34,200
Intangible assets	202,500
Customer Relationships [Member]
Amortizable intangible assets
Gross Value	$ 99,800
Weighted Average Amortization Period (Years)	25 years
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

Acquisitions (Details 2)

Acquisitions (Details 2) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Business Acquisition [Line Items]
Pro forma net sales	$ 154,579	$ 150,682
Pro forma net income	$ 18,294	$ 16,665
Basic earnings per share as reported	$ 0.77	$ 0.58
Pro forma basic earnings per share	0.78	0.72
Diluted earnings per share as reported	0.76	0.57
Pro forma diluted earnings per share	$ 0.77	$ 0.71

Acquisitions (Details Textual)

Acquisitions (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Apr. 02, 2016	Apr. 24, 2015
Business Acquisition [Line Items]
Revenue, Net, Total	$ 154,579	$ 142,308
Net income	18,040	13,404
Goodwill	268,080		$ 267,259
Sargent [Member]
Business Acquisition [Line Items]
Revenue, Net, Total	45,536	34,003
Net income	3,332	3,825
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net				$ 500,000
Acquisition Costs, Period Cost	$ 0	$ 4,788
Goodwill				224,715
Sargent [Member] | Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net				$ 500,000