RBC Bearings (RBC) 10-Q 3 Nov 16 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Oct. 01, 2016	Oct. 20, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 1, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		23,754,826

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 01, 2016	Apr. 02, 2016
Current assets:
Cash and cash equivalents	$ 37,462	$ 39,208
Accounts receivable, net of allowance for doubtful accounts of $1,326 at October 1, 2016 and $1,324 at April 2, 2016	103,942	102,351
Inventory	287,173	280,537
Prepaid expenses and other current assets	8,832	6,861
Total current assets	437,409	428,957
Property, plant and equipment, net	184,783	184,744
Goodwill	268,059	267,259
Intangible assets, net of accumulated amortization of $26,751 at October 1, 2016 and $22,165 at April 2, 2016	201,573	207,252
Other assets	11,692	10,298
Total assets	1,103,516	1,098,510
Current liabilities:
Accounts payable	35,506	35,597
Accrued expenses and other current liabilities	35,823	42,234
Current portion of long-term debt	11,729	10,486
Total current liabilities	83,058	88,317
Deferred income taxes	3,949	3,208
Long-term debt, less current portion	318,330	353,210
Other non-current liabilities	32,084	32,828
Total liabilities	437,421	477,563
Stockholders' equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at October 1, 2016 and April 2, 2016; none issued and outstanding	0	0
Common stock, $.01 par value; authorized shares: 60,000,000 at October 1, 2016 and April 2, 2016; issued and outstanding shares: 24,406,802 at October 1, 2016 and 24,146,767 at April 2, 2016	244	241
Additional paid-in capital	293,166	279,420
Accumulated other comprehensive loss	(8,328)	(6,990)
Retained earnings	414,338	378,070
Treasury stock, at cost, 652,405 shares at October 1, 2016 and 603,035 shares at April 2, 2016	(33,325)	(29,794)
Total stockholders' equity	666,095	620,947
Total liabilities and stockholders' equity	$ 1,103,516	$ 1,098,510

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 01, 2016	Apr. 02, 2016
Accounts receivable, allowance for doubtful accounts	$ 1,326	$ 1,324
Intangible assets, accumulated amortization	$ 26,751	$ 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	24,406,802	24,146,767
Common stock, outstanding shares	24,406,802	24,146,767
Treasury Stock
Treasury stock, shares	652,405	603,035

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Net sales	$ 153,943	$ 148,696	$ 308,522	$ 291,004
Cost of sales	97,212	96,578	194,540	186,122
Gross margin	56,731	52,118	113,982	104,882
Operating expenses:
Selling, general and administrative	25,188	24,944	50,984	48,669
Other, net	1,989	3,575	4,223	10,253
Total operating expenses	27,177	28,519	55,207	58,922
Operating income	29,554	23,599	58,775	45,960
Interest expense, net	2,255	2,273	4,548	3,984
Other non-operating (income) expense	149	(596)	267	10
Income before income taxes	27,150	21,922	53,960	41,966
Provision for income taxes	8,922	7,403	17,692	14,043
Net income	$ 18,228	$ 14,519	$ 36,268	$ 27,923
Net income per common share:
Basic	$ 0.78	$ 0.63	$ 1.55	$ 1.2
Diluted	$ 0.77	$ 0.62	$ 1.53	$ 1.19
Weighted average common shares:
Basic	23,470,650	23,210,640	23,395,614	23,186,600
Diluted	23,712,717	23,495,285	23,670,000	23,516,537

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Net income	$ 18,228	$ 14,519	$ 36,268	$ 27,923
Pension and postretirement liability adjustments, net of taxes	233	(228)	467	(455)
Foreign currency translation adjustments	(376)	(3,380)	(1,805)	(1,675)
Total comprehensive income	$ 18,085	$ 10,911	$ 34,930	$ 25,793

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Cash flows from operating activities:
Net income	$ 36,268	$ 27,923
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	9,109	8,302
Excess tax benefits from stock-based compensation	(3,019)	(1,682)
Deferred income taxes	991	791
Amortization of intangible assets	4,590	4,170
Amortization of deferred financing costs	712	621
Stock-based compensation	5,952	4,628
Other non-cash charges	41	232
Gain on acquisition	(293)	0
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(1,090)	4,068
Inventory	(5,720)	(9,481)
Prepaid expenses and other current assets	(1,937)	(3,946)
Other non-current assets	(1,527)	(20)
Accounts payable	(399)	(1,206)
Accrued expenses and other current liabilities	(3,943)	769
Other non-current liabilities	(1,222)	5,091
Net cash provided by operating activities	38,513	40,260
Cash flows from investing activities:
Purchase of property, plant and equipment	(9,621)	(9,799)
Proceeds from sale of assets	16	40
Business acquisition	(651)	(500,000)
Net cash used in investing activities	(10,256)	(509,759)
Cash flows from financing activities:
Proceeds from revolving credit facility	0	225,000
Repayments of revolving credit facility	(29,000)	(20,000)
Proceeds from term loans	0	200,000
Repayments of term loans	(5,000)	(5,000)
Payments of notes payable	(239)	(245)
Finance fees paid in connection with credit facility	0	(7,122)
Exercise of stock options	4,778	1,837
Excess tax benefits from stock-based compensation	3,019	1,682
Repurchase of common stock	(3,530)	(7,698)
Net cash (used in) provided by financing activities	(29,972)	388,454
Effect of exchange rate changes on cash	(31)	(333)
Cash and cash equivalents:
Decrease during the period	(1,746)	(81,378)
Cash, at beginning of period	39,208	125,455
Cash, at end of period	$ 37,462	$ 44,077

Organization and Business

Organization and Business	6 Months Ended
	Oct. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	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 October 1, 2016 are not necessarily indicative of the operating results for the entire fiscal year ending April 1, 2017. The three month periods ended October 1, 2016 and September 26, 2015 each include 13 weeks. The amounts shown are in thousands, unless otherwise indicated. Critical Accounting Policies Revenue Recognition. 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 October 1, 2016, 2.3 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 a principal or agent capacity and to recognize revenue in a gross or net manner based on its principal/agent designation. ASU 2014-09 is a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under U.S. GAAP. This update requires the Company to recognize revenue at amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services at the time of transfer. In doing so, the Company will need to use more judgement and make more estimates than under today’s guidance, such estimates include identifying performance obligations in the contracts, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company can either apply a full retrospective adoption or a modified retrospective adoption. This ASU is effective for annual reporting periods beginning after December 15, 2017 and interim periods therein. 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 February 2016, the FASB issued ASU No. 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 ASU No. 2015-16, “Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments.” This ASU allows an acquirer in a business combination to account for measurement-period adjustments during the period in which it determines the amount of the adjustment. An acquirer would also need to capture in the current period any effect on earnings it would have recorded in previous periods if the accounting had been completed at the acquisition date. This pronouncement is effective for fiscal and interim periods beginning after December 15, 2015. Early adoption is permitted. The Company adopted this update effective with their interim period beginning June 28, 2015. In July 2015, the FASB issued ASU No. 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)	6 Months Ended
	Oct. 01, 2016
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). Currency Pension and Total Balance at April 2, 2016 $ 222 $ (7,212) $ (6,990) Other comprehensive income (loss) before reclassifications (net of taxes) (1,805) — (1,805) Amounts reclassified from accumulated other comprehensive income (loss) — 467 467 Net current period other comprehensive income (loss) (1,805) 467 (1,338) Balance at October 1, 2016 $ (1,583) $ (6,745) $ (8,328)

Net Income Per Common Share

Net Income Per Common Share	6 Months Ended
	Oct. 01, 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 Six Months Ended October 1, September 26, October 1, September 26, Net income $ 18,228 $ 14,519 $ 36,268 $ 27,923 Denominator for basic net income per common share—weighted-average shares outstanding 23,470,650 23,210,640 23,395,614 23,186,600 Effect of dilution due to employee stock awards 242,067 284,645 274,386 329,937 Denominator for diluted net income per common share — weighted-average shares outstanding 23,712,717 23,495,285 23,670,000 23,516,537 Basic net income per common share $ 0.78 $ 0.63 $ 1.55 $ 1.20 Diluted net income per common share $ 0.77 $ 0.62 $ 1.53 $ 1.19 At October 1, 2016, 400,750 408,000 73,850

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Oct. 01, 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	6 Months Ended
	Oct. 01, 2016
Inventory, Net [Abstract]
Inventory	4. Inventory October 1, April 2, Raw materials $ 37,393 $ 36,632 Work in process 76,402 73,761 Finished goods 173,378 170,144 $ 287,173 $ 280,537

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Oct. 01, 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 — — — (27) (27) October 1, 2016 $ 16,007 $ 79,597 $ 5,623 $ 166,832 $ 268,059 October 1, 2016 April 2, 2016 Weighted Gross Accumulated Gross Accumulated Product approvals 24 $ 54,333 $ 5,604 $ 54,360 $ 4,488 Customer relationships and lists 24 108,742 10,921 113,409 8,784 Trade names 10 20,009 4,195 20,019 3,211 Distributor agreements 5 722 722 722 722 Patents and trademarks 15 8,684 3,852 8,573 3,546 Domain names 10 437 364 437 342 Other 5 1,197 1,093 1,197 1,072 194,124 26,751 198,717 22,165 Non-amortizable repair station certifications n/a 34,200 — 30,700 — Total $ 228,324 $ 26,751 $ 229,417 $ 22,165 Amortization expense for definite-lived intangible assets for the six month periods ended October 1, 2016 and September 26, 2015 was $ 4,590 4,170 2017 $ 4,815 2018 9,364 2019 9,143 2020 9,033 2021 8,982 2022 8,868 2023 and thereafter 117,168

Debt

Debt	6 Months Ended
	Oct. 01, 2016
Debt Instruments [Abstract]
Debt	6. Debt October 1, April 2, Revolver and term loan facilities 327,500 $ 361,500 Debt issuance costs (5,104) (5,816) Other 7,663 8,012 Total debt $ 330,059 $ 363,696 Less: current portion 11,729 10,486 Long-term debt $ 318,330 $ 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 1.5 140,000 187,500 5,104 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 $ 3,690 206,310 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 7,440 7,663

Income Taxes

Income Taxes	6 Months Ended
	Oct. 01, 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 April 2, 2005. 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 October 1, 2016 and September 26, 2015, were 32.9 33.8 The effective income tax rate for the three month period ended October 1, 2016 of 32.9% includes immaterial discrete items of $ 33 32.7 51 33.5 942

Reportable Segments

Reportable Segments	6 Months Ended
	Oct. 01, 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 Six Months Ended October 1, September 26, October 1, September 26, Net External Sales Plain $ 68,835 $ 67,607 $ 139,285 $ 133,284 Roller 26,795 27,151 54,629 57,731 Ball 14,569 13,122 28,279 25,941 Engineered Products 43,744 40,816 86,329 74,048 $ 153,943 $ 148,696 $ 308,522 $ 291,004 Gross Margin Plain $ 26,603 $ 26,763 $ 53,157 $ 52,711 Roller 11,496 11,355 23,785 24,250 Ball 5,183 5,292 10,487 10,475 Engineered Products 13,449 8,708 26,553 17,446 $ 56,731 $ 52,118 $ 113,982 $ 104,882 Selling, General & Administrative Expenses Plain $ 5,825 $ 5,906 $ 11,815 $ 11,389 Roller 1,526 1,483 2,967 2,973 Ball 1,317 1,370 2,779 2,738 Engineered Products 4,413 4,176 9,306 8,122 Corporate 12,107 12,009 24,117 23,447 $ 25,188 $ 24,944 $ 50,984 $ 48,669 Operating Income Plain $ 19,867 $ 20,784 $ 39,630 $ 41,089 Roller 10,406 9,724 21,194 21,064 Ball 3,724 3,775 7,438 7,447 Engineered Products 7,786 2,303 14,733 4,863 Corporate (12,229) (12,987) (24,220) (28,503) $ 29,554 $ 23,599 $ 58,775 $ 45,960 Geographic External Sales Domestic $ 135,240 $ 130,521 $ 270,417 $ 253,501 Foreign 18,703 18,175 38,105 37,503 $ 153,943 $ 148,696 $ 308,522 $ 291,004 Intersegment Sales Plain $ 889 $ 977 $ 2,102 $ 2,116 Roller 4,264 5,182 8,248 10,695 Ball 326 486 841 1,047 Engineered Products 6,899 7,023 14,416 15,134 $ 12,378 $ 13,668 $ 25,607 $ 28,992 All intersegment sales are eliminated in consolidation.

Acquisitions

Acquisitions	6 Months Ended
	Oct. 01, 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 and six months ended October 1, 2016 are revenues related to the Sargent acquisition of $ 47,748 93,284 5,251 8,583 45,507 79,509 1,407 5,232 1,283 6,071 The following supplemental pro forma financial information presents the financial results for the six months ended October 1, 2016 and September 26, 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. Six Months Ended October 1, September 26, Pro forma net sales $ 308,522 $ 299,378 Pro forma net income 36,522 34,723 Basic earnings per share as reported $ 1.55 $ 1.20 Pro forma basic earnings per share 1.56 1.50 Diluted earnings per share as reported $ 1.53 $ 1.19 Pro forma diluted earnings per share 1.54 1.48

Organization and Business (Poli

Organization and Business (Policies)	6 Months Ended
	Oct. 01, 2016
Accounting Policies [Abstract]
Critical Accounting Policies	Critical Accounting Policies Revenue Recognition. 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 October 1, 2016, 2.3
Adoption of Recent Accounting Pronouncements	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 a principal or agent capacity and to recognize revenue in a gross or net manner based on its principal/agent designation. ASU 2014-09 is a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under U.S. GAAP. This update requires the Company to recognize revenue at amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services at the time of transfer. In doing so, the Company will need to use more judgement and make more estimates than under today’s guidance, such estimates include identifying performance obligations in the contracts, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company can either apply a full retrospective adoption or a modified retrospective adoption. This ASU is effective for annual reporting periods beginning after December 15, 2017 and interim periods therein. 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 February 2016, the FASB issued ASU No. 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 ASU No. 2015-16, “Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments.” This ASU allows an acquirer in a business combination to account for measurement-period adjustments during the period in which it determines the amount of the adjustment. An acquirer would also need to capture in the current period any effect on earnings it would have recorded in previous periods if the accounting had been completed at the acquisition date. This pronouncement is effective for fiscal and interim periods beginning after December 15, 2015. Early adoption is permitted. The Company adopted this update effective with their interim period beginning June 28, 2015. In July 2015, the FASB issued ASU No. 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)	6 Months Ended
	Oct. 01, 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) (1,805) — (1,805) Amounts reclassified from accumulated other comprehensive income (loss) — 467 467 Net current period other comprehensive income (loss) (1,805) 467 (1,338) Balance at October 1, 2016 $ (1,583) $ (6,745) $ (8,328)

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	6 Months Ended
	Oct. 01, 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 Six Months Ended October 1, September 26, October 1, September 26, Net income $ 18,228 $ 14,519 $ 36,268 $ 27,923 Denominator for basic net income per common share—weighted-average shares outstanding 23,470,650 23,210,640 23,395,614 23,186,600 Effect of dilution due to employee stock awards 242,067 284,645 274,386 329,937 Denominator for diluted net income per common share — weighted-average shares outstanding 23,712,717 23,495,285 23,670,000 23,516,537 Basic net income per common share $ 0.78 $ 0.63 $ 1.55 $ 1.20 Diluted net income per common share $ 0.77 $ 0.62 $ 1.53 $ 1.19

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Oct. 01, 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: October 1, April 2, Raw materials $ 37,393 $ 36,632 Work in process 76,402 73,761 Finished goods 173,378 170,144 $ 287,173 $ 280,537

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Oct. 01, 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 — — — (27) (27) October 1, 2016 $ 16,007 $ 79,597 $ 5,623 $ 166,832 $ 268,059
Schedule Of Intangible Assets	Intangible Assets October 1, 2016 April 2, 2016 Weighted Gross Accumulated Gross Accumulated Product approvals 24 $ 54,333 $ 5,604 $ 54,360 $ 4,488 Customer relationships and lists 24 108,742 10,921 113,409 8,784 Trade names 10 20,009 4,195 20,019 3,211 Distributor agreements 5 722 722 722 722 Patents and trademarks 15 8,684 3,852 8,573 3,546 Domain names 10 437 364 437 342 Other 5 1,197 1,093 1,197 1,072 194,124 26,751 198,717 22,165 Non-amortizable repair station certifications n/a 34,200 — 30,700 — Total $ 228,324 $ 26,751 $ 229,417 $ 22,165
Schedule Of Estimated Amortization Expense	Estimated amortization expense for the remaining six months of fiscal 2017, the five succeeding fiscal years and thereafter is as follows: 2017 $ 4,815 2018 9,364 2019 9,143 2020 9,033 2021 8,982 2022 8,868 2023 and thereafter 117,168

Debt (Tables)

Debt (Tables)	6 Months Ended
	Oct. 01, 2016
Debt Instruments [Abstract]
Schedule Of Balances Payable Under Borrowing Facilities	The balances payable under all borrowing facilities are as follows: October 1, April 2, Revolver and term loan facilities 327,500 $ 361,500 Debt issuance costs (5,104) (5,816) Other 7,663 8,012 Total debt $ 330,059 $ 363,696 Less: current portion 11,729 10,486 Long-term debt $ 318,330 $ 353,210

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Oct. 01, 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 Six Months Ended October 1, September 26, October 1, September 26, Net External Sales Plain $ 68,835 $ 67,607 $ 139,285 $ 133,284 Roller 26,795 27,151 54,629 57,731 Ball 14,569 13,122 28,279 25,941 Engineered Products 43,744 40,816 86,329 74,048 $ 153,943 $ 148,696 $ 308,522 $ 291,004 Gross Margin Plain $ 26,603 $ 26,763 $ 53,157 $ 52,711 Roller 11,496 11,355 23,785 24,250 Ball 5,183 5,292 10,487 10,475 Engineered Products 13,449 8,708 26,553 17,446 $ 56,731 $ 52,118 $ 113,982 $ 104,882 Selling, General & Administrative Expenses Plain $ 5,825 $ 5,906 $ 11,815 $ 11,389 Roller 1,526 1,483 2,967 2,973 Ball 1,317 1,370 2,779 2,738 Engineered Products 4,413 4,176 9,306 8,122 Corporate 12,107 12,009 24,117 23,447 $ 25,188 $ 24,944 $ 50,984 $ 48,669 Operating Income Plain $ 19,867 $ 20,784 $ 39,630 $ 41,089 Roller 10,406 9,724 21,194 21,064 Ball 3,724 3,775 7,438 7,447 Engineered Products 7,786 2,303 14,733 4,863 Corporate (12,229) (12,987) (24,220) (28,503) $ 29,554 $ 23,599 $ 58,775 $ 45,960 Geographic External Sales Domestic $ 135,240 $ 130,521 $ 270,417 $ 253,501 Foreign 18,703 18,175 38,105 37,503 $ 153,943 $ 148,696 $ 308,522 $ 291,004 Intersegment Sales Plain $ 889 $ 977 $ 2,102 $ 2,116 Roller 4,264 5,182 8,248 10,695 Ball 326 486 841 1,047 Engineered Products 6,899 7,023 14,416 15,134 $ 12,378 $ 13,668 $ 25,607 $ 28,992

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Oct. 01, 2016
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	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	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	Six Months Ended October 1, September 26, Pro forma net sales $ 308,522 $ 299,378 Pro forma net income 36,522 34,723 Basic earnings per share as reported $ 1.55 $ 1.20 Pro forma basic earnings per share 1.56 1.50 Diluted earnings per share as reported $ 1.53 $ 1.19 Pro forma diluted earnings per share 1.54 1.48

Organization and Business (Deta

Organization and Business (Details Textual)	3 Months Ended
	Oct. 01, 2016
Ship-In-Place Transactions [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of Total Net Sales	2.30%

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance Beginning, Currency Translation			$ 222
Other comprehensive income (loss) before reclassifications (net of taxes) Currency Translation			(1,805)
Amounts reclassified from accumulated other comprehensive income (loss), Currency Translation			0
Net current period other comprehensive income (loss), Currency Translation	$ (376)	$ (3,380)	(1,805)	$ (1,675)
Balance Ending,Currency Translation	(1,583)		(1,583)
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			467
Net current period other comprehensive income (loss), Pension and Postretirement Liability	233	$ (228)	467	$ (455)
Balance Ending, Pension and Postretirement Liability	(6,745)		(6,745)
Balance Beginning, Total			(6,990)
Other comprehensive income (loss) before reclassifications (net of taxes)			(1,805)
Amounts reclassified from accumulated other comprehensive income (loss)			467
Net current period other comprehensive income (loss)			(1,338)
Balance Ending, Total	$ (8,328)		$ (8,328)

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Summary Of Significant Accounting Policies [Line Items]
Net income	$ 18,228	$ 14,519	$ 36,268	$ 27,923
Denominator for basic net income per common share - weighted-average shares outstanding	23,470,650	23,210,640	23,395,614	23,186,600
Effect of dilution due to employee stock awards	242,067	284,645	274,386	329,937
Denominator for diluted net income per common share - weighted-average shares outstanding	23,712,717	23,495,285	23,670,000	23,516,537
Basic net income per common share	$ 0.78	$ 0.63	$ 1.55	$ 1.2
Diluted net income per common share	$ 0.77	$ 0.62	$ 1.53	$ 1.19

Net Income Per Common Share (28

Net Income Per Common Share (Details Textual) - shares	6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Net Income Loss Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	400,750	408,000
Restricted Stock [Member]
Net Income Loss Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		73,850

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Apr. 02, 2016
Inventory [Line Items]
Raw materials	$ 37,393	$ 36,632
Work in process	76,402	73,761
Finished goods	173,378	170,144
Inventory, total	$ 287,173	$ 280,537

Goodwill and Intangible Asset30

Goodwill and Intangible Assets (Details) $ in Thousands	6 Months Ended
	Oct. 01, 2016USD ($)
Goodwill [Line Items]
Goodwill Beginnning Balance	$ 267,259
Acquisition and valuation adjustments	827
Translation adjustments	(27)
Goodwill Ending Balance	268,059
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	(27)
Goodwill Ending Balance	$ 166,832

Goodwill and Intangible Asset31

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	6 Months Ended
	Oct. 01, 2016	Apr. 02, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 194,124	$ 198,717
Accumulated Amortization	26,751	22,165
Non-amortizable repair station certifications	34,200	30,700
Total	$ 228,324	229,417
Product approvals [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 54,333	54,360
Accumulated Amortization	$ 5,604	4,488
Customer relationships and lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 108,742	113,409
Accumulated Amortization	$ 10,921	8,784
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 20,009	20,019
Accumulated Amortization	$ 4,195	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	$ 8,684	8,573
Accumulated Amortization	$ 3,852	3,546
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 364	342
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	5 years
Gross Carrying Amount	$ 1,197	1,197
Accumulated Amortization	$ 1,093	$ 1,072

Goodwill and Intangible Asset32

Goodwill and Intangible Assets (Details 2) $ in Thousands	Oct. 01, 2016USD ($)
Finite-Lived Intangible Assets [Line Items]
2,017	$ 4,815
2,018	9,364
2,019	9,143
2,020	9,033
2,021	8,982
2,022	8,868
2023 and thereafter	$ 117,168

Goodwill and Intangible Asset33

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 4,590	$ 4,170

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Apr. 02, 2016
Debt Instrument [Line Items]
Debt issuance costs	$ (5,104)	$ (5,816)
Total debt	330,059	363,696
Less: current portion	11,729	10,486
Long-term debt	318,330	353,210
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	327,500	361,500
Other Loan [Member]
Debt Instrument [Line Items]
Total debt	$ 7,663	$ 8,012

Debt (Details Textual)

Debt (Details Textual) SFr in Thousands, $ in Thousands	1 Months Ended			6 Months Ended
	Apr. 24, 2015USD ($)	Oct. 01, 2012USD ($)	Oct. 01, 2012CHF (SFr)	Oct. 01, 2016USD ($)	Oct. 01, 2016CHF (SFr)	Apr. 02, 2016USD ($)	Oct. 01, 2012CHF (SFr)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity				$ 206,310
Debt Instruments, Issuance Costs				5,104		$ 5,816
Letter of Credit [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Long-term Line of Credit				3,690
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				140,000
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				7,663	SFr 7,440
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				5,104
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				$ 187,500
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
	Oct. 01, 2016	Sep. 26, 2015
Income Tax Contingency [Line Items]
Effective income tax rate	32.90%	33.80%
Estimated decrease in credits and state tax	$ 942
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	$ 33	$ 51
Without Discrete Item [Member]
Income Tax Contingency [Line Items]
Effective income tax rate	32.70%	33.50%

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Segment Reporting Information [Line Items]
Net External Sales	$ 153,943	$ 148,696	$ 308,522	$ 291,004
Gross Margin	56,731	52,118	113,982	104,882
Selling, General & Administrative Expenses	25,188	24,944	50,984	48,669
Operating Income	29,554	23,599	58,775	45,960
Geographic External Sales	153,943	148,696	308,522	291,004
Intersegment Sales	12,378	13,668	25,607	28,992
Plain [Member]
Segment Reporting Information [Line Items]
Net External Sales	68,835	67,607	139,285	133,284
Gross Margin	26,603	26,763	53,157	52,711
Selling, General & Administrative Expenses	5,825	5,906	11,815	11,389
Operating Income	19,867	20,784	39,630	41,089
Intersegment Sales	889	977	2,102	2,116
Roller [Member]
Segment Reporting Information [Line Items]
Net External Sales	26,795	27,151	54,629	57,731
Gross Margin	11,496	11,355	23,785	24,250
Selling, General & Administrative Expenses	1,526	1,483	2,967	2,973
Operating Income	10,406	9,724	21,194	21,064
Intersegment Sales	4,264	5,182	8,248	10,695
Ball [Member]
Segment Reporting Information [Line Items]
Net External Sales	14,569	13,122	28,279	25,941
Gross Margin	5,183	5,292	10,487	10,475
Selling, General & Administrative Expenses	1,317	1,370	2,779	2,738
Operating Income	3,724	3,775	7,438	7,447
Intersegment Sales	326	486	841	1,047
Engineered Products [Member]
Segment Reporting Information [Line Items]
Net External Sales	43,744	40,816	86,329	74,048
Gross Margin	13,449	8,708	26,553	17,446
Selling, General & Administrative Expenses	4,413	4,176	9,306	8,122
Operating Income	7,786	2,303	14,733	4,863
Intersegment Sales	6,899	7,023	14,416	15,134
Corporate [Member]
Segment Reporting Information [Line Items]
Selling, General & Administrative Expenses	12,107	12,009	24,117	23,447
Operating Income	(12,229)	(12,987)	(24,220)	(28,503)
Domestic [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	135,240	130,521	270,417	253,501
Foreign [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	$ 18,703	$ 18,175	$ 38,105	$ 37,503

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Apr. 02, 2016	Apr. 24, 2015
Business Acquisition [Line Items]
Goodwill	$ 268,059	$ 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		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Business Acquisition [Line Items]
Pro forma net sales			$ 308,522	$ 299,378
Pro forma net income			$ 36,522	$ 34,723
Basic earnings per share as reported	$ 0.78	$ 0.63	$ 1.55	$ 1.2
Pro forma basic earnings per share			1.56	1.5
Diluted earnings per share as reported	$ 0.77	$ 0.62	1.53	1.19
Pro forma diluted earnings per share			$ 1.54	$ 1.48

Acquisitions (Details Textual)

Acquisitions (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015	Apr. 02, 2016	Apr. 24, 2015
Business Acquisition [Line Items]
Revenue, Net, Total	$ 153,943	$ 148,696	$ 308,522	$ 291,004
Net income	18,228	14,519	36,268	27,923
Goodwill	268,059		268,059		$ 267,259
Sargent [Member]
Business Acquisition [Line Items]
Revenue, Net, Total	47,748	45,507	93,284	79,509
Net income	$ 5,251	1,407	$ 8,583	5,232
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						$ 500,000
Acquisition Costs, Period Cost		$ 1,283		$ 6,071
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