RBC Bearings (RBC) 10-Q 8 Feb 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Dec. 31, 2016	Jan. 27, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
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		23,991,435

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Apr. 02, 2016
Current assets:
Cash and cash equivalents	$ 39,472	$ 39,208
Accounts receivable, net of allowance for doubtful accounts of $1,012 at December 31, 2016 and $1,324 at April 2, 2016	98,312	102,351
Inventory	287,374	280,537
Prepaid expenses and other current assets	12,074	6,861
Total current assets	437,232	428,957
Property, plant and equipment, net	181,142	184,744
Goodwill	268,031	267,259
Intangible assets, net of accumulated amortization of $27,870 at December 31, 2016 and $22,165 at April 2, 2016	199,107	207,252
Other assets	12,197	10,298
Total assets	1,097,709	1,098,510
Current liabilities:
Accounts payable	37,196	35,597
Accrued expenses and other current liabilities	41,038	42,234
Current portion of long-term debt	12,957	10,486
Total current liabilities	91,191	88,317
Deferred income taxes	6,675	3,208
Long-term debt, less current portion	281,986	353,210
Other non-current liabilities	32,329	32,828
Total liabilities	412,181	477,563
Stockholders' equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at December 31, 2016 and April 2, 2016; none issued and outstanding	0	0
Common stock, $.01 par value; authorized shares: 60,000,000 at December 31, 2016 and April 2, 2016; issued and outstanding shares: 24,653,302 at December 31, 2016 and 24,146,767 at April 2, 2016	247	241
Additional paid-in capital	304,765	279,420
Accumulated other comprehensive loss	(12,048)	(6,990)
Retained earnings	427,108	378,070
Treasury stock, at cost, 667,892 shares at December 31, 2016 and 603,035 shares at April 2, 2016	(34,544)	(29,794)
Total stockholders' equity	685,528	620,947
Total liabilities and stockholders' equity	$ 1,097,709	$ 1,098,510

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Apr. 02, 2016
Accounts receivable, allowance for doubtful accounts	$ 1,012	$ 1,324
Intangible assets, accumulated amortization	$ 27,870	$ 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	24,653,302	24,146,767
Common stock, outstanding shares	24,653,302	24,146,767
Treasury Stock
Treasury stock, shares	667,892	603,035

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Net sales	$ 146,656	$ 144,216	$ 455,178	$ 435,220
Cost of sales	94,271	90,695	288,811	276,817
Gross margin	52,385	53,521	166,367	158,403
Operating expenses:
Selling, general and administrative	25,712	23,850	76,696	72,519
Other, net	6,144	2,619	10,367	12,872
Total operating expenses	31,856	26,469	87,063	85,391
Operating income	20,529	27,052	79,304	73,012
Interest expense, net	2,111	2,238	6,659	6,222
Other non-operating (income) expense	(216)	(54)	51	(44)
Income before income taxes	18,634	24,868	72,594	66,834
Provision for income taxes	5,864	7,821	23,556	21,864
Net income	$ 12,770	$ 17,047	$ 49,038	$ 44,970
Net income per common share:
Basic	$ 0.54	$ 0.73	$ 2.09	$ 1.94
Diluted	$ 0.54	$ 0.73	$ 2.07	$ 1.91
Weighted average common shares:
Basic	23,581,921	23,220,707	23,457,717	23,197,969
Diluted	23,813,780	23,492,321	23,719,121	23,508,348

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Net income	$ 12,770	$ 17,047	$ 49,038	$ 44,970
Pension and postretirement liability adjustments, net of taxes	234	1,137	701	682
Foreign currency translation adjustments	(3,954)	(1,342)	(5,759)	(3,017)
Total comprehensive income	$ 9,050	$ 16,842	$ 43,980	$ 42,635

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015
Cash flows from operating activities:
Net income	$ 49,038	$ 44,970
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	13,557	12,549
Excess tax benefits from stock-based compensation	(4,870)	(2,509)
Deferred income taxes	3,717	1,880
Amortization of intangible assets	6,921	6,621
Amortization of deferred financing costs	1,068	977
Stock-based compensation	8,914	7,193
Impairment charges	1,443	0
Loss on disposal of fixed assets	2,457	0
Gain on acquisition	(293)	0
Other non-cash charges	0	209
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	3,954	10,806
Inventory	(7,293)	(21,316)
Prepaid expenses and other current assets	(5,238)	(3,001)
Other non-current assets	(2,282)	(1,332)
Accounts payable	1,466	(3,495)
Accrued expenses and other current liabilities	2,123	518
Other non-current liabilities	(107)	7,730
Net cash provided by operating activities	74,575	61,800
Cash flows from investing activities:
Purchase of property, plant and equipment	(14,415)	(14,635)
Proceeds from sale of assets	107	64
Business acquisition	(651)	(500,000)
Net cash used in investing activities	(14,959)	(514,571)
Cash flows from financing activities:
Proceeds from revolving credit facility	0	225,000
Repayments of revolving credit facility	(61,500)	(37,500)
Proceeds from term loans	0	200,000
Repayments of term loans	(7,500)	(5,000)
Payments of notes payable	(353)	(361)
Finance fees paid in connection with credit facility	0	(7,122)
Exercise of stock options	11,567	4,072
Excess tax benefits from stock-based compensation	4,870	2,509
Repurchase of common stock	(4,750)	(10,470)
Net cash (used in) provided by financing activities	(57,666)	371,128
Effect of exchange rate changes on cash	(1,686)	591
Cash and cash equivalents:
Decrease during the period	264	(81,052)
Cash, at beginning of period	39,208	125,455
Cash, at end of period	$ 39,472	$ 44,403

Organization and Business

Organization and Business	9 Months Ended
	Dec. 31, 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 December 31, 2016 are not necessarily indicative of the operating results for the entire fiscal year ending April 1, 2017. The three month periods ended December 31, 2016 and December 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 December 31, 2016, 2.9 Adoption of Recent Accounting Pronouncements In October 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards update (“ASU") No. 2016-16, “Income Taxes”, in an effort to improve the accounting for the income tax consequences of intra-equity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This ASU establishes the requirement that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 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 August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows”, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 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 statements of cash flows. In March 2016, the FASB issued 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 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 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)	9 Months Ended
	Dec. 31, 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) (5,759) — (5,759) Amounts reclassified from accumulated other comprehensive income (loss) — 701 701 Net current period other comprehensive income (loss) (5,759) 701 (5,058) Balance at December 31, 2016 $ (5,537) $ (6,511) $ (12,048)

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Dec. 31, 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 Nine Months Ended December 31, December 26, December 31, December 26, Net income $ 12,770 $ 17,047 $ 49,038 $ 44,970 Denominator for basic net income per common share—weighted-average shares outstanding 23,581,921 23,220,707 23,457,717 23,197,969 Effect of dilution due to employee stock awards 231,859 271,614 261,404 310,379 Denominator for diluted net income per common share — weighted-average shares outstanding 23,813,780 23,492,321 23,719,121 23,508,348 Basic net income per common share $ 0.54 $ 0.73 $ 2.09 $ 1.94 Diluted net income per common share $ 0.54 $ 0.73 $ 2.07 $ 1.91 At December 31, 2016, 449,500 81,650 444,250 65,600

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 2016
Inventory, Net [Abstract]
Inventory	4. Inventory December 31, April 2, Raw materials $ 38,383 $ 36,632 Work in process 74,936 73,761 Finished goods 174,055 170,144 $ 287,374 $ 280,537

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Dec. 31, 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 — — — (55) (55) December 31, 2016 $ 16,007 $ 79,597 $ 5,623 $ 166,804 $ 268,031 December 31, 2016 April 2, 2016 Weighted Gross Accumulated Gross Accumulated Product approvals 24 $ 53,842 $ 5,915 $ 54,360 $ 4,488 Customer relationships and lists 24 107,852 11,203 113,409 8,784 Trade names 10 19,912 4,650 20,019 3,211 Distributor agreements 5 722 722 722 722 Patents and trademarks 15 8,863 3,995 8,573 3,546 Domain names 10 437 375 437 342 Other 5 1,149 1,010 1,197 1,072 192,777 27,870 198,717 22,165 Non-amortizable repair station certifications n/a 34,200 — 30,700 — Total $ 226,977 $ 27,870 $ 229,417 $ 22,165 Amortization expense for definite-lived intangible assets for the nine month periods ended December 31, 2016 and December 26, 2015 was $ 6,921 6,621 261 2017 $ 2,770 2018 9,324 2019 9,101 2020 8,994 2021 8,943 2022 8,820 2023 and thereafter 116,955

Debt

Debt	9 Months Ended
	Dec. 31, 2016
Debt Instruments [Abstract]
Debt	6. Debt December 31, April 2, Revolver and term loan facilities $ 292,500 $ 361,500 Debt issuance costs (4,748) (5,816) Other 7,191 8,012 Total debt $ 294,943 $ 363,696 Less: current portion 12,957 10,486 Long-term debt $ 281,986 $ 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 1.5 107,500 185,000 4,748 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 $ 3,690 238,810 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 7,324 7,191

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 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 December 31, 2016 and December 26, 2015, were 31.5 31.5 The effective income tax rate for the three month period ended December 31, 2016 of 31.5% includes immaterial discrete items of $56. The effective income tax rate without discrete items for the three month period ended December 31, 2016 would have been 31.8%. The effective income tax rate for the three month period ended December 26, 2015 of 31.5% includes immaterial discrete items of $154. The effective income tax rate without discrete items for the three month period ended December 26, 2015 would have been 32.1%. The Company believes it is reasonably possible that some of its unrecognized tax positions may be effectively settled within the next twelve months due to the closing of audits and the statute of limitations expiring in varying jurisdictions. The decrease, pertaining primarily to credits and state tax, is estimated to be approximately $314.

Reportable Segments

Reportable Segments	9 Months Ended
	Dec. 31, 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. Segment performance is evaluated based on segment net sales and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts. Three Months Ended Nine Months Ended December 31, December 26, December 31, December 26, Net External Sales Plain $ 65,822 $ 64,171 $ 205,107 $ 197,455 Roller 26,157 26,294 80,786 84,025 Ball 13,700 12,850 41,979 38,791 Engineered Products 40,977 40,901 127,306 114,949 $ 146,656 $ 144,216 $ 455,178 $ 435,220 Gross Margin Plain $ 26,814 $ 22,690 $ 79,971 $ 75,401 Roller 6,397 11,517 30,182 35,767 Ball 5,336 5,202 15,823 15,677 Engineered Products 13,838 14,112 40,391 31,558 $ 52,385 $ 53,521 $ 166,367 $ 158,403 Selling, General & Administrative Expenses Plain $ 6,192 $ 4,765 $ 18,007 $ 16,154 Roller 1,517 1,480 4,484 4,453 Ball 1,384 1,368 4,163 4,106 Engineered Products 4,534 5,311 13,840 13,433 Corporate 12,085 10,926 36,202 34,373 $ 25,712 $ 23,850 $ 76,696 $ 72,519 Operating Income Plain $ 18,065 $ 13,737 $ 57,695 $ 54,826 Roller 2,761 10,016 23,955 31,080 Ball 3,814 3,634 11,252 11,081 Engineered Products 7,831 10,585 22,564 15,448 Corporate (11,942) (10,920) (36,162) (39,423) $ 20,529 $ 27,052 $ 79,304 $ 73,012 Geographic External Sales Domestic $ 129,212 $ 126,070 $ 399,629 $ 379,571 Foreign 17,444 18,146 55,549 55,649 $ 146,656 $ 144,216 $ 455,178 $ 435,220 Intersegment Sales Plain $ 1,146 $ 759 $ 3,248 $ 2,875 Roller 3,264 4,300 11,512 14,995 Ball 370 635 1,211 1,682 Engineered Products 6,767 7,335 21,183 22,469 $ 11,547 $ 13,029 $ 37,154 $ 42,021 All intersegment sales are eliminated in consolidation.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 2016 are revenues related to the Sargent acquisition of $ 44,837 138,121 5,671 14,254 43,862 123,371 3,769 9,001 25 6,096 The following supplemental pro forma financial information presents the financial results for the nine months ended December 31, 2016 and December 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. Nine Months Ended December 31, December 26, Pro forma net sales $ 455,178 $ 443,594 Pro forma net income 49,292 52,156 Basic earnings per share as reported $ 2.09 $ 1.94 Pro forma basic earnings per share 2.10 2.25 Diluted earnings per share as reported $ 2.07 $ 1.91 Pro forma diluted earnings per share 2.08 2.22

Integration and Restructuring o

Integration and Restructuring of Industrial Operations	9 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring of Operations	10. Integration and Restructuring of Industrial Operations In the third quarter of fiscal 2017, the Company reached a decision to integrate and restructure its industrial manufacturing operation in South Carolina. The Company will exit a few smaller product offerings and consolidate two manufacturing facilities into one. These restructuring efforts will better align our manufacturing capacity and market focus. As a result, the Company recorded a charge of $ 7,060 3,215 261 2,402 1,182 7,060 2,222

Organization and Business (Poli

Organization and Business (Policies)	9 Months Ended
	Dec. 31, 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 December 31, 2016, 2.9
Adoption of Recent Accounting Pronouncements	Adoption of Recent Accounting Pronouncements In October 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards update (“ASU") No. 2016-16, “Income Taxes”, in an effort to improve the accounting for the income tax consequences of intra-equity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This ASU establishes the requirement that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 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 August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows”, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 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 statements of cash flows. In March 2016, the FASB issued 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 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 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 Comprehensi19

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Dec. 31, 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) (5,759) — (5,759) Amounts reclassified from accumulated other comprehensive income (loss) — 701 701 Net current period other comprehensive income (loss) (5,759) 701 (5,058) Balance at December 31, 2016 $ (5,537) $ (6,511) $ (12,048)

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Dec. 31, 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 Nine Months Ended December 31, December 26, December 31, December 26, Net income $ 12,770 $ 17,047 $ 49,038 $ 44,970 Denominator for basic net income per common share—weighted-average shares outstanding 23,581,921 23,220,707 23,457,717 23,197,969 Effect of dilution due to employee stock awards 231,859 271,614 261,404 310,379 Denominator for diluted net income per common share — weighted-average shares outstanding 23,813,780 23,492,321 23,719,121 23,508,348 Basic net income per common share $ 0.54 $ 0.73 $ 2.09 $ 1.94 Diluted net income per common share $ 0.54 $ 0.73 $ 2.07 $ 1.91

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Dec. 31, 2016
Inventory, Net [Abstract]
Inventory	December 31, April 2, Raw materials $ 38,383 $ 36,632 Work in process 74,936 73,761 Finished goods 174,055 170,144 $ 287,374 $ 280,537

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 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 — — — (55) (55) December 31, 2016 $ 16,007 $ 79,597 $ 5,623 $ 166,804 $ 268,031
Schedule Of Intangible Assets	Intangible Assets December 31, 2016 April 2, 2016 Weighted Gross Accumulated Gross Accumulated Product approvals 24 $ 53,842 $ 5,915 $ 54,360 $ 4,488 Customer relationships and lists 24 107,852 11,203 113,409 8,784 Trade names 10 19,912 4,650 20,019 3,211 Distributor agreements 5 722 722 722 722 Patents and trademarks 15 8,863 3,995 8,573 3,546 Domain names 10 437 375 437 342 Other 5 1,149 1,010 1,197 1,072 192,777 27,870 198,717 22,165 Non-amortizable repair station certifications n/a 34,200 — 30,700 — Total $ 226,977 $ 27,870 $ 229,417 $ 22,165
Schedule Of Estimated Amortization Expense	Estimated amortization expense for the remaining three months of fiscal 2017, the five succeeding fiscal years and thereafter is as follows: 2017 $ 2,770 2018 9,324 2019 9,101 2020 8,994 2021 8,943 2022 8,820 2023 and thereafter 116,955

Debt (Tables)

Debt (Tables)	9 Months Ended
	Dec. 31, 2016
Debt Instruments [Abstract]
Schedule Of Balances Payable Under Borrowing Facilities	The balances payable under all borrowing facilities are as follows: December 31, April 2, Revolver and term loan facilities $ 292,500 $ 361,500 Debt issuance costs (4,748) (5,816) Other 7,191 8,012 Total debt $ 294,943 $ 363,696 Less: current portion 12,957 10,486 Long-term debt $ 281,986 $ 353,210

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Dec. 31, 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 Nine Months Ended December 31, December 26, December 31, December 26, Net External Sales Plain $ 65,822 $ 64,171 $ 205,107 $ 197,455 Roller 26,157 26,294 80,786 84,025 Ball 13,700 12,850 41,979 38,791 Engineered Products 40,977 40,901 127,306 114,949 $ 146,656 $ 144,216 $ 455,178 $ 435,220 Gross Margin Plain $ 26,814 $ 22,690 $ 79,971 $ 75,401 Roller 6,397 11,517 30,182 35,767 Ball 5,336 5,202 15,823 15,677 Engineered Products 13,838 14,112 40,391 31,558 $ 52,385 $ 53,521 $ 166,367 $ 158,403 Selling, General & Administrative Expenses Plain $ 6,192 $ 4,765 $ 18,007 $ 16,154 Roller 1,517 1,480 4,484 4,453 Ball 1,384 1,368 4,163 4,106 Engineered Products 4,534 5,311 13,840 13,433 Corporate 12,085 10,926 36,202 34,373 $ 25,712 $ 23,850 $ 76,696 $ 72,519 Operating Income Plain $ 18,065 $ 13,737 $ 57,695 $ 54,826 Roller 2,761 10,016 23,955 31,080 Ball 3,814 3,634 11,252 11,081 Engineered Products 7,831 10,585 22,564 15,448 Corporate (11,942) (10,920) (36,162) (39,423) $ 20,529 $ 27,052 $ 79,304 $ 73,012 Geographic External Sales Domestic $ 129,212 $ 126,070 $ 399,629 $ 379,571 Foreign 17,444 18,146 55,549 55,649 $ 146,656 $ 144,216 $ 455,178 $ 435,220 Intersegment Sales Plain $ 1,146 $ 759 $ 3,248 $ 2,875 Roller 3,264 4,300 11,512 14,995 Ball 370 635 1,211 1,682 Engineered Products 6,767 7,335 21,183 22,469 $ 11,547 $ 13,029 $ 37,154 $ 42,021

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Dec. 31, 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: Nine Months Ended December 31, December 26, Pro forma net sales $ 455,178 $ 443,594 Pro forma net income 49,292 52,156 Basic earnings per share as reported $ 2.09 $ 1.94 Pro forma basic earnings per share 2.10 2.25 Diluted earnings per share as reported $ 2.07 $ 1.91 Pro forma diluted earnings per share 2.08 2.22

Organization and Business (Deta

Organization and Business (Details Textual)	3 Months Ended
	Dec. 31, 2016
Ship-In-Place Transactions [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of Total Net Sales	2.90%

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 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			(5,759)
Amounts reclassified from accumulated other comprehensive income (loss), Currency Translation			0
Net current period other comprehensive income (loss), Currency Translation	$ (3,954)	$ (1,342)	(5,759)	$ (3,017)
Balance Ending,Currency Translation	(5,537)		(5,537)
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			701
Net current period other comprehensive income (loss), Pension and Postretirement Liability	234	$ 1,137	701	$ 682
Balance Ending, Pension and Postretirement Liability	(6,511)		(6,511)
Balance Beginning, Total			(6,990)
Other comprehensive income (loss) before reclassifications (net of taxes)			(5,759)
Amounts reclassified from accumulated other comprehensive income (loss)			701
Net current period other comprehensive income (loss)			(5,058)
Balance Ending, Total	$ (12,048)		$ (12,048)

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Net Income Loss Per Common Share [Line Items]
Net income	$ 12,770	$ 17,047	$ 49,038	$ 44,970
Denominator for basic net income per common share—weighted-average shares outstanding	23,581,921	23,220,707	23,457,717	23,197,969
Effect of dilution due to employee stock awards	231,859	271,614	261,404	310,379
Denominator for diluted net income per common share — weighted-average shares outstanding	23,813,780	23,492,321	23,719,121	23,508,348
Basic net income per common share	$ 0.54	$ 0.73	$ 2.09	$ 1.94
Diluted net income per common share	$ 0.54	$ 0.73	$ 2.07	$ 1.91

Net Income Per Common Share (29

Net Income Per Common Share (Details Textual) - shares	9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015
Net Income Loss Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	449,500	444,250
Restricted Stock [Member]
Net Income Loss Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	81,650	65,600

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Apr. 02, 2016
Inventory [Line Items]
Raw materials	$ 38,383	$ 36,632
Work in process	74,936	73,761
Finished goods	174,055	170,144
Inventory, total	$ 287,374	$ 280,537

Goodwill and Intangible Asset31

Goodwill and Intangible Assets (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2016USD ($)
Goodwill [Line Items]
Goodwill Beginnning Balance	$ 267,259
Acquisition and valuation adjustments	827
Translation adjustments	(55)
Goodwill Ending Balance	268,031
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	(55)
Goodwill Ending Balance	$ 166,804

Goodwill and Intangible Asset32

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2016	Apr. 02, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 192,777	$ 198,717
Accumulated Amortization	27,870	22,165
Non-amortizable repair station certifications	34,200	30,700
Total	$ 226,977	229,417
Product approvals [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 53,842	54,360
Accumulated Amortization	$ 5,915	4,488
Customer relationships and lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 107,852	113,409
Accumulated Amortization	$ 11,203	8,784
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 19,912	20,019
Accumulated Amortization	$ 4,650	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	$ 8,863	8,573
Accumulated Amortization	$ 3,995	3,546
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 375	342
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	5 years
Gross Carrying Amount	$ 1,149	1,197
Accumulated Amortization	$ 1,010	$ 1,072

Goodwill and Intangible Asset33

Goodwill and Intangible Assets (Details 2) $ in Thousands	Dec. 31, 2016USD ($)
Finite-Lived Intangible Assets [Line Items]
2,017	$ 2,770
2,018	9,324
2,019	9,101
2,020	8,994
2,021	8,943
2,022	8,820
2023 and thereafter	$ 116,955

Goodwill and Intangible Asset34

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 26, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets		$ 6,921	$ 6,621
Other Asset Impairment Charges	$ 261	$ 1,443	$ 0

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Apr. 02, 2016
Debt Instrument [Line Items]
Debt issuance costs	$ (4,748)	$ (5,816)
Total debt	294,943	363,696
Less: current portion	12,957	10,486
Long-term debt	281,986	353,210
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	292,500	361,500
Other Loan [Member]
Debt Instrument [Line Items]
Total debt	$ 7,191	$ 8,012

Debt (Details Textual)

Debt (Details Textual) SFr in Thousands, $ in Thousands	1 Months Ended			9 Months Ended
	Apr. 24, 2015USD ($)	Oct. 01, 2012USD ($)	Oct. 01, 2012CHF (SFr)	Dec. 31, 2016USD ($)	Dec. 31, 2016CHF (SFr)	Apr. 02, 2016USD ($)	Oct. 01, 2012CHF (SFr)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity				$ 238,810
Debt Instruments, Issuance Costs				4,748		$ 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%
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				107,500
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				7,191	SFr 7,324
Land and Building [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				4,748
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				$ 185,000
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
	Dec. 31, 2016	Dec. 26, 2015
Income Tax Contingency [Line Items]
Effective income tax rate	31.50%	31.50%
Estimated decrease in credits and state tax	$ 314
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	$ 56	$ 154
Without Discrete Item [Member]
Income Tax Contingency [Line Items]
Effective income tax rate	31.80%	32.10%

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Segment Reporting Information [Line Items]
Net External Sales	$ 146,656	$ 144,216	$ 455,178	$ 435,220
Gross Margin	52,385	53,521	166,367	158,403
Selling, General & Administrative Expenses	25,712	23,850	76,696	72,519
Operating Income	20,529	27,052	79,304	73,012
Geographic External Sales	146,656	144,216	455,178	435,220
Intersegment Sales	11,547	13,029	37,154	42,021
Plain [Member]
Segment Reporting Information [Line Items]
Net External Sales	65,822	64,171	205,107	197,455
Gross Margin	26,814	22,690	79,971	75,401
Selling, General & Administrative Expenses	6,192	4,765	18,007	16,154
Operating Income	18,065	13,737	57,695	54,826
Intersegment Sales	1,146	759	3,248	2,875
Roller [Member]
Segment Reporting Information [Line Items]
Net External Sales	26,157	26,294	80,786	84,025
Gross Margin	6,397	11,517	30,182	35,767
Selling, General & Administrative Expenses	1,517	1,480	4,484	4,453
Operating Income	2,761	10,016	23,955	31,080
Intersegment Sales	3,264	4,300	11,512	14,995
Ball [Member]
Segment Reporting Information [Line Items]
Net External Sales	13,700	12,850	41,979	38,791
Gross Margin	5,336	5,202	15,823	15,677
Selling, General & Administrative Expenses	1,384	1,368	4,163	4,106
Operating Income	3,814	3,634	11,252	11,081
Intersegment Sales	370	635	1,211	1,682
Engineered Products [Member]
Segment Reporting Information [Line Items]
Net External Sales	40,977	40,901	127,306	114,949
Gross Margin	13,838	14,112	40,391	31,558
Selling, General & Administrative Expenses	4,534	5,311	13,840	13,433
Operating Income	7,831	10,585	22,564	15,448
Intersegment Sales	6,767	7,335	21,183	22,469
Corporate [Member]
Segment Reporting Information [Line Items]
Selling, General & Administrative Expenses	12,085	10,926	36,202	34,373
Operating Income	(11,942)	(10,920)	(36,162)	(39,423)
Domestic [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	129,212	126,070	399,629	379,571
Foreign [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	$ 17,444	$ 18,146	$ 55,549	$ 55,649

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Apr. 02, 2016	Apr. 24, 2015
Business Acquisition [Line Items]
Goodwill	$ 268,031	$ 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		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Business Acquisition [Line Items]
Pro forma net sales			$ 455,178	$ 443,594
Pro forma net income			$ 49,292	$ 52,156
Basic earnings per share as reported	$ 0.54	$ 0.73	$ 2.09	$ 1.94
Pro forma basic earnings per share			2.1	2.25
Diluted earnings per share as reported	$ 0.54	$ 0.73	2.07	1.91
Pro forma diluted earnings per share			$ 2.08	$ 2.22

Acquisitions (Details Textual)

Acquisitions (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015	Apr. 02, 2016	Apr. 24, 2015
Business Acquisition [Line Items]
Revenue, Net, Total	$ 146,656	$ 144,216	$ 455,178	$ 435,220
Net income	12,770	17,047	49,038	44,970
Goodwill	268,031		268,031		$ 267,259
Sargent [Member]
Business Acquisition [Line Items]
Revenue, Net, Total	44,837	43,862	138,121	123,371
Net income	$ 5,671	3,769	$ 14,254	9,001
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						$ 500,000
Acquisition Costs, Period Cost		$ 25		$ 6,096
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

Integration and Restructuring43

Integration and Restructuring of Industrial Operations (Details Textual) - Roller Bearings $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 7,060
Inventory rationalization costs	3,215
Impairment of intangible assets (excluding goodwill)	261
Loss on disposition of property, plant, and equipment	2,402
Exit Obligation Associated With Building Operating Lease	1,182
Discrete tax benefit	2,222
Pre Tax Charges	$ 7,060