RBC Bearings (RBC) 10-Q 2 Nov 18 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 29, 2018	Oct. 26, 2018
Document And Entity Information
Entity Registrant Name	RBC Bearings INC
Entity Central Index Key	1,324,948
Document Type	10-Q
Trading Symbol	ROLL
Document Period End Date	Sep. 29, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-30
Entity's Reporting Status Current	Yes
Entity Small Business	false
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		24,768,522
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,019

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 29, 2018	Mar. 31, 2018
Current assets:
Cash and cash equivalents	$ 60,365	$ 54,163
Accounts receivable, net of allowance for doubtful accounts of $1,332 at September 29, 2018 and $1,326 at March 31, 2018	119,521	116,890
Inventory	324,238	306,124
Prepaid expenses and other current assets	12,969	6,473
Total current assets	517,093	483,650
Property, plant and equipment, net	197,449	192,513
Goodwill	268,123	268,124
Intangible assets, net of accumulated amortization of $43,812 at September 29, 2018 and $38,880 at March 31, 2018	180,105	183,764
Other assets	16,528	14,700
Total assets	1,179,298	1,142,751
Current liabilities:
Accounts payable	48,247	45,188
Accrued expenses and other current liabilities	41,783	40,777
Current portion of long-term debt	474	19,238
Total current liabilities	90,504	105,203
Deferred income taxes	15,191	11,749
Long-term debt, less current portion	123,984	154,117
Other non-current liabilities	37,316	37,130
Total liabilities	266,995	308,199
Stockholders' equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at September 29, 2018 and March 31, 2018; none issued or outstanding
Common stock, $.01 par value; authorized shares: 60,000,000 at September 29, 2018 and March 31, 2018; issued shares: 25,509,691 at September 29, 2018 and 25,123,694 at March 31, 2018; outstanding shares: 24,448,388 at September 29, 2018 and 24,105,029 at March 31, 2018	255	251
Additional paid-in capital	366,358	339,148
Accumulated other comprehensive loss	(5,518)	(2,285)
Retained earnings	594,279	536,978
Treasury stock, at cost, 741,074 shares at September 29, 2018 and 713,687 shares at March 31, 2018	(43,071)	(39,540)
Total stockholders' equity	912,303	834,552
Total liabilities and stockholders' equity	$ 1,179,298	$ 1,142,751

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 29, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,332	$ 1,326
Intangible assets, accumulated amortization	$ 43,812	$ 38,880
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	60,000,000	60,000,000
Common stock, issued	25,509,691	25,123,694
Common stock, outstanding	24,448,388	24,105,029
Treasury stock, shares	741,074	713,687

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Income Statement [Abstract]
Net sales	$ 172,916	$ 164,317	$ 348,901	$ 328,214
Cost of sales	105,097	102,399	213,343	204,280
Gross margin	67,819	61,918	135,558	123,934
Operating expenses:
Selling, general and administrative	29,326	27,595	58,901	55,373
Other, net	2,609	8,886	4,775	11,165
Total operating expenses	31,935	36,481	63,676	66,538
Operating income	35,884	25,437	71,882	57,396
Interest expense, net	1,446	1,914	3,157	3,943
Other non-operating expense	336	223	1,370	754
Income before income taxes	34,102	23,300	67,355	52,699
Provision for income taxes	3,991	8,477	9,777	16,067
Net income	$ 30,111	$ 14,823	$ 57,578	$ 36,632
Net income per common share:
Basic (in dollars per share)	$ 1.24	$ 0.62	$ 2.38	$ 1.53
Diluted (in dollars per share)	$ 1.22	$ 0.61	$ 2.34	$ 1.51
Weighted average common shares:
Basic (in shares)	24,325,754	23,946,360	24,233,266	23,875,749
Diluted (in shares)	24,719,056	24,309,593	24,635,146	24,250,740

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 30,111	$ 14,823	$ 57,578	$ 36,632
Pension and postretirement liability adjustments, net of taxes	194	196	388	392
Foreign currency translation adjustments	440	(25)	(3,621)	4,420
Total comprehensive income	$ 30,745	$ 14,994	$ 54,345	$ 41,444

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income / (Loss) [Member]	Retained Earnings (Accumulated Deficit) [Member]	Treasury Stock [Member]	Total
Balance at Apr. 01, 2017	$ 248	$ 312,474	$ (9,823)	$ 448,693	$ 34,548	$ 717,044
Balance (in shares) at Apr. 01, 2017	24,757,803				(667,931)
Net income				21,809		21,809
Share-based compensation		3,228				3,228
Repurchase of common stock					$ (2,288)	(2,288)
Repurchase of common stock (in shares)					(22,711)
Exercise of equity awards	$ 1	6,106				6,107
Exercise of equity awards (in shares)	124,424
Change in net prior service cost and actuarial losses, net of taxes of $58			196			196
Issuance of restricted stock
Issuance of restricted stock (in shares)	62,070
Impact from adoption of ASU 2014-09				1,144		1,144
Currency translation adjustments			4,445			4,445
Balance at Jul. 01, 2017	$ 249	321,808	(5,182)	471,646	$ (36,836)	751,685
Balance (in shares) at Jul. 01, 2017	24,944,297				(690,642)
Balance at Apr. 01, 2017	$ 248	312,474	(9,823)	448,693	$ 34,548	717,044
Balance (in shares) at Apr. 01, 2017	24,757,803				(667,931)
Net income						36,632
Currency translation adjustments						4,420
Balance at Sep. 30, 2017	$ 249	325,517	(5,011)	486,469	$ (37,904)	769,320
Balance (in shares) at Sep. 30, 2017	24,948,512				(701,068)
Balance at Jul. 01, 2017	$ 249	321,808	(5,182)	471,646	$ (36,836)	751,685
Balance (in shares) at Jul. 01, 2017	24,944,297				(690,642)
Net income				14,823		14,823
Share-based compensation		3,402				3,402
Repurchase of common stock					$ (1,068)	(1,068)
Repurchase of common stock (in shares)					(10,426)
Exercise of equity awards		307				307
Exercise of equity awards (in shares)	5,000
Change in net prior service cost and actuarial losses, net of taxes of $58			196			196
Issuance of restricted stock
Issuance of restricted stock (in shares)	(785)
Currency translation adjustments			(25)			(25)
Balance at Sep. 30, 2017	$ 249	325,517	(5,011)	486,469	$ (37,904)	769,320
Balance (in shares) at Sep. 30, 2017	24,948,512				(701,068)
Balance at Mar. 31, 2018	$ 251	339,148	(2,285)	536,978	$ (39,540)	834,552
Balance (in shares) at Mar. 31, 2018	25,123,694				(713,687)
Net income				27,467		27,467
Share-based compensation		3,766				3,766
Repurchase of common stock					$ (1,491)	(1,491)
Repurchase of common stock (in shares)					(11,865)
Exercise of equity awards	$ 2	6,416				6,418
Exercise of equity awards (in shares)	100,142
Change in net prior service cost and actuarial losses, net of taxes of $58			$ 194			$ 194
Issuance of restricted stock
Issuance of restricted stock (in shares)	87,345
Impact from adoption of ASU 2014-09				$ (277)		$ (277)
Currency translation adjustments			(4,061)			(4,061)
Balance at Jun. 30, 2018	$ 253	349,330	(6,152)	564,168	$ (41,031)	866,568
Balance (in shares) at Jun. 30, 2018	25,311,181				(725,552)
Balance at Mar. 31, 2018	$ 251	339,148	(2,285)	536,978	$ (39,540)	834,552
Balance (in shares) at Mar. 31, 2018	25,123,694				(713,687)
Net income						57,578
Currency translation adjustments						(3,621)
Balance at Sep. 29, 2018	$ 255	366,358	(5,518)	594,279	$ (43,071)	912,303
Balance (in shares) at Sep. 29, 2018	25,509,691				(741,074)
Balance at Jun. 30, 2018	$ 253	349,330	(6,152)	564,168	$ (41,031)	866,568
Balance (in shares) at Jun. 30, 2018	25,311,181				(725,552)
Net income				30,111		30,111
Share-based compensation		4,039				4,039
Repurchase of common stock					$ (2,040)	(2,040)
Repurchase of common stock (in shares)					(15,522)
Exercise of equity awards	$ 2	12,989				12,991
Exercise of equity awards (in shares)	192,300
Change in net prior service cost and actuarial losses, net of taxes of $58			194			194
Issuance of restricted stock
Issuance of restricted stock (in shares)	6,210
Income tax benefit on exercise of non-qualified common stock options
Currency translation adjustments			440			440
Balance at Sep. 29, 2018	$ 255	$ 366,358	$ (5,518)	$ 594,279	$ (43,071)	$ 912,303
Balance (in shares) at Sep. 29, 2018	25,509,691				(741,074)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2018	Jun. 30, 2018	Sep. 30, 2017	Jul. 01, 2017
Statement of Stockholders' Equity [Abstract]
Change in net prior service cost and actuarial losses, net of taxes	$ 58	$ 58	$ 114	$ 114

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income	$ 57,578	$ 36,632
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	10,021	9,500
Deferred income taxes	3,442	874
Amortization of intangible assets	4,931	4,738
Amortization of deferred financing costs	555	712
Consolidation and restructuring charges	(24)	5,577
Loss on extinguishment of debt	987
Share-based compensation	7,805	6,630
(Gain)/loss on disposition of assets	(30)	20
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(3,123)	396
Inventory	(20,023)	(6,804)
Prepaid expenses and other current assets	(5,041)	1,674
Other non-current assets	(3,110)	(2,371)
Accounts payable	3,229	4,054
Accrued expenses and other current liabilities	397	(156)
Other non-current liabilities	271	2,486
Net cash provided by operating activities	57,865	63,962
Cash flows from investing activities:
Purchase of property, plant and equipment	(17,746)	(12,667)
Proceeds from sale of assets	1,874	18
Net cash used in investing activities	(15,872)	(12,649)
Cash flows from financing activities:
Proceeds received from revolving credit facility	149,250
Repayments of revolving credit facility	(30,500)	(44,000)
Repayments of term loans	(168,750)	(6,250)
Repayments of notes payable	(237)	(239)
Exercise of stock options	19,409	6,414
Repurchase of common stock	(3,531)	(3,356)
Net cash used in financing activities	(34,359)	(47,431)
Effect of exchange rate changes on cash	(1,432)	80
Cash and cash equivalents:
Increase during the period	6,202	3,962
Cash, at beginning of period	54,163	38,923
Cash, at end of period	60,365	42,885
Supplemental disclosures of cash flow information:
Income taxes	11,697	12,479
Interest	$ 2,535	$ 3,012

Basis of Presentation

Basis of Presentation	6 Months Ended
	Sep. 29, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The interim 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 interim financial statements included with this report have been prepared on a consistent basis with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2018. We condensed or omitted certain information and footnote disclosures normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP). As used in this report, the terms “we”, “us”, “our”, “RBC” and the “Company” mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. These statements reflect all adjustments, accruals and estimates, consisting only of items of a normal recurring nature, that 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 our Annual Report on Form 10-K. The results of operations for the three-month period ended September 29, 2018 are not necessarily indicative of the operating results for the entire fiscal year ending March 30, 2019. The three-month periods ended September 29, 2018 and September 30, 2017 each contain 13 weeks. The amounts shown are in thousands, unless otherwise indicated.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Sep. 29, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies The Company's significant accounting policies are detailed in “Note 2 - Summary of Significant Accounting Policies” of our Annual Report on Form 10-K for the year ended March 31, 2018. Significant changes to our accounting policies as a result of adopting new accounting standards are discussed below. Recent Accounting Standards Adopted In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) A contract with a customer exists when there is commitment and approval from both parties involved, the rights of the parties are identified, payment terms are defined, the contract has commercial substance and collectability of consideration is probable. The Company has determined that the contract with the customer is established when the customer purchase order is accepted or acknowledged. Long-term agreements (LTAs) are used by the Company and certain of its customers to reduce their supply uncertainty for a period of time, typically multiple years. While these LTAs define commercial terms including pricing, termination rights and other contractual requirements, they do not represent the contract with the customer for revenue recognition purposes. When the Company accepts or acknowledges the customer purchase order, the type of good or service is defined on a line-by-line basis. Individual performance obligations are established by virtue of the individual line items identified on the sales order acknowledgment at the time of issuance. The majority of the Company’s revenue relates to the sale of goods and contains a single performance obligation for each distinct good. The remainder of the Company’s revenue from customers is generated from services performed. These services include repair and refurbishment work performed on customer-controlled assets as well as design and test work. The performance obligations for these services are also identified on the sales order acknowledgement at the time of issuance on a line-by-line basis. Transaction price reflects the amount of consideration that the Company expects to be entitled to in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied. For the majority of our contracts, the Company may provide distinct goods or services, in which case we separate the contract into more than one performance obligation ( i.e., The performance obligations for the majority of RBC’s product sales are satisfied at the point in time in which the products are shipped, consistent with the pattern of revenue recognition under the previous accounting standard. The Company has determined that the customer obtains control upon shipment of the product based on the shipping terms (either when it ships from RBC’s dock or when the product arrives at the customer’s dock) and recognizes revenue accordingly. Once a product has shipped, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset. Approximately 93% of the Company’s revenue was recognized in this manner based on sales for the three and six-month periods ended September 29, 2018, respectively. The Company has determined performance obligations are satisfied over time for customer contracts where RBC provides services to customers and also for a limited number of product sales. RBC has determined revenue recognition over time is appropriate for our service revenue contracts as they create or enhance an asset that the customer controls throughout the duration of the contract. Approximately 7% of the Company’s revenue was recognized in this manner based on sales for the three and six-month periods ended September 29, 2018, respectively. Revenue recognition over time is appropriate for customer contracts with product sales in which the product sold has no alternative use to RBC without significant economic loss and an enforceable right to payment exists, including a normal profit margin from the customer, in the event of contract termination. These types of contracts comprised less than 1% of total sales for both the three and six-month periods ended September 29, 2018, respectively. For both of these types of contracts, revenue is recognized over time based on the extent of progress towards completion of the performance obligation. The Company utilizes the cost-to-cost measure of progress for over-time revenue recognition contracts as we believe this measure best depicts the transfer of control to the customer, which occurs as we incur costs on contracts. Revenues, including profits, are recorded proportionally as costs are incurred. Costs to fulfill include labor, materials, subcontractors’ costs, and other direct and indirect costs. Contract costs are the incremental costs of obtaining and fulfilling a contract ( i.e In certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the estimated shipping and handling costs are accrued. In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Revenue from Contracts with Customers In May 2017, the FASB issued ASU No. 2017-09, Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments Recent Accounting Standards Yet to Be Adopted In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Other new pronouncements issued but not effective until after March 30, 2019 are not expected to have a material impact on our financial position, results of operations or liquidity.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Sep. 29, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	3. Revenue from Contracts with Customers Adoption Method and Impact The Company adopted ASC 606 using the modified retrospective method and applied the related provisions to all open contracts. The Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. As a result of adoption, the Company recognized a $277 decrease to retained earnings at the beginning of the 2019 fiscal year for the cumulative effect of adoption of this standard, representing the impact to prior results had the over-time revenue recognition model been applied to service contracts. Contract assets of $1,323 and contract liabilities of $754 were recorded, along with an $847 reduction to work-in-process inventory as a result of the ASC 606 adoption using the modified retrospective method. In addition, as a result of the accounting changes resulting from this new accounting standard, sales, operating income and net income for the three-month period ended September 29, 2018 decreased by $269, $90 and $80, respectively. For the six-month period ended September 29, 2018, sales, operating income and net income increased by $871, $460 and $393, respectively. Basic and diluted net income per common share did not change for the three-month period ended September 29, 2018 as the overall impact was insignificant. Basic and diluted net income per common share each increased by $0.02 for the six-month period ended September 29, 2018 as revenue from service contracts was accelerated into the first six months of the fiscal year as a result of the change to an over-time revenue recognition model. On the consolidated balance sheet, work-in-process inventory was $1,172 lower at September 29, 2018 than it would have been under the previous accounting guidance. In addition, prepaids and other current assets, accrued expenses and other current liabilities, and retained earnings increased by $2,154, $735 and $97, respectively. The changes in other current assets and accrued expenses were directly related to the activity within the customer contract assets and liabilities. Disaggregation of Revenue The Company operates in four business segments with similar economic characteristics, including nature of the products and production processes, distribution patterns and classes of customers. Revenue is disaggregated within these business segments by our two principal end markets: aerospace and industrial. Comparative information of the Company’s overall revenues for the three and six-month periods ended September 29, 2018 and September 30, 2017 are as follows: Principal End Markets: Three Months Ended September 29, 2018 September 30, 2017 Aerospace Industrial Total Aerospace Industrial Total Plain $ 57,821 $ 19,659 $ 77,480 $ 54,890 $ 17,502 $ 72,392 Roller 18,155 18,845 37,000 15,151 17,166 32,317 Ball 5,017 13,021 18,038 3,757 12,723 16,480 Engineered Products 25,517 14,881 40,398 28,191 14,937 43,128 $ 106,510 $ 66,406 $ 172,916 $ 101,989 $ 62,328 $ 164,317 Six Months Ended September 29, 2018 September 30, 2017 Aerospace Industrial Total Aerospace Industrial Total Plain $ 114,205 $ 41,800 $ 156,005 $ 109,361 $ 35,683 $ 145,045 Roller 35,042 37,828 72,870 31,090 32,640 63,730 Ball 9,021 27,091 36,112 7,402 24,859 32,260 Engineered Products 52,733 31,181 83,914 57,598 29,581 87,179 $ 211,001 $ 137,900 $ 348,901 $ 205,451 $ 122,763 $ 328,214 In addition to disaggregating revenue by segment and principal end markets, the Company believes information about the timing of transfer of goods or services, type of customer and distinguishing service revenue from product sales is also relevant. Refer to Note 2 – “Significant Accounting Policies” for further details. Remaining Performance Obligations Remaining performance obligations represent the transaction price of orders meeting the definition of a contract in the new revenue standard for which work has not been performed or has been partially performed and excludes unexercised contract options. The duration of the majority of our contracts, as defined by ASC 606, is less than one year. The Company has elected to apply the practical expedient, which allows companies to exclude remaining performance obligations with an original expected duration of one year or less. Performance obligations having a duration of more than one year are concentrated in contracts for certain products and services provided to the U.S. government or its contractors. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $200,250 at September 29, 2018. The Company expects to recognize revenue on approximately 67% and 95% of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter. Contract Balances The timing of revenue recognition, invoicing and cash collections affect accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the consolidated balance sheets. Contract Assets (Unbilled Receivables) Contract Liabilities (Deferred Revenue) These assets and liabilities are reported on the consolidated balance sheet on an individual contract basis at the end of each reporting period. As of September 29, 2018 and March 31, 2018, accounts receivable with customers, net, were $119,521 and $116,890, respectively. The tables below represent a roll-forward of contract assets and contract liabilities for the six-month period ended September 29, 2018: Contract Assets - Current (1) Balance at April 1, 2018 $ 1,323 Additional revenue recognized in excess of billings 1,847 Less: amounts billed to customers (1,016 ) Balance at September 29, 2018 $ 2,154 (1) Included within prepaid expenses and other current assets on the consolidated balance sheet. Contract Liabilities – Current (2) Balance at April 1, 2018 $ 14,450 Payments received prior to revenue being recognized 6,798 Revenue recognized on beginning balance (9,555 ) Reclassification to/from noncurrent 369 Balance at September 29, 2018 $ 12,062 (2) Included within accrued expenses and other current liabilities on the consolidated balance sheet. Contract Liabilities – Noncurrent (3) Balance at April 1, 2018 $ 1,254 Reclassification to/from current (369 ) Balance at September 29, 2018 $ 885 (3) Included within other non-current liabilities on the consolidated balance sheet. As of September 29, 2018, the Company does not have any contract assets classified as noncurrent on the consolidated balance sheet.

Net Income Per Common Share

Net Income Per Common Share	6 Months Ended
	Sep. 29, 2018
Net income per common share:
Net Income Per Common Share	4. Net Income Per Common Share Basic net income per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted net income per common share is computed by dividing net income by the sum of the weighted-average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options. The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share: Three Months Ended Six Months Ended September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 Net income $ 30,111 $ 14,823 $ 57,578 $ 36,632 Denominator for basic net income per common share—weighted-average shares outstanding 24,325,754 23,946,360 24,233,266 23,875,749 Effect of dilution due to employee stock awards 393,302 363,233 401,880 374,991 Denominator for diluted net income per common share — weighted-average shares outstanding 24,719,056 24,309,593 24,635,146 24,250,740 Basic net income per common share $ 1.24 $ 0.62 $ 2.38 $ 1.53 Diluted net income per common share $ 1.22 $ 0.61 $ 2.34 $ 1.51 At September 29, 2018, 212,835 employee stock options have been excluded from the calculation of diluted earnings per share. At September 30, 2017, 171,500 employee stock options have been excluded from the calculation of diluted earnings per share. The inclusion of these employee stock options would be anti-dilutive.

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Sep. 29, 2018
Cash and cash equivalents:
Cash and Cash Equivalents	5. 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
	Sep. 29, 2018
Inventory, Net [Abstract]
Inventory	6. Inventory Inventories are stated at the lower of cost or net realizable value, using the first-in, first-out method, and are summarized below: September 29, 2018 March 31, 2018 Raw materials $ 46,063 $ 44,102 Work in process 88,010 77,890 Finished goods 190,165 184,132 $ 324,238 $ 306,124

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Sep. 29, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets Goodwill Roller Plain Ball Engineered Products Total April 1,2018 $ 16,007 $ 79,597 $ 5,623 $ 166,897 $ 268,124 Translation adjustments — — — (1 ) (1 ) September 29, 2018 $ 16,007 $ 79,597 $ 5,623 $ 166,896 $ 268,123 Intangible Assets September 29, 2018 March 31, 2018 Weighted Average Useful Lives Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Product approvals 24 $ 50,878 $ 9,410 $ 50,878 $ 8,351 Customer relationships and lists 24 106,583 18,630 106,583 16,499 Trade names 10 18,734 7,680 18,734 6,765 Distributor agreements 5 722 722 722 722 Patents and trademarks 16 10,059 5,153 9,657 4,810 Domain names 10 437 437 437 430 Other 6 2,304 1,780 1,433 1,303 189,717 43,812 188,444 38,880 Non-amortizable repair station certifications n/a 34,200 — 34,200 — Total $ 223,917 $ 43,812 $ 222,644 $ 38,880 Amortization expense for definite-lived intangible assets for the three and six-month periods ended September 29, 2018 were $2,568 and $4,931, respectively, compared to $2,385 and $4,738 for the three and six-month periods ended September 30, 2017, respectively. Estimated amortization expense for the remaining six months of fiscal 2019, the five succeeding fiscal years and thereafter is as follows: 2019 $ 4,484 2020 8,948 2021 8,896 2022 8,779 2023 8,695 2024 8,564 2025 and thereafter 97,539

Debt

Debt	6 Months Ended
	Sep. 29, 2018
Debt Disclosure [Abstract]
Debt	8. Debt The balances payable under all borrowing facilities are as follows: September 29, 2018 March 31, 2018 Revolver Facility $ 119,250 $ 500 Term Loan Facility — 168,750 Debt issuance costs (1,426 ) (2,968 ) Other 6,634 7,073 Total debt 124,458 173,355 Less: current portion 474 19,238 Long-term debt $ 123,984 $ 154,117 The current portion of long-term debt as of September 29, 2018 includes the current portion of the Schaublin mortgage. The current portion of long-term debt as of March 31, 2018 includes the current portion of the Schaublin mortgage and the current portion of the Term Loan Facility. Credit Facility In connection with the Sargent Aerospace & Defense (“Sargent”) acquisition on April 24, 2015, the Company entered into a credit agreement (the “Credit Agreement”) and related Guarantee, Pledge Agreement and Security Agreement with Wells Fargo Bank, National Association, as Administrative Agent, Collateral Agent, Swingline Lender and Letter of Credit Issuer, and the other lenders party thereto and terminated the Company’s prior credit agreement with JP Morgan. The Credit Agreement provides the Company with the Facilities consisting of the $200,000 Term Loan and the $350,000 Revolver. The Facilities expire on April 24, 2020. 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 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 0.00% for base rate loans and 1.00% for LIBOR loans. On May 31, 2018, the Company paid off the remaining balance of the Term Loan. $987 in unamortized debt issuance costs associated with the Term Loan were written off at the time of payoff and were recorded within Other non-operating expense on the consolidated statements of operations. 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 greater than 3.50 to 1; and (2) a consolidated interest coverage ratio of at least 2.75 to 1. The Credit Agreement allows the Company to, among other things, make distributions to shareholders, repurchase its stock, incur other debt or liens, or acquire or dispose of assets provided that the Company complies with certain requirements and limitations of the Credit Agreement. As of September 29, 2018, the Company was in compliance with all such covenants. The Company’s obligations under the Credit Agreement are secured by a pledge of substantially all of the Company’s domestic assets. The Company’s domestic subsidiaries have also entered into a Guarantee to guarantee the Company’s obligations under the Credit Agreement. Approximately $3,990 of the Revolver is being utilized to provide letters of credit to secure the Company’s obligations relating to certain insurance programs. As of September 29, 2018, $1,426 in unamortized debt issuance costs remain. As of September 29, 2018, the Company has the ability to borrow up to an additional $226,760 under the Revolver. Other Notes Payable On October 1, 2012, one of our foreign divisions, Schaublin, purchased the land and building, that it occupied and had been leasing for 14,067 CHF (approximately $14,910). Schaublin obtained a 20-year fixed-rate mortgage of 9,300 CHF (approximately $9,857) at an interest rate of 2.9%. The balance of the purchase price of 4,767 CHF (approximately $5,053) was paid from cash on hand. The balance on this mortgage as of September 29, 2018 was 6,510 CHF, or $6,634.

Pension Plan and Postretirement

Pension Plan and Postretirement Health Care and Life Insurance Benefits	6 Months Ended
	Sep. 29, 2018
Retirement Benefits [Abstract]
Pension Plan and Postretirement Health Care and Life Insurance Benefits	9. Pension Plan and Postretirement Health Care and Life Insurance Benefits The following tables set forth the net periodic benefit cost of the Company’s noncontributory defined benefit pension plan and contributory defined benefit health care plans. The amounts for the three months ended September 29, 2018 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of the respective period’s proportionate share of the amounts to be recorded for the year ending March 30, 2019. The amounts disclosed below for the three and six-month periods ending September 30, 2017 were calculated based on the amounts disclosed within the Company’s fiscal 2018 Annual Report on Form 10-K. Pension Plan: Three Months Ended Six Months Ended September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 Components of net periodic benefit cost: Service cost $ 64 $ 58 $ 128 $ 116 Interest cost 221 226 442 452 Expected return on plan assets (417 ) (403 ) (834 ) (806 ) Amortization of prior service cost 9 9 18 18 Amortization of losses 249 302 498 604 Net periodic benefit cost $ 126 $ 192 $ 252 $ 384 Postretirement Health Care and Life Insurance Benefits: Three Months Ended Six Months Ended September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 Components of net periodic benefit cost: Service cost $ 12 $ 8 $ 24 $ 16 Interest cost 23 25 46 50 Amortization of prior service cost 1 1 2 2 Amortization of losses (7 ) (1 ) (14 ) (2 ) Net periodic benefit cost $ 29 $ 33 $ 58 $ 66 The components of net periodic benefit cost other than the service component are included in other non-operating expense on the consolidated statements of operations.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 29, 2018
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The Company files income tax returns in the U.S. federal jurisdiction and 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 tax examination by the Internal Revenue Service for years ending before March 29, 2015. A U.S. federal tax examination by the Internal Revenue Service for the year ended March 30, 2013 was effectively settled in fiscal 2016. The effective income tax rates for the three-month periods ended September 29, 2018 and September 30, 2017, were 11.7% and 36.4%, respectively. The reduction in the effective income tax rate for the three months ended September 29, 2018 as compared with the prior year period reflects the net benefits of the Tax Cut and Jobs Act (TCJA or “the Act”), which reduced the U.S. statutory rate for corporations from 35% to 21% for tax years beginning in 2018 and made other changes to the U.S. federal income tax laws affecting both domestic and foreign income. The reduction in the effective income tax rate also reflects the impact of increased benefit associated with share-based compensation during the three months ended September 29, 2018. The TCJA was signed into law on December 22, 2017 revising the U.S. corporate income tax. Changes included, but are not limited to, the reduction of the U.S. federal corporate rate from 35% to 21%, the elimination of certain deductions and imposing a one-time net charge related to the taxation of undistributed foreign earnings. Also on December 22, 2017, the SEC issued Staff Accounting Bulletin No. 118 (SAB 118) to address the application of U.S. GAAP in situations where a registrant does not have the necessary information available, prepared or analyzed in reasonable detail to complete the accounting for certain income tax effects of the Act. In accordance with SAB 118, the accounting for the tax effects of the TCJA is not complete as of September 29, 2018; however, reasonable estimates have been made. Provisional estimates of $9,166 for the one-time net charge related to the taxation of undistributed foreign earnings and $9,318 tax benefit related to the remeasurement of U.S. deferred tax balances to reflect the new U.S. corporate income tax rate were recognized as components of income tax expense as of March 31, 2018. No changes have been made to these provisional estimates during the three months ended September 29, 2018. Additional information and analysis of the Act is still needed to prepare a more detailed analysis of the Company’s deferred tax assets and liabilities, as well as historical foreign earnings and profits and potential correlative adjustments. Any subsequent adjustments to the Company’s provisional estimates will be recorded to current tax expense in the quarter of fiscal year 2019 when further analysis is complete. No additional income tax provision has been made on any remaining undistributed foreign earnings not subject to the one-time net charge related to the taxation of unremitted foreign earnings or any additional outside basis difference as these amounts continue to be indefinitely reinvested in foreign operations. One of the international tax law changes provided for with the TCJA relates to the taxation of a corporation’s global intangible low-taxed income (GILTI) for tax years beginning after December 31, 2017. The Company has evaluated this provision of the TCJA and the application of ASC 740, and does not believe that GILTI will have a significant impact. In addition to discrete items, the effective income tax rates for these periods are different from the U.S. statutory rates due to a special U.S. manufacturing deduction and the U.S. credit for increasing research activities, which decrease the rate, and state income taxes, which increases the rate. The effective income tax rate for the three-month period ended September 29, 2018 of 11.7% includes $3,176 of tax benefits associated with share-based compensation. The effective income tax rate without this benefit and other items for the three-month period ended September 29, 2018 would have been 20.9%. The effective income tax rate for the three-month period ended September 30, 2017 of 36.4% includes discrete items of $917 benefit associated with restructuring and integration activities, $405 benefit associated with shared-based compensation and $134 benefit associated with state tax filing positions. The effective income tax rate without discrete items for the three-month period ended September 30, 2017 would have been 42.6%. 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 in the Company’s unrecognized tax positions, pertaining primarily to items associated with the consolidation and restructuring of the company’s U.K. manufacturing facility and to credits and state tax, is estimated to be approximately $1,734.

Reportable Segments

Reportable Segments	6 Months Ended
	Sep. 29, 2018
Segment Reporting [Abstract]
Reportable Segments	11. 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 are aggregated as reportable segment as they have similar economic characteristics, including nature of the products and production processes, distribution patterns and classes of customers. 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 Six Months Ended September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 Net External Sales Plain $ 77,480 $ 72,392 $ 156,005 $ 145,045 Roller 37,000 32,317 72,870 63,730 Ball 18,038 16,480 36,112 32,260 Engineered Products 40,398 43,128 83,914 87,179 $ 172,916 $ 164,317 $ 348,901 $ 328,214 Gross Margin Plain $ 30,867 $ 27,802 $ 61,483 $ 56,252 Roller 16,270 12,930 31,227 25,718 Ball 7,408 6,740 14,687 12,915 Engineered Products 13,274 14,446 28,161 29,049 $ 67,819 $ 61,918 $ 135,558 $ 123,934 Selling, General & Administrative Expenses Plain $ 6,160 $ 6,323 $ 12,522 $ 12,772 Roller 1,556 1,641 3,180 3,212 Ball 1,609 1,680 3,211 3,295 Engineered Products 5,076 5,122 10,436 10,399 Corporate 14,925 12,829 29,552 25,695 $ 29,326 $ 27,595 $ 58,901 $ 55,373 Operating Income Plain $ 19,660 $ 20,736 $ 41,347 $ 41,971 Roller 14,702 11,269 28,034 22,485 Ball 5,750 5,020 11,368 9,515 Engineered Products 11,815 805 22,449 9,022 Corporate (16,043 ) (12,393 ) (31,316 ) (25,597 ) $ 35,884 $ 25,437 $ 71,882 $ 57,396 Intersegment Sales Plain $ 1,643 $ 1,397 $ 3,240 $ 2,553 Roller 3,074 2,884 7,169 6,293 Ball 762 624 1,562 1,152 Engineered Products 9,978 7,848 19,116 16,021 $ 15,457 $ 12,753 $ 31,087 $ 26,019 All intersegment sales are eliminated in consolidation.

Integration and Restructuring o

Integration and Restructuring of Industrial Operations	6 Months Ended
	Sep. 29, 2018
Restructuring and Related Activities [Abstract]
Integration and Restructuring of Industrial Operations	12. Integration and Restructuring of Industrial Operations In the second quarter of fiscal 2018, the Company reached a decision to restructure its manufacturing operation in Montreal, Canada. After completing its obligations, the Company closed its RBC Canada location and consolidated certain residual assets into other locations. As a result, the Company recorded an after-tax charge of $5,577 associated with the restructuring in the second quarter of fiscal 2018 attributable to the Engineered Products segment. The $5,577 charge included a $1,337 impairment of fixed assets and a $5,157 impairment of intangible assets offset by a $917 tax benefit. The impairment charges were recognized within other, net within the consolidated statement of operations. The Company determined that the market approach was the most appropriate method to estimate the fair value of the fixed assets using comparable sales data and actual quotes from potential buyers in the market place. The fixed assets were comprised of land, a building, machinery and equipment. The Company assessed the fair value of the intangible assets in accordance with ASC 360-10, which were comprised of customer relationships, product approvals, tradenames and trademarks. These fair value measurements were classified as Level 3 in the valuation hierarchy. In the third and fourth quarters of fiscal 2018, the Company incurred restructuring charges of $1,091 and $100, respectively, comprised primarily of employee termination costs and building maintenance costs. These costs were recorded within other, net within the consolidated statement of operations and are all attributable to the Engineered Products segment. The impact from restructuring in the first quarter of fiscal 2019 was immaterial. The total cumulative impact resulting from the restructuring was $6,743 in after-tax charges, all attributable to the Engineered Products segment.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 29, 2018
Accounting Policies [Abstract]
Recent Accounting Standards Adopted	Recent Accounting Standards Adopted In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) A contract with a customer exists when there is commitment and approval from both parties involved, the rights of the parties are identified, payment terms are defined, the contract has commercial substance and collectability of consideration is probable. The Company has determined that the contract with the customer is established when the customer purchase order is accepted or acknowledged. Long-term agreements (LTAs) are used by the Company and certain of its customers to reduce their supply uncertainty for a period of time, typically multiple years. While these LTAs define commercial terms including pricing, termination rights and other contractual requirements, they do not represent the contract with the customer for revenue recognition purposes. When the Company accepts or acknowledges the customer purchase order, the type of good or service is defined on a line-by-line basis. Individual performance obligations are established by virtue of the individual line items identified on the sales order acknowledgment at the time of issuance. The majority of the Company’s revenue relates to the sale of goods and contains a single performance obligation for each distinct good. The remainder of the Company’s revenue from customers is generated from services performed. These services include repair and refurbishment work performed on customer-controlled assets as well as design and test work. The performance obligations for these services are also identified on the sales order acknowledgement at the time of issuance on a line-by-line basis. Transaction price reflects the amount of consideration that the Company expects to be entitled to in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied. For the majority of our contracts, the Company may provide distinct goods or services, in which case we separate the contract into more than one performance obligation ( i.e., The performance obligations for the majority of RBC’s product sales are satisfied at the point in time in which the products are shipped, consistent with the pattern of revenue recognition under the previous accounting standard. The Company has determined that the customer obtains control upon shipment of the product based on the shipping terms (either when it ships from RBC’s dock or when the product arrives at the customer’s dock) and recognizes revenue accordingly. Once a product has shipped, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset. Approximately 93% of the Company’s revenue was recognized in this manner based on sales for the three and six-month periods ended September 29, 2018, respectively. The Company has determined performance obligations are satisfied over time for customer contracts where RBC provides services to customers and also for a limited number of product sales. RBC has determined revenue recognition over time is appropriate for our service revenue contracts as they create or enhance an asset that the customer controls throughout the duration of the contract. Approximately 7% of the Company’s revenue was recognized in this manner based on sales for the three and six-month periods ended September 29, 2018, respectively. Revenue recognition over time is appropriate for customer contracts with product sales in which the product sold has no alternative use to RBC without significant economic loss and an enforceable right to payment exists, including a normal profit margin from the customer, in the event of contract termination. These types of contracts comprised less than 1% of total sales for both the three and six-month periods ended September 29, 2018, respectively. For both of these types of contracts, revenue is recognized over time based on the extent of progress towards completion of the performance obligation. The Company utilizes the cost-to-cost measure of progress for over-time revenue recognition contracts as we believe this measure best depicts the transfer of control to the customer, which occurs as we incur costs on contracts. Revenues, including profits, are recorded proportionally as costs are incurred. Costs to fulfill include labor, materials, subcontractors’ costs, and other direct and indirect costs. Contract costs are the incremental costs of obtaining and fulfilling a contract ( i.e In certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the estimated shipping and handling costs are accrued. In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Revenue from Contracts with Customers In May 2017, the FASB issued ASU No. 2017-09, Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments
Recent Accounting Standards Yet to Be Adopted	Recent Accounting Standards Yet to Be Adopted In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Other new pronouncements issued but not effective until after March 30, 2019 are not expected to have a material impact on our financial position, results of operations or liquidity.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Sep. 29, 2018
Revenue from Contract with Customer [Abstract]
Schedule of revenue from business segments of customers	Comparative information of the Company’s overall revenues for the three and six-month periods ended September 29, 2018 and September 30, 2017 are as follows: Principal End Markets: Three Months Ended September 29, 2018 September 30, 2017 Aerospace Industrial Total Aerospace Industrial Total Plain $ 57,821 $ 19,659 $ 77,480 $ 54,890 $ 17,502 $ 72,392 Roller 18,155 18,845 37,000 15,151 17,166 32,317 Ball 5,017 13,021 18,038 3,757 12,723 16,480 Engineered Products 25,517 14,881 40,398 28,191 14,937 43,128 $ 106,510 $ 66,406 $ 172,916 $ 101,989 $ 62,328 $ 164,317 Six Months Ended September 29, 2018 September 30, 2017 Aerospace Industrial Total Aerospace Industrial Total Plain $ 114,205 $ 41,800 $ 156,005 $ 109,361 $ 35,683 $ 145,045 Roller 35,042 37,828 72,870 31,090 32,640 63,730 Ball 9,021 27,091 36,112 7,402 24,859 32,260 Engineered Products 52,733 31,181 83,914 57,598 29,581 87,179 $ 211,001 $ 137,900 $ 348,901 $ 205,451 $ 122,763 $ 328,214
Schedule of allowance for doubtful accounts	The tables below represent a roll-forward of contract assets and contract liabilities for the six-month period ended September 29, 2018: Contract Assets - Current (1) Balance at April 1, 2018 $ 1,323 Additional revenue recognized in excess of billings 1,847 Less: amounts billed to customers (1,016 ) Balance at September 29, 2018 $ 2,154 (1) Included within prepaid expenses and other current assets on the consolidated balance sheet. Contract Liabilities – Current (2) Balance at April 1, 2018 $ 14,450 Payments received prior to revenue being recognized 6,798 Revenue recognized on beginning balance (9,555 ) Reclassification to/from noncurrent 369 Balance at September 29, 2018 $ 12,062 (2) Included within accrued expenses and other current liabilities on the consolidated balance sheet. Contract Liabilities – Noncurrent (3) Balance at April 1, 2018 $ 1,254 Reclassification to/from current (369 ) Balance at September 29, 2018 $ 885 (3) Included within other non-current liabilities on the consolidated balance sheet.

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	6 Months Ended
	Sep. 29, 2018
Net income per common share:
Schedule basic and diluted net income per common share	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 September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 Net income $ 30,111 $ 14,823 $ 57,578 $ 36,632 Denominator for basic net income per common share—weighted-average shares outstanding 24,325,754 23,946,360 24,233,266 23,875,749 Effect of dilution due to employee stock awards 393,302 363,233 401,880 374,991 Denominator for diluted net income per common share — weighted-average shares outstanding 24,719,056 24,309,593 24,635,146 24,250,740 Basic net income per common share $ 1.24 $ 0.62 $ 2.38 $ 1.53 Diluted net income per common share $ 1.22 $ 0.61 $ 2.34 $ 1.51

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Sep. 29, 2018
Inventory, Net [Abstract]
Schedule of inventory	Inventories are stated at the lower of cost or net realizable value, using the first-in, first-out method, and are summarized below: September 29, 2018 March 31, 2018 Raw materials $ 46,063 $ 44,102 Work in process 88,010 77,890 Finished goods 190,165 184,132 $ 324,238 $ 306,124

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Sep. 29, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Goodwill Roller Plain Ball Engineered Products Total April 1,2018 $ 16,007 $ 79,597 $ 5,623 $ 166,897 $ 268,124 Translation adjustments — — — (1 ) (1 ) September 29, 2018 $ 16,007 $ 79,597 $ 5,623 $ 166,896 $ 268,123
Schedule of intangible assets	Intangible Assets September 29, 2018 March 31, 2018 Weighted Average Useful Lives Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Product approvals 24 $ 50,878 $ 9,410 $ 50,878 $ 8,351 Customer relationships and lists 24 106,583 18,630 106,583 16,499 Trade names 10 18,734 7,680 18,734 6,765 Distributor agreements 5 722 722 722 722 Patents and trademarks 16 10,059 5,153 9,657 4,810 Domain names 10 437 437 437 430 Other 6 2,304 1,780 1,433 1,303 189,717 43,812 188,444 38,880 Non-amortizable repair station certifications n/a 34,200 — 34,200 — Total $ 223,917 $ 43,812 $ 222,644 $ 38,880
Schedule of estimated amortization expense	Amortization expense for definite-lived intangible assets for the three and six-month periods ended September 29, 2018 were $2,568 and $4,931, respectively, compared to $2,385 and $4,738 for the three and six-month periods ended September 30, 2017, respectively. Estimated amortization expense for the remaining six months of fiscal 2019, the five succeeding fiscal years and thereafter is as follows: 2019 $ 4,484 2020 8,948 2021 8,896 2022 8,779 2023 8,695 2024 8,564 2025 and thereafter 97,539

Debt (Tables)

Debt (Tables)	6 Months Ended
	Sep. 29, 2018
Debt Disclosure [Abstract]
Schedule of balances payable under borrowing facilities	The balances payable under all borrowing facilities are as follows: September 29, 2018 March 31, 2018 Revolver Facility $ 119,250 $ 500 Term Loan Facility — 168,750 Debt issuance costs (1,426 ) (2,968 ) Other 6,634 7,073 Total debt 124,458 173,355 Less: current portion 474 19,238 Long-term debt $ 123,984 $ 154,117

Pension Plan and Postretireme_2

Pension Plan and Postretirement Health Care and Life Insurance Benefits (Tables)	6 Months Ended
	Sep. 29, 2018
Retirement Benefits [Abstract]
Schedule of defined benefit pension plan	Pension Plan: Three Months Ended Six Months Ended September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 Components of net periodic benefit cost: Service cost $ 64 $ 58 $ 128 $ 116 Interest cost 221 226 442 452 Expected return on plan assets (417 ) (403 ) (834 ) (806 ) Amortization of prior service cost 9 9 18 18 Amortization of losses 249 302 498 604 Net periodic benefit cost $ 126 $ 192 $ 252 $ 384
Schedule of postretirement benefit costs	Postretirement Health Care and Life Insurance Benefits: Three Months Ended Six Months Ended September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 Components of net periodic benefit cost: Service cost $ 12 $ 8 $ 24 $ 16 Interest cost 23 25 46 50 Amortization of prior service cost 1 1 2 2 Amortization of losses (7 ) (1 ) (14 ) (2 ) Net periodic benefit cost $ 29 $ 33 $ 58 $ 66

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Sep. 29, 2018
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 September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017 Net External Sales Plain $ 77,480 $ 72,392 $ 156,005 $ 145,045 Roller 37,000 32,317 72,870 63,730 Ball 18,038 16,480 36,112 32,260 Engineered Products 40,398 43,128 83,914 87,179 $ 172,916 $ 164,317 $ 348,901 $ 328,214 Gross Margin Plain $ 30,867 $ 27,802 $ 61,483 $ 56,252 Roller 16,270 12,930 31,227 25,718 Ball 7,408 6,740 14,687 12,915 Engineered Products 13,274 14,446 28,161 29,049 $ 67,819 $ 61,918 $ 135,558 $ 123,934 Selling, General & Administrative Expenses Plain $ 6,160 $ 6,323 $ 12,522 $ 12,772 Roller 1,556 1,641 3,180 3,212 Ball 1,609 1,680 3,211 3,295 Engineered Products 5,076 5,122 10,436 10,399 Corporate 14,925 12,829 29,552 25,695 $ 29,326 $ 27,595 $ 58,901 $ 55,373 Operating Income Plain $ 19,660 $ 20,736 $ 41,347 $ 41,971 Roller 14,702 11,269 28,034 22,485 Ball 5,750 5,020 11,368 9,515 Engineered Products 11,815 805 22,449 9,022 Corporate (16,043 ) (12,393 ) (31,316 ) (25,597 ) $ 35,884 $ 25,437 $ 71,882 $ 57,396 Intersegment Sales Plain $ 1,643 $ 1,397 $ 3,240 $ 2,553 Roller 3,074 2,884 7,169 6,293 Ball 762 624 1,562 1,152 Engineered Products 9,978 7,848 19,116 16,021 $ 15,457 $ 12,753 $ 31,087 $ 26,019

Significant Accounting Polici_3

Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	Dec. 22, 2017	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
U.S. statutory tax rate (in percent)	21.00%	11.70%	36.40%
Previously U.S. statutory tax rate (in percent)	35.00%
Percentage of total net sales		7.00%		7.00%
Cost of sales		$ 105,097	$ 102,399	$ 213,343	$ 204,280
Single Performance [Member]
Percentage of total net sales		93.00%		93.00%
Accounting Standards Update 2017-07 [Member]
Reclassification net periodic benefit cost			159		318
Cost of sales			107		214
Other, net			$ 52		$ 104
Maximum [Member]
Percentage of total net sales		1.00%		1.00%

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Revenue from contracts with customers	$ 172,916	$ 164,317	$ 348,901	$ 328,214
Plain [Member]
Revenue from contracts with customers	77,480	72,392	156,005	145,045
Roller [Member]
Revenue from contracts with customers	37,000	32,317	72,870	63,730
Ball [Member]
Revenue from contracts with customers	18,038	16,480	36,112	32,260
Engineered Products [Member]
Revenue from contracts with customers	40,398	43,128	83,914	87,179
Aerospace [Member]
Revenue from contracts with customers	106,510	101,989	211,001	205,451
Aerospace [Member] | Plain [Member]
Revenue from contracts with customers	57,821	54,890	114,205	109,361
Aerospace [Member] | Roller [Member]
Revenue from contracts with customers	18,155	15,151	35,042	31,090
Aerospace [Member] | Ball [Member]
Revenue from contracts with customers	5,017	3,757	9,021	7,402
Aerospace [Member] | Engineered Products [Member]
Revenue from contracts with customers	25,517	28,191	52,733	57,598
Industrial [Member]
Revenue from contracts with customers	66,406	62,328	137,900	122,763
Industrial [Member] | Plain [Member]
Revenue from contracts with customers	19,659	17,502	41,800	35,683
Industrial [Member] | Roller [Member]
Revenue from contracts with customers	18,845	17,166	37,828	32,640
Industrial [Member] | Ball [Member]
Revenue from contracts with customers	13,021	12,723	27,091	24,859
Industrial [Member] | Engineered Products [Member]
Revenue from contracts with customers	$ 14,881	$ 14,937	$ 31,181	$ 29,581

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Details 1) $ in Thousands	6 Months Ended
	Sep. 29, 2018USD ($)
Contract Assets - Current
Balance at beginning	$ 1,323	[1]
Additional revenue recognized in excess of billings	1,847	[1]
Less: amounts billed to customers	(1,016)	[1]
Balance at ending	2,154	[1]
Balance at beginning	14,450	[2]
Payments received prior to revenue being recognized	6,798	[2]
Revenue recognized on beginning balance	(9,555)	[2]
Reclassification to/from noncurrent	369	[2]
Balance at ending	12,062	[2]
Contract Liabilities - Noncurrent
Balance at beginning	1,254	[3]
Reclassification to/from current	(369)	[3]
Balance at ending	$ 885	[3]
[1]	Included within prepaid expenses and other current assets on the consolidated balance sheet.
[2]	Included within accrued expenses and other current liabilities on the consolidated balance sheet.
[3]	Included within other non-current liabilities on the consolidated balance sheet.

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Details Narrative) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 29, 2018USD ($)$ / shares	Jun. 30, 2018USD ($)	Sep. 30, 2017USD ($)$ / shares	Jul. 01, 2017USD ($)	Sep. 29, 2018USD ($)Segment$ / shares	Sep. 30, 2017USD ($)$ / shares	Apr. 03, 2018USD ($)	Mar. 31, 2018USD ($)
Retained earnings	$ 594,279				$ 594,279			$ 536,978
Operating income	35,884		$ 25,437		71,882	$ 57,396
Net income	$ 30,111	$ 27,467	$ 14,823	$ 21,809	$ 57,578	$ 36,632
Basic income per share (in dollars per share) | $ / shares	$ 1.24		$ 0.62		$ 2.38	$ 1.53
Diluted income per share (in dollars per share) | $ / shares	$ 1.22		$ 0.61		$ 2.34	$ 1.51
Inventory work-in-process	$ 88,010				$ 88,010			77,890
Transaction price allocated to remaining performance obligations	1 year				1 year
The aggregate amount of the transaction price allocated to remaining performance obligations	$ 200,250				$ 200,250
Remaining performance obligations over the next 12 months	67.00%				67.00%
Remaining performance obligations over the next 24 months	95.00%				95.00%
Revenue recognize remaining performance obligations					<font style="font: 10pt Times New Roman, Times, Serif">The remaining performance obligations over the next 12 months, with the remainder being recognized within 24 months.</font></p>" id="sjs-F13">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&lt;font style="font: 10pt Times New Roman, Times, Serif">The remaining performance obligations over the next 12 months, with the remainder being recognized within 24 months.&lt;/font>&lt;/p>
Accounts receivable with customers, Gross	$ 119,521				$ 119,521			$ 116,890
Number of segment | Segment					4
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Retained earnings	97				$ 97		$ (277)
Contract assets							1,323
Contract liabilities							754
Sales	(269)				871
Operating income	(90)				460
Net income	(80)				$ 393
Basic income per share (in dollars per share) | $ / shares					$ 0.02
Diluted income per share (in dollars per share) | $ / shares					$ 0.02
Inventory work-in-process	(1,172)				$ (1,172)		$ (847)
Prepaids and other current assets	2,154				2,154
Accrued expenses and other current liabilities	$ 735				$ 735

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 29, 2018	Jun. 30, 2018	Sep. 30, 2017	Jul. 01, 2017	Sep. 29, 2018	Sep. 30, 2017
Net income per common share:
Net income	$ 30,111	$ 27,467	$ 14,823	$ 21,809	$ 57,578	$ 36,632
Denominator:
Denominator for basic net income per common share-weighted-average shares outstanding	24,325,754		23,946,360		24,233,266	23,875,749
Effect of dilution due to employee stock options	393,302		363,233		401,880	374,991
Denominator for diluted net income per common share - weighted-average shares outstanding	24,719,056		24,309,593		24,635,146	24,250,740
Basic net income per common share	$ 1.24		$ 0.62		$ 2.38	$ 1.53
Diluted net income per common share	$ 1.22		$ 0.61		$ 2.34	$ 1.51

Net Income Per Common Share (_2

Net Income Per Common Share (Details Narrative) - shares	6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of Employee Stock Options Excluded from the Calculation of Diluted Earnings Per Share	212,835	171,500

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Mar. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 46,063	$ 44,102
Work in process	88,010	77,890
Finished goods	190,165	184,132
Inventory, total	$ 324,238	$ 306,124

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) $ in Thousands	6 Months Ended
	Sep. 29, 2018USD ($)
Goodwill [Line Items]
Goodwill Beginnning Balance	$ 268,124
Translation adjustments	(1)
Goodwill Ending Balance	268,123
Roller [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	16,007
Translation adjustments
Goodwill Ending Balance	16,007
Plain [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	79,597
Translation adjustments
Goodwill Ending Balance	79,597
Ball [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	5,623
Translation adjustments
Goodwill Ending Balance	5,623
Engineered Products [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	166,897
Translation adjustments	(1)
Goodwill Ending Balance	$ 166,896

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	6 Months Ended
	Sep. 29, 2018	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Non-amortizable repair station certifications	$ 34,200	$ 34,200
Gross Carrying Amount	189,717	188,444
Gross amount	223,917	222,644
Accumulated Amortization	$ 43,812	38,880
Product Approvals [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 50,878	50,878
Accumulated Amortization	$ 9,410	8,351
Customer Relationships And Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 106,583	106,583
Accumulated Amortization	$ 18,630	16,499
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 18,734	18,734
Accumulated Amortization	$ 7,680	6,765
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	16 years
Gross Carrying Amount	$ 10,059	9,657
Accumulated Amortization	$ 5,153	4,810
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 437	430
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	6 years
Gross Carrying Amount	$ 2,304	1,433
Accumulated Amortization	$ 1,780	$ 1,303

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Details 2) $ in Thousands	Sep. 29, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,019	$ 4,484
2,020	8,948
2,021	8,896
2,022	8,779
2,023	8,695
2,024	8,564
2025 and thereafter	$ 97,539

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 2,568	$ 2,385	$ 4,931	$ 4,738

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Mar. 31, 2018
Debt Instrument [Line Items]
Debt issuance cost	$ (1,426)	$ (2,968)
Total debt	124,458	173,355
Less: current portion	474	19,238
Long-term debt	123,984	154,117
Other Loan [Member]
Debt Instrument [Line Items]
Total debt	6,634	7,073
Revolving Facility [Member]
Debt Instrument [Line Items]
Total debt	119,250	500
Term Loan [Member]
Debt Instrument [Line Items]
Total debt		$ 168,750

Debt (Details Narrative)

Debt (Details Narrative) SFr in Thousands, $ in Thousands	May 31, 2018USD ($)	Oct. 01, 2012USD ($)	Oct. 01, 2012CHF (SFr)	Apr. 24, 2015USD ($)	Sep. 29, 2018USD ($)	Sep. 29, 2018CHF (SFr)	Mar. 31, 2018USD ($)	Oct. 01, 2012CHF (SFr)
Debt Instruments, Issuance Costs					$ 1,426		$ 2,968
Schaublin [Member]
Cash paid for purchase price		$ 5,053
Schaublin [Member] | CHF
Cash paid for purchase price | SFr			SFr 4,767
Schaublin [Member] | Land and Building [Member]
Land and building leased		$ 14,910
Period for fixed rate on mortgage loan		20 years	20 years
Mortgage loan interest rate		2.90%	2.90%
Mortgage loan fixed rate		$ 9,857
Mortgage loan					$ 6,634
Schaublin [Member] | Land and Building [Member] | CHF
Land and building leased | SFr								SFr 14,067
Mortgage loan fixed rate | SFr								SFr 9,300
Mortgage loan | SFr						SFr 6,510
New Credit Agreement [Member] | Maximum [Member]
Consolidated net debt adjusted EBITDA ratio					3.50
Consolidated Interest Coverage Ratio					2.75
New Credit Agreement [Member] | Minimum [Member]
Consolidated net debt adjusted EBITDA ratio					1
Consolidated Interest Coverage Ratio					1
Letter of Credit [Member]
Line of Credit					$ 3,990
Line of Credit Facility, Remaining Borrowing Capacity					226,760
Term Loan [Member]
Unamortization Of Financing Costs	$ 987				$ 1,426
Sargent Aerospace Defense Business [Member]
Business Acquisition, Date of Acquisition Agreement				Apr. 24, 2015
Sargent Aerospace Defense Business [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate					0.00%
Sargent Aerospace Defense Business [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate					1.00%
Debt Instrument, Description of Variable Rate Basis					<font style="font: 10pt Times New Roman, Times, Serif">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 plus a specified margin, depending on the type of borrowing being made. </font></p>" id="sjs-F34">&lt;p style="margin-top: 0pt; margin-bottom: 0pt">&lt;font style="font: 10pt Times New Roman, Times, Serif">Amounts outstanding under the Facilities generally bear interest at (a) a base rate determined by reference to the higher of (1) Wells Fargo&#8217;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 plus a specified margin, depending on the type of borrowing being made.&#160;&lt;/font>&lt;/p>
Sargent Aerospace Defense Business [Member] | Revolving Facility [Member]
Debt Instrument, Face Amount				$ 350,000
Sargent Aerospace Defense Business [Member] | Term Loan [Member]
Debt Instrument, Face Amount				$ 200,000

Pension Plan and Postretireme_3

Pension Plan and Postretirement Health Care and Life Insurance Benefits (Details) - Pension Plan [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Components of net periodic benefit cost:
Service cost	$ 64	$ 58	$ 128	$ 116
Interest cost	221	226	442	452
Expected return on plan assets	(417)	(403)	(834)	(806)
Amortization of prior service cost	9	9	18	18
Amortization of losses	249	302	498	604
Net periodic benefit cost	$ 126	$ 192	$ 252	$ 384

Pension Plan and Postretireme_4

Pension Plan and Postretirement Health Care and Life Insurance Benefits (Details 1) - Postretirement Benefit Plans [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 12	$ 8	$ 24	$ 16
Interest cost	23	25	46	50
Amortization of prior service cost	1	1	2	2
Amortization of losses	(7)	(1)	(14)	(2)
Net periodic benefit cost	$ 29	$ 33	$ 58	$ 66

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	Dec. 22, 2017	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018
Income Tax Disclosure [Abstract]
Income tax provision at the federal statutory rate	21.00%	11.70%	36.40%
Income tax provision at the federal statutory rate reduced	35.00%
Undistributed foreign earnings		$ 9,166		$ 9,166
U.S. corporate income tax rate amount				9,318
Unrecognized tax positions restructuring and integration activities			$ 917
Unrecognized tax positions associated with shared -based compensation		$ 3,176	405	3,176
Unrecognized tax positions associated state tax filing			$ 134
Effective income tax rate without discrete		20.90%	42.60%
Estimated Decrease In Unrecognized Tax Positions In Credits And State Tax				$ 1,734

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Net External Sales	$ 172,916	$ 164,317	$ 348,901	$ 328,214
Gross Margin	67,819	61,918	135,558	123,934
Selling, General & Administrative Expenses	29,326	27,595	58,901	55,373
Operating Income	35,884	25,437	71,882	57,396
Intersegment Sales	15,457	12,753	31,087	2,601
Plain [Member]
Segment Reporting Information [Line Items]
Net External Sales	77,480	72,392	156,005	145,045
Gross Margin	30,867	27,802	61,483	56,252
Selling, General & Administrative Expenses	6,160	6,323	12,522	12,772
Operating Income	19,660	20,736	41,347	41,971
Intersegment Sales	1,643	1,397	3,240	2,553
Roller [Member]
Segment Reporting Information [Line Items]
Net External Sales	37,000	32,317	72,870	63,730
Gross Margin	16,270	12,930	31,227	25,718
Selling, General & Administrative Expenses	1,556	1,641	3,180	3,212
Operating Income	14,702	11,269	28,034	22,485
Intersegment Sales	3,074	2,884	7,169	6,293
Ball [Member]
Segment Reporting Information [Line Items]
Net External Sales	18,038	16,480	36,112	32,260
Gross Margin	7,408	6,740	14,687	12,915
Selling, General & Administrative Expenses	1,609	1,680	3,211	3,295
Operating Income	5,750	5,020	11,368	9,515
Intersegment Sales	762	624	1,562	1,152
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Selling, General & Administrative Expenses	14,627	12,829	29,552	25,695
Operating Income	(16,043)	(12,393)	(31,316)	(25,597)
Engineered Products [Member]
Segment Reporting Information [Line Items]
Net External Sales	40,398	43,128	83,914	87,179
Gross Margin	13,274	14,446	28,161	29,049
Selling, General & Administrative Expenses	5,076	5,122	10,436	10,399
Operating Income	11,815	805	22,449	9,022
Intersegment Sales	$ 9,978	$ 7,848	$ 19,116	$ 16,021

Integration and Restructuring_2

Integration and Restructuring of Industrial Operations (Details Narrative) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jun. 30, 2018
Employee Termination Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 100	$ 1,091
Engineered Products [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 5,577
Impairment of fixed assets			1,337
Impairment of intangible assets (excluding goodwill)			5,157
Discrete tax benefit			$ (917)
Total cumulative restructuring after-tax charges				$ 6,743