New Program Replaces Old
“Our primary use of cash will continue to be for driving organic growth
and acquisitions that complement our aerospace, defense and industrial
portfolios,” said Dr.
Under the new program, the Company may repurchase shares from time to time on the open market, in block trade transactions, or through privately negotiated transactions, in compliance with SEC Rule 10b-18, depending on market conditions, alternative uses of capital, and other relevant factors. Purchases may be commenced, suspended, or discontinued at any time without prior notice.
The new program terminates the Company’s
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Certain statements in this press release contain “forward-looking
statements.” All statements other than statements of historical fact are
“forward-looking statements” for purposes of federal and state
securities laws, including the following: the section of this press
release entitled “Outlook”; any projections of earnings, revenue or
other financial items relating to the Company, any statement of the
plans, strategies and objectives of management for future operations;
any statements concerning proposed future growth rates in the markets we
serve; any statements of belief; any characterization of and the
Company’s ability to control contingent liabilities; anticipated trends
in the Company’s businesses; and any statements of assumptions
underlying any of the foregoing. Forward-looking statements may include
the words “may,” “would,” “estimate,” “intend,” “continue,” “believe,”
“expect,” “anticipate,” and other similar words. Although the Company
believes that the expectations reflected in any forward-looking
statements are reasonable, actual results could differ materially from
those projected or assumed in any of our forward-looking statements. Our
future financial condition and results of operations, as well as any
forward-looking statements, are subject to change and to inherent risks
and uncertainties beyond the control of the Company. These risks and
uncertainties include, but are not limited to, risks and uncertainties
relating to general economic conditions, geopolitical factors, future
levels of general industrial manufacturing activity, future financial
performance, market acceptance of new or enhanced versions of the
Company’s products, the pricing of raw materials, changes in the
competitive environments in which the Company’s businesses operate, the
outcome of pending or future litigation and governmental proceedings and
approvals, estimated legal costs, increases in interest rates, tax
legislation and changes, the Company’s ability to meet its debt
obligations, the Company’s ability to acquire and integrate
complementary businesses, and risks and uncertainties listed or
disclosed in the Company’s reports filed with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005809/en/
Source:
RBC Bearings
Ernest D. Hawkins
203-267-5010
ehawkins@rbcbearings.com
Alpha
IR Group
Michael Cummings
617-461-1101
investors@rbcbearings.com