RBC RBC Bearings Incorporated

BELOIT, Wis., April 27 /PRNewswire-FirstCall/ -- Regal Beloit Corporation (NYSE:RBC) today provided an updated business outlook for the second fiscal quarter of 2009. During the Company's fourth quarter earnings conference call, management stated that they expected the second quarter to show sequential sales and earnings growth as compared to the first quarter. This expectation was supported by assumptions for normal seasonal sales growth, the ending of inventory liquidation by its customers and the completion of the Company's internal inventory reduction efforts. The Company now believes that it will not experience seasonal increases in revenue and that the inventory liquidation by its customers will continue into the second quarter. Additionally, while the Company did reduce inventory levels of its products during the first quarter, the current business levels will necessitate further inventory reductions resulting in production levels being reduced below current demand levels. Given these assumptions, sales and earnings in the second quarter are expected to be similar to those of the first quarter. While these factors have resulted in a reduction in expectations for the second quarter, the Company is optimistic about the impact of its initiatives and prospects for the future. The significant plant restructuring underway, the expected contribution from lower raw material costs and the increasing demand for energy efficient products, in part driven by extensive legislation, will contribute to growth in sales and earnings beyond the second quarter. The Company will be releasing first quarter results on May 6 after the close of the market and will provide specific guidance regarding the second quarter. The release will be followed by a conference call on May 7 at 10:30 AM CT (11:30 AM ET). Interested parties should call 866-394-7807, referencing Regal Beloit conference ID 96496426. International callers should call 763-488-9117 using the same conference ID. Regal Beloit Corporation is a leading manufacturer of mechanical and electrical motion control and power generation products serving markets throughout the world. Regal Beloit Corporation is headquartered in Beloit, Wisconsin, and has manufacturing, sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia. CAUTIONARY STATEMENT This Press Release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our management's judgment regarding future events. In many cases, you can identify forward-looking statements by terminology such as "may," "will," "plan," "expect," "anticipate," "estimate," "believe," or "continue" or the negative of these terms or other similar words. Actual results and events could differ materially and adversely from those contained in the forward-looking statements due to a number of factors, including: -- economic changes in global markets where we do business, such as reduced demand for products we sell, currency exchange rates, inflation rates, interest rates, recession, foreign government policies and other external factors that we cannot control; -- unanticipated fluctuations in commodity prices and raw material costs; -- cyclical downturns affecting the global market for capital goods; -- unexpected issues and costs arising from the integration of acquired companies and businesses; -- marketplace acceptance of new and existing products including the loss of, or a decline in business from, any significant customers; -- the impact of capital market transactions that we may effect; -- the availability and effectiveness of our information technology systems; -- unanticipated costs associated with litigation matters; -- actions taken by our competitors; -- difficulties in staffing and managing foreign operations; and -- other risks and uncertainties including but not limited to those described in Item 1A-Risk Factors of the Company's Annual Report on Form 10-K filed on February 25, 2009 and from time to time in our reports filed with U.S. Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the applicable cautionary statements. The forward-looking statements included in this press release are made only as of their respective dates, and we undertake no obligation to update these statements to reflect subsequent events or circumstances. See also Item 1A - Risk Factors in the Company's Annual Report on Form 10-K filed on February 25, 2009. DATASOURCE: Regal Beloit Corporation CONTACT: David A. Barta, Vice President, Chief Financial Officer of Regal Beloit Corporation, +1-608-361-7405 Web Site: http://www.regal-beloit.com/

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