Thread regarding Regal-Beloit Corp. layoffs

July 31, 2013 Saying that demand for its heating, ventilation and cooling products was down in commercial and industrial businesses, Regal...

July 31, 2013

Saying that demand for its heating, ventilation and cooling products was down in commercial and industrial businesses, Regal Beloit Corp. on Wednesday reported lower quarterly earnings.

The Beloit-based company earned $51.1 million, or $1.13 per share, in its second fiscal quarter, down from $62.7 million, or $1.49 per share, in the same quarter a year ago.

Regal Beloit had $822 million in sales in the recent quarter, down 5% from $863.9 in the second quarter of 2012.

"Demand in our North American commercial and industrial businesses remained sluggish, although order rates stabilized during the quarter," company chairman and CEO Mark Gliebe said in a news release.

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