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Exhibit 99.1 Press release RBC Bearings Incorporated Announces Fiscal 2022 First Quarter Results Oxford , CT - August 5 , 2021 - RBC Bearings Incorporated ( Nasdaq : ROLL ) , a leading international manufacturer of highly engineered precision bearings and components for the industrial , defense and aerospace industries , today reported results for the first quarter of fiscal year 2022 . First Quarter Financial Highlights Fiscal 2022 Fiscal 2021 Change ( $ in millions ) Net sales Gross margin GAAP Adjusted ( 1 ) GAAP Adjusted ( 1 ) GAAP Adjusted ( 1 ) $ 156.2 $ 156.5 -0.2 % $ 63.8 $ 59.5 7.3 % Gross margin % 40.8 % 38.0 % Operating income $ 30.7 $ 31.3 $ 28.8 $ 29.9 6.6 % 4.5 % Operating income % 19.7 % 20.0 % 18.4 % 19.1 % Net income $ 26.0 $ 26.3 $ 22.7 $ 23.6 14.6 % 11.4 % Diluted EPS $ 1.03 $ 1.04 $ 0.91 $ 0.95 13.2 % 9.5 % ( 1 ) Results exclude items in reconciliation below . Dr. Michael J. Hartnett , Chairman and Chief Executive Officer , said , “ First quarter results were in line with our expectations . Our team maintained a high level of execution which allowed us to build on momentum from the fourth quarter . Strong order rates from industrial customers continued over the period ; the outlook is one of increasing demand for our products as these markets continue to rebound . Following recent announcements of build rate increases for single - aisle commercial aircraft , we see escalating demand for our aircraft bearings and assemblies in the second half of the year . ” First Quarter Results Net sales for the first quarter of fiscal 2022 were $ 156.2 million , a decrease of 0.2 % from $ 156.5 million in the first quarter of fiscal 2021 . Net sales for the industrial markets increased 31.0 % while aerospace net sales decreased 18.3 % . Gross margin for the first quarter of fiscal 2022 was $ 63.8 million compared to $ 59.5 million for the same period last year . SG & A for the first quarter of fiscal 2022 was $ 29.8 million , an increase of $ 3.0 million from $ 26.8 million for the same period last year . The increase was primarily due to higher personnel - related costs of $ 2.4 million and $ 0.6 million of other items . As a percentage of net sales , SG & A was 19.1 % for the first quarter of fiscal 2022 compared to 17.1 % for the same period last year .