General Bearing Corp. (GNRL.PK)

General Bearing Corporation engages in the manufacture, sourcing, assembly, and distribution of bearings and bearing components. The company offers its products under ‘Hyatt’ and ‘The General’ trademarks. Under ‘The General’ trademark, it produces ball bearings for various products, including copying machines, automotive steering columns, postal equipment, wheelchairs, and other applications. Under the ‘Hyatt’ brand, it produces tapered roller bearings, tapered journal bearings, spherical roller bearings, and cylindrical roller bearings, which are used in railroad, truck/trailer, automotive, and other industrial applications. The company sells its products to original equipment manufacturers and the industrial aftermarket, primarily in the United States and Asia. It markets its products through its own sales force and independent sales representative organizations. General Bearing’s was founded by Seymour Gussack in 1958. The company is headquartered in West Nyack, New York.

For the 13 weeks ended 04/02/05, sales rose 49% to $27.2 million. Net income totaled $1.9 million, up from $687 thousand. Revenues reflect increase in product sales. Net income also benefited from improved gross margins and lower cost of sales as a percent of sales.