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NN meets 4Q profit forecasts

JOHNSON CITY, Tenn. (AP) _ NN Inc. (NNBR) on Wednesday reported fourth-quarter net income of $3.4 million, after reporting a loss in the same period a year earlier.

The Johnson City, Tennessee-based company said it had profit of 12 cents per share. Earnings, adjusted for one-time gains and costs, came to 35 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 35 cents per share.

The industrial parts maker posted revenue of $202 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $203.2 million.

For the year, the company reported net income of $8.3 million, or 30 cents per share, swinging to a profit in the period. Revenue was reported as $833.5 million.

NN shares have climbed roughly 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.70, an increase of 67 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NNBR at https://www.zacks.com/ap/NNBR


Keywords: NN Inc., Earnings Report