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NN tops Street 1Q forecasts

JOHNSON CITY, Tenn. (AP) _ NN Inc. (NNBR) on Wednesday reported first-quarter net income of $7.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Johnson City, Tennessee-based company said it had profit of 27 cents. Earnings, adjusted for one-time gains and costs, were 47 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The industrial parts maker posted revenue of $226.3 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $215.9 million.

NN shares have risen 43 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.20, a climb of 86 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