NN Inc. sales up 9.3 percent
NN Inc. reported net sales for the first quarter of 2014 were $102.5 million, an increase of 9.3% compared to the same period of 2013.
Reported net income for the quarter was $5.2 million, or 29 cents per diluted share, compared to $2.9 million, or 17 cents, for the same period last year.
"The improving economic recovery in Europe, sustained strong growth in China and improving share position and adjacent product expansion were the main drivers behind this positive growth. Sales growth in North America was more modest due to a sluggish automotive market that was negatively affected by the harsh weather experienced in January and February," said Richard Holder, president and chief executive officer.
NN Inc. manufacturers and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of markets on a global basis.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
