NN Inc. sales up 10.8 percent
NN Inc. said its net sales for the second quarter of 2014 increased 10.8% to $106.7 million, compared to $96.3 million for the second quarter of 2013.
This increase included approximately $4.1 million in net sales from the acquisition of the assets of V-S Industries. Continued strong demand in Asia and improved demand from European automotive markets accounted for the remainder of the increase.
Reported net income for the quarter was $5.2 million, or 29 cents per diluted share, compared to $4.8 million, or 28 cents, for the same period last year.
Net sales for the first six months of 2014 increased 10.0 % to $209.2 million, compared to $190.1 million for the first six months of 2013. This included approximately $5.9 million in net sales from the acquisition of the assets of V-S Industries.
Reported net income for the first six months of 2014 was $10.4 million, or 58 cents per diluted share, compared to $7.6 million, or 45 cents, for the comparable period last year.
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.
