NN: 2Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ NN Inc. (NNBR) on Thursday reported a loss of $6.7 million in its second quarter.
The Charlotte, North Carolina-based company said it had a loss of 16 cents per share. Earnings, adjusted for one-time gains and costs, came to 25 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The industrial parts maker posted revenue of $221.7 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $218 million.
NN shares have declined 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.24, a drop of 71% in the last 12 months.