NN Inc. reports a 4Q loss of $14.1M

  • Fourth quarter loss
    Fourth quarter loss
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CHARLOTTE, N.C. (AP) – NN Inc. (NNBR) on Thursday, March 12, 2020, reported a loss of $14.1 million in its fourth quarter.

The Charlotte, North Carolina-based company said it had a loss of 35 cents per share. Earnings, adjusted for one-time gains and costs, came to 14 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 14 cents per share.

The industrial parts maker posted revenue of $198.6 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $200.4 million.

For the year, the company reported that its loss narrowed to $46.7 million, or $1.13 per share. Revenue was reported as $847.5 million.

In the final minutes of trading on Thursday, the company's shares hit $4.21. A year ago, they were trading at $9.13.