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Collaboration is the Seoul of Success Second Gathering between the Republic of South Korea and U S A Strategic Infrastructure Summit Takes Place in Washington D C
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NN, Inc Names Mike Felcher as Chief Financial Officer
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CHARLOTTE, N.C., May 6, 2021 /PRNewswire/ NN, Inc. (NASDAQ: NNBR), a diversified industrial company, today reported its financial results for the first quarter ended March 31, 2021.
GAAP Results
Net sales for the first quarter of 2021 increased $10.6 million, or 9.1%, to $126.8 million, compared to $116.2 million for the first quarter of 2020, led by strong sales from Mobile Solutions, which increased 11.3%.
On a GAAP basis, income from operations for the first quarter of 2021 was $1.0 million, compared to loss from operations of $103.9 million for the same period in 2020. In the first quarter of 2021, the income from operations was primarily driven by an increase in sales volume and cost reduction initiatives. Income from operations for the first quarter of 2020 was impacted by a non-cash goodwill impairment of $92.9 million in the Power Solutions segment.
Wicked Local
In the span of a year, a local group concerned about the welfare of their neighbors during the COVID pandemic expanded from 49 to thousands of people wanting to help.
Newton Neighbors Helping Neighbors (NNHN) was created in March 2020 after resident Shalini A. Tendulkar asked a question on a Newton parents’ Facebook page right after the start of the pandemic: “Do we know what would happen to families whose kids get free or reduced-cost lunches at school if the schools shut down?”
After almost 50 people responded, sharing the concern, Tendulkar created a separate Facebook group to address the issue and “find other ways to support our community,” she said previously.
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