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NN, Inc. Reports Strong Sales Growth And Margin Improvement For Second Quarter 2021

NN, Inc. Reports Strong Sales Growth And Margin Improvement For Second Quarter 2021
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NN, Inc. Reports Strong Sales Growth And Margin Improvement For Second Quarter 2021

NN, Inc. Reports Strong Sales Growth And Margin Improvement For Second Quarter 2021
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NN, Inc. Reports Strong Sales Growth And Margin Improvement For Second Quarter 2021

NN, Inc. Reports Strong Sales Growth And Margin Improvement For Second Quarter 2021
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.

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NN, Inc. Names Mike Felcher as Chief Financial Officer

NN, Inc. Names Mike Felcher as Chief Financial Officer
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NN, Inc. Reports Strong Sales Growth And Improved Operating Margins For First Quarter 2021

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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. ....

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