Hot Stock Alert: NN Inc. (NASDAQ: NNBR) – News Description

Hot Stock Alert: NN Inc. (NASDAQ: NNBR)

CHARLOTTE, N.C., October 9, 2019 – Shares of NN Inc. (NASDAQ: NNBR) declined -2.35% to $6.45. The stock traded total volume of 165.266K shares lower than the average volume of 249.74K shares.

On a GAAP basis for first quarter of 2019, NN, Inc., (NNBR) reported net loss of $18.60M, compared to net loss on a GAAP basis of $6.00M in the first quarter of 2018. The first quarter of 2019 net loss included a discrete tax charge of $6.00M related to final tax regulations published by the Department of the Treasury and Internal Revenue Service. In addition, the first quarter of 2019 included $2.70M in debt extinguishment costs.

First Quarter:

Net sales for the first quarter of 2019 increased $44.10M, or 26.1%, to $213.30M, compared to $169.10M for the first quarter of 2018. Growth was driven by $55.20M from acquisitions, partially offset by lower organic volume of $8.00M and unfavorable foreign currency impacts of $2.80M.

On a GAAP basis, income from operations for the first quarter of 2019 was $0.60M, compared to income from operations of $3.70M for the same period in 2018.  In the first quarter of 2019, income from operations included an increase in selling, general and administrative expense of $5.90M, compared to the first quarter of 2018, primarily due to the 2018 business acquisitions which collectively contributed $5.00M to selling, general and administrative expense. These increases were partially offset by lower costs for professional services and a reduction in acquisition related costs as there was no business acquisition activity during the first quarter of 2019.

On a GAAP basis, income from operations for first quarter 2019 in the Life Sciences segment was $3.80M, compared to $4.20M for the same period in 2018.

On a GAAP basis, income from operations for first quarter 2019 in the Mobile Solutions segment was $4.10M, compared to income from operations of $9.80M for the same period in 2018.

On a GAAP basis, income from operations for first quarter 2019 in the Power Solutions segment was $3.80M, compared to income from operations of $5.20M for the same period in 2018.

Adjusted Results

First Quarter:

Adjusted income from operations for the first quarter of 2019 was $23.10M, compared to $17.80M for the same period in 2018. Adjusted net income was $8.50M, or $0.20 per diluted share, compared to $8.70M, or $0.32 per diluted share, for the same period in 2018. Adjusted income from operations growth was primarily driven by acquisitions, partially offset by lower organic volume and unfavorable foreign currency impacts. Additionally, first quarter 2019 earnings per share was impacted by the issuance of 14.40M shares in the third quarter of 2018.

NNBR has the market capitalization of $268.63M and its EPS growth ratio for the past five years was -59.60%. The return on assets ratio of the Company was -16.20% while its return on investment ratio stands at -14.30%. Price to sales ratio was 0.32.

About the Author

Mel Villarreal
Mel Villarreal
I am Mel Villarreal and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind News Description with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Industrial Goods” category. Address: 2171 Medical Center Drive Venice, FL 34285, USA Phone: (+1) 941-492-9329 Email: [email protected]

Be the first to comment on "Hot Stock Alert: NN Inc. (NASDAQ: NNBR)"

Leave a comment

Your email address will not be published.


*


thirteen − 9 =