CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — NN Inc. (NNBR) on Monday reported a loss of $12.5 million in its first quarter.
On a per-share basis, the Charlotte, North Carolina-based company said it had a loss of 34 cents. Losses, adjusted for non-recurring costs, came to 8 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The industrial parts maker posted revenue of $121.2 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $121.8 million.
NN expects full-year revenue in the range of $485 million to $505 million.
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