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NN, Inc. (Nasdaq: NNBR) today reported its financial results for the fourth quarter and year ended December 31, 2009. Net sales for the fourth quarter of 2009 were $78.3 million, up $2.1 million or 2.7% from $76.2 million for the same period of 2008. Approximately $1.5 million of the increase was due to increased sales volumes associated with increased global automotive and industrial demand. Foreign currency translation had an additional positive impact of $4.3 million. These increases were partially offset by unfavorable mix issues of $3.0 million and the pass through of approximately $0.7 million in reduced raw material costs.
Net loss for the fourth quarter of 2009 was $3.4 million or $(0.21) per diluted share compared to a net loss of $34.9 million or $(2.14) per diluted share for the fourth quarter of 2008. The results for the fourth quarter of 2008 included $32.2 million, or $1.98 per diluted share in after-tax non-operating charges. Excluding these charges, net loss would have been $2.6 million, or $(0.16) per diluted share. The results for the fourth quarter of 2009 included non-operating charges of $1.5 million net of tax, or $0.09 per diluted share. Excluding these charges, the net loss would have been $1.9 million or $(0.12) per diluted share. These charges were composed of:
restructuring and impairment charges of $0.2 million pre-tax and after-tax, or $0.01 per diluted share;
accelerated depreciation for assets no longer in use (included in depreciation and amortization) of $0.3 million pre-tax and after-tax, or $0.02 per diluted share;
an adjustment to the deferred tax valuation allowance resulting in a negative after-tax impact of $0.9 million or $0.06 per diluted share.
Net sales for the full year were $259.4 million, down $165.5 million or 38.9% compared to $424.8 million for the full year of 2008. Reduced demand for the Company
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| 6910 KOYO | 50 | 72 | 12 |
| 6810 KOYO | 50 | 65 | 7 |