Revenues Up 12%, Earnings Per Share Up 75%
Johnson City, Tenn, July 28, 2005 ?NN, Inc. (Nasdaq: NNBR) today reported its financial results for the second quarter ended June 30, 2005. Net sales for the second quarter of 2005 rose 11.8% to $84.2 million from $75.3 million for the same period of 2004. Net income for the second quarter of 2005 totaled $3.6 million, or $0.21 per diluted share, compared to $2.0 million, or $0.12 per diluted share for the second quarter of 2004, an increase of 80.0% and 75.0% respectively.
Net sales for the first half of 2005 were $170.9 million, up 11.8%, compared to $152.9 million for the same period of 2004. Net income for the first half of 2005 totaled $7.6 million, or $0.44 per diluted share, compared to $5.2 million, or $0.30 per diluted share for the same period of 2004, an increase of 46.2% and 46.7% respectively.
James H. Dorton, Vice President and Chief Financial Officer, commented,
Product Model | Inside Diameter | Outside Diameter | Thickness |
PSHEY25 bearing | 25 | 70 | 27 |
TSHE25 bearing | 25 |