NN Ball & Roller (Erwin, TN) reported 4Q1999 and fiscal-year 1999 operating results.

Net sales for the year rose from $73.00 million to $85.29 million. However, overall Net Income improved only slightly, from 1998's $7.65 million to $7.76 million.

Results for 1999 include sales and income from Industrial Molding Corporation, acquired by NN in July. IMC contributed sales of USD 17.56 million and Net Income of USD .45 million for 1999.

NN's President and CEO, Rock Baty, commented on the results in a company press release: "We are also very pleased with our full year performance; financially, operationally and strategically. Despite lower revenues in the first half of the year, we were able to maintain historic profit levels as a result of operational initiatives implemented in the fourth quarter of 1998."

Mr. Baty went on to say, "On the operational front, all four of our ball and roller manufacturing operations performed exceptionally well despite lower production rates, capacity utilization and reduced inventory levels. IMC has successfully integrated into NN, supported by the fact that it is a profitable and well-managed business with similar culture and values."

Regarding upcoming and current projects and joint ventures (see other stories in the eBearing News), Mr. Baty had this to say: "Additionally, we have made solid progress on the feasibility study associated with the creation of a joint venture for the production of balls with our two major European customers: SKF (Gothenburg, Sweden) and FAG Kugelfischer Georg Schafer AG (Schweinfurt, Germany). We expect to reach a conclusion regarding the feasibility of the joint venture in the next several months. Lastly, we are excited about joining forces with General Bearing Corporation and the premier ball company in China, Jiangsu Steel Ball. As we announced in January of this year, the new venture will enable us to expand our global manufacturing reach, broaden our product offerings and establish a presence in the rapidly-growing Asian marketplace."