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The eBearing News
July 25, 2000
NN Reports Strong Second Quarter 2002 Results
copyright © 2000 eBearing Inc.
NN Inc. (Erwin, Tennessee) reported record sales and earnings for second quarter
2000 and the full first half of 2000.
Second quarter Sales were up 47% from 1999, from $17.5 million to $25.6 million, and Net Income
rose 31% from $1.7 million to $2.2 million.
Gross profit margins improved to 30% from 1999's 28%.
Rock Baty, NN's President and CEO, also indicated that the company's Erwin, Tennessee facility,
is back in full operation. It was heavily damaged by a fire on the morning of March 12, 2000.
• read the article about the Erwin fire
NN has formed NN Asia, a new marketing company aimed at achieving additional top-line growth
through international sales efforts. It will also seek to leverage sales via their Chinese
joint venture with General Bearing, Jiangsu General Ball & Roller Company.
• the article about the Jiangsu joint venture
Further, NN expects to finalize its joint venture by the end of July 2000 which will create
NN Euroball ApS. That company is manufacturing joint venture with NN's two largest customers,
Sweden's SKF and Germany's FAG.
• the article about the formation of NN Euroball ApS
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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