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NN, INC. REVISES 2005 SECOND QUARTER AND SIX MONTH ENDED JUNE 30, 2005 REPORTED EARNINGS

Resource from:  CBCC Likes:2965
Aug 10,2005
Johnson City, Tenn, August 8, 2005 ?NN, Inc. (Nasdaq: NNBR) today reported that it was revising its 2005 second quarter and six month ended revenues and earnings per share previously reported in its earnings release and SEC Form 8-K dated July 28, 2005. The revision is the result of the Company discovering a sales invoicing issue, subsequent to the release of its 2005 second quarter earnings, which affected a single customer at its Industrial Molding Division. This revision will reduce reported revenues by approximately $0.4 million from $84.2 million and $170.9 million to $83.8 million and $170.5 for the 2005 second quarter and six months ended June 30, 2005, respectively. Additionally, the revision will reduce reported diluted earnings per share of $0.21 and $0.44 to $0.19 and $0.43 per diluted share for the same periods, respectively. The Company will file its June 30, 2005 Form 10-Q on August 9, 2005, which will reflect the revised amounts. NN, Inc. manufacturers and supplies high precision bearing components consisting of balls, rollers, seals, and retainers for leading bearing manufacturers on a global basis. In addition, the company manufactures a variety of other plastic components. NN, Inc. had sales of US $304 million in 2004.
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