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NN warns of 2005 earnings shortfall

Resource from:  CBCC Likes:2936
Oct 19,2005
NEW YORK, Oct 18 (Reuters) - Precision ball bearing manufacturer NN Inc. on Tuesday said 2005 earnings would be lower than it had previously forecast on weak European sales, currency losses and a reserve for accounts receivable from Delphi Corp. The company said it now expects to report earnings per share of 77 cents to 81 cents, down from a prior view of 90 cents to 94 cents. NN shares were down 6.5 percent at $11.06 in afternoon trade on Nasdaq.
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