CHARLOTTE, N.C. (AP) _ NN Inc. (NNBR) on Thursday reported third-quarter net income of $22 million, after reporting a loss in the same period a year earlier.
The Charlotte, North Carolina-based company said it had net income of 45 cents per share. Earnings, adjusted to account for discontinued operations, came to 7 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The industrial parts maker posted revenue of $113.8 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $180 million.
NN shares have decreased 36% since the beginning of the year. The stock has dropped 28% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NNBR at https://www.zacks.com/ap/NNBR
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