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Share this article Share this article CHARLOTTE, N.C., May 6, 2021 /PRNewswire/ NN, Inc. (NASDAQ: NNBR), a diversified industrial company, today reported its financial results for the first quarter ended March 31, 2021. GAAP Results Net sales for the first quarter of 2021 increased $10.6 million, or 9.1%, to $126.8 million, compared to $116.2 million for the first quarter of 2020, led by strong sales from Mobile Solutions, which increased 11.3%. On a GAAP basis, income from operations for the first quarter of 2021 was $1.0 million, compared to loss from operations of $103.9 million for the same period in 2020.  In the first quarter of 2021, the income from operations was primarily driven by an increase in sales volume and cost reduction initiatives. Income from operations for the first quarter of 2020 was impacted by a non-cash goodwill impairment of $92.9 million in the Power Solutions segment.

North carolinaUnited statesMike danehyWarren veltmanPower solutionsNn incCompany annual report on formExchange commissionPrnewswire nn incLife sciencesCompany quarterly report on formMobile solutionsChief executive officerNorth americaSouth americaPrivate securities litigation reform act