Key Developments: NN Inc (NNBR.OQ)
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Latest Key Developments (Source: Significant Developments)
NN Inc Announces Reinstatement of Dividend
NN Inc announced that its Board of Directors declared a quarterly cash dividend of $0.06 per common share. The dividend will be paid on July 9, 2013, to shareholders of record as of the close of business on June 25, 2013. Full Article
NN Inc Elects Independent Director G. Ronald Morris As Non-Executive Chairman
NN Inc announced that Board of Directors has appointed G. Ronald Morris to serve as non-executive Chairman. Mr. Morris, who has served as an independent director of the NN, Inc. Board since 1994, will succeed retiring Chairman and Chief Executive Officer Roderick R. Baty effective June 3, 2013. On May 10, 2013, the Company announced that Richard D. Holder would take over the executive position of President and Chief Executive Officer being vacated by Mr. Baty. Full Article
NN Inc Appoints Richard D. Holder As President And Chief Executive Officer
NN Inc announced that its Board of Directors has appointed Richard D. Holder to serve as President and Chief Executive Officer. Mr. Holder, who is currently the President of Electrical Components for Eaton Corporation's Electrical Sector, will begin his new role with NN effective June 3, 2013. Mr. Holder is taking over the executive position being vacated by Roderick R. Baty who in September of 2012 announced his plan to retire in May of this year. Mr. Holder will also assume the remainder of Mr. Baty's unexpired term on the Board which runs through the annual meeting of 2015. The Board plans to elect a non-executive director to fill the Chairman position. Full Article
NN Inc Issues FY 2013 Revenue Guidance Below Analysts' Estimates
NN Inc announced that for fiscal 2013, it expects revenues to be in the range of $365 million to $375 million, relatively consistent with 2012 revenues of $370 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $384 million for fiscal 2013. Full Article
Roderick R. Baty, Chairman And CEO Of NN Inc Announces Plan For Retirement
NN, Inc announced that Chairman and Chief Executive Officer, Roderick R. Baty has informed the Board that he will retire by the Company's next annual meeting of stockholders to be held in May of 2013. Mr. Baty will also step down from the Board at that time. Mr. Baty will work with the Board to assure a smooth and successful transition. Mr. Baty has served as President and Chief Executive Officer since July 1997. In September of 2001 he was elected Chairman of the Board. He joined NN in July 1995 as Vice President and Chief Financial Officer and was elected to the Board of Directors in 1995. Full Article
NN, Inc. Lowers FY 2012 Revenue Guidance
NN, Inc. announced that given the uncertainty and lack of visibility, it is lowering the range of its revenue guidance from $415 million to $425 million to $390 million to $400 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $414 million for fiscal 2012. Full Article
NN, Inc. Reaffirms FY 2012 Revenue Guidance
NN, Inc. reaffirmed fiscal 2012 revenue guidance to be in the range $415 - $425 million. Full Article
NN, Inc. Issues FY 2012 Revenue Guidance Below Analysts' Estimates; Comments On FY 2012 Earnings Guidance
NN, Inc. announced that for fiscal 2012, it expects revenue to be in the range of $415 million to $425 million, relatively consistent with fiscal 2011 revenues of $425 million after adjusting for currency. The Company expects improvement in net income and earnings per share (EPS) for fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $430 million, net income of $21.15 million and EPS of $1.24 for fiscal 2012. Full Article
NN, Inc. Lowers FY 2011 Revenue Guidance; Comments On Q4 2011 Revenue Guidance
NN, Inc. announced that for fiscal 2011, it expects revenue to be closer to a range of $425-$430 million from prior range of $435-$440 million. For the fourth quarter 2011, it expects revenues to be flat to slightly down sequentially to the third quarter of 2011 revenues. The Company reported revenue of $101.14 million in the third quarter of 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $438.5 million for fiscal 2011. Full Article

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