Bearings manufacturer NN Inc. (NASDAQ: NNBR), Johnson City, TN, reported second-quarter sales of $106.7 million, a 10.8 percent increase over the same period a year ago. Profit grew 8 percent to $5.2 million.
For the first six months of 2014, sales were $209.2 million, a year-over-year increase of 10 percent. Profit 37 percent to $10.4 million.
“The strong sales momentum that began in 2013 continued into the second quarter of this year,” said Richard Holder, president and CEO. “We again benefited from sustained growth, share gains and product expansion in our Asian and European markets. Sales in North America were in line with our markets.”
NN also agreed to acquire Autocam Corp., Grand Rapids, MI, a manufacturer of components for fuel systems, engines and transmission, power steering and electric motors.