Following U.S. Stocks are among the “Top Losers” during Early trade Tuesday: NN Inc. (NASDAQ:NNBR), Akorn, Inc. (NASDAQ:AKRX)
NN Inc. (NASDAQ:NNBR), dropped nearly -18.35% in its early trade and is now trading at $21.89.
NEWS Behind This DECLINE:
NN, Inc., (NNBR) a diversified industrial corporation, stated its financial results for the fourth quarter and twelve months ended December 31, 2014.
Fourth Quarter 2014 Results:
Net sales for the fourth quarter raised $63.7 million, or 71% to $153.8 million, as contrast to $90.1 million for the fourth quarter of 2013. This comprised of about $65.9 million in net sales from the four attainments. The influence of foreign exchange translation during the quarter was $2.0 million in sales resulting in an after tax influence of $0.2 million or $0.01 per diluted share for the quarter.
Adjusted revenue from operations which excludes attainment and other related expenses for the fourth quarter was $10.9 million, an raise of 68%, contrast to $6.5 million for the same period in 2013. Adjusted net revenue which excludes attainment and other related expenses raised to $5.7 million or $0.30 per diluted share, contrast to $4.5 million or $0.25 per diluted share for the same period in 2013. These raises can be attributed to the four attainments, in addition to improved operating performance within our legacy business.
Stated revenue from operations for the fourth quarter was $8.6 million which comprised of $2.3 million in attainment, integration and impairment charges, contrast to $6.5 million for the same period in 2013. Stated net revenue for the fourth quarter was $1.6 million or $0.08 per diluted share counting attainment, impairment and other non-recurring charges, contrast to $4.5 million or $0.25 per diluted share for the fourth quarter 2013.
NN, Inc., a diversified industrial corporation manufactures and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of markets on a global basis.
On the other hand, Akorn, Inc. (NASDAQ:AKRX), dipped nearly -14.51% in an opening trade and is now trading at $44.32, soon after Akorn, Inc. (AKRX) reaffirms its 2015 EPS metrics issued on February 26, 2015 calling for proceed of between $960 million and $980 million and adjusted diluted earnings per share (EPS) of between $1.88 and $1.98.
Akorn’s Chief Financial Officer Tim Dick will present at the Barclays Global Healthcare Conference on Thursday, March 12, 2015 at 10:15 a.m. EDT (9:15 a.m. CDT) at the Loews Miami Beach Hotel in Miami Beach, Florida. Mr. Dick’s presentation to investors will be webcast and accessible to interested investors and analysts.
Akorn, Inc. manufactures and markets diagnostic and therapeutic ophthalmic pharmaceuticals, niche hospital drugs, and injectable pharmaceuticals in the United States and internationally.
