NN Jaeschke, Inc.'s Eli Crenshaw Named to BIA Sales and Marketing Council ...
01.01.70
SAN DIEGO, Nov 07, 2011 (BUSINESS WIRE) --
N.
N. Jaeschke, Inc. (NNJ), an Associa
company, is proud to announce that Business Development Manager Eli
Crenshaw has been named to the 2012 Board of Directors for the Building
Industry Association's (BIA) Sales and Marketing Council.
The Sales & Marketing Council of the Building Industry of San Diego
exists to promote a high level of professionalism through enhanced
educational and motivational programs that enable membership to respond
to housing challenges, opportunities and trends within the community.
The Council currently has more than 136 members. Of that group, a
current member must be nominated to the board by a current board member.
Later they must pass an extensive interview with the sitting board
before being named to the following year's board.
Crenshaw will be officially welcomed as a new board member in 2012. He
has already been assigned to the Board's Membership Committee, where he
will be responsible for increasing the Council's membership.
Source: MarketWatch (press release)
NN posts 3rd-qtr profit; forecast weighs on shares
01.01.70
Shares of NN Inc. plunged in Tuesday trading after the manufacturer of industrial plastic, rubber and metal components posted a third-quarter profit, reversing a year-ago loss, but lowered its full-year revenue forecast.
NN said it earned $4.7 million, or 28 cents per share, for the three months that ended Sept. 30. That compared with a loss of $1 million, or 6 cents per share, a year earlier.
The recent quarter benefited from foreign currency exchange gains on intercompany loans. Excluding that gain, net income from normal operations was $3.3 million, or 20 cents per share.
Revenue rose 11 percent to $101.1 million, from $91 million last year.
NN said about $2 million of the revenue gain was due to increased sales for its precision metals segment and increased demand at the U.S. and China operations of its metal bearings segment. Those gains were offset by decreased demand at European operations of its metal bearings segment.
The company said the third quarter was the weakest of the year due to normal seasonality of its business, especially in Europe. Weak demand in the automotive industry in Europe also hurt sales.
Source: BusinessWeek