NN NNBR today reported its financial results for the fourth quarter and year ended December 31, 2010. Net sales for the fourth quarter were $96.3 million, up $18.1 million or 23.1% from $78.3 million for the comparable period of 2009. Approximately $19.3 million of this growth was due to increased sales volumes associated with recovering global demand for the Company's products, particularly in the automotive and industrial end markets. Raw material pass-through and price increases accounted for $1.8 million of the increase while favorable mix accounted for $1.4 million. These increases were partially offset by negative foreign currency translation of $4.4 million.
Net income for the fourth quarter of 2010 of $2.1 million, or $0.12 per diluted share, included $3.0 million, net of tax of non-operating costs which is comprised of $2.0 million in start-up costs associated with new programs in our Precision Metal Components segment and $1.1 million in plant closing, restructuring and impairment charges. Net income from normal operations in the fourth quarter of 2010 was $5.1 million, or $0.30 per diluted share compared to net loss from normal operations of $1.9 million, or $(0.12) per diluted share for the same period in 2009.
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