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CHARLOTTE - NN, Inc. (NASDAQ:NNBR), a global manufacturer with a market capitalization of $122 million and annual revenue of $434 million, announced Monday the appointment of Mohamad Farhat as Chief Technical Officer for its electrical, defense and medical businesses. According to InvestingPro data, the company faces operational challenges with gross margins under 15%.
Farhat will lead technical engineering functions for the company’s Power Solutions and Medical businesses, reporting to Tim French, Senior Vice President and Chief Operating Officer.
The appointment comes as NN aims to strengthen its customer solutions through innovation. The company recently promoted Robert Esch to lead similar initiatives in its Mobile Solutions segment, which focuses on automotive and industrial markets.
"Moe is an accomplished engineering leader who will make an immediate impact for NN and its customers by leading innovation activities to design, develop, and industrialize electrical, defense and medical products across NN’s global platforms," said French in the press release statement.
Prior to joining NN, Farhat served as Vice President of Engineering for Commercial Vehicle Group, Inc., managing development activities in their electrical design and prototype centers. He previously held positions at Sumitomo, Rigaku, and Flex.
Farhat holds a Bachelor of Science in Biomedical and Electrical Engineering from Lawrence Technological University and a Master of Science in Electrical Engineering from Wayne State University.
NN, Inc. is a global diversified industrial company that designs and manufactures high-precision components and assemblies for various markets, with facilities across North America, Europe, South America, and Asia. The company maintains a current ratio of 1.93, indicating sufficient liquidity to meet short-term obligations, though it operates with a significant debt-to-equity ratio of 3.58. For detailed financial analysis and Fair Value estimates, investors can access the comprehensive Pro Research Report on InvestingPro.
In other recent news, NN Inc. reported its Q2 2025 earnings, revealing a surprising earnings per share (EPS) of $0.02, which significantly exceeded the forecasted -$0.0033. Despite this earnings beat, the company experienced a revenue shortfall, posting $107.9 million compared to the expected $113.44 million. Alongside these results, NN Inc. provided forward guidance, projecting full-year net sales between $430 million and $460 million. No significant mergers or acquisitions were reported for the period. Analyst activity surrounding NN Inc. was not highlighted, with no upgrades or downgrades mentioned. These recent developments are crucial for investors considering the company’s financial health and future prospects.
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