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CHARLOTTE - NN, Inc. (NASDAQ:NNBR) announced Monday it has obtained a Federal Firearms License (FFL) from the Bureau of Alcohol, Tobacco, Firearms and Explosives, enabling the company to produce specific components for firearms manufacturing. The industrial manufacturer, currently valued at approximately $100 million, operates with significant debt levels and faces profitability challenges, according to InvestingPro data.
The global industrial manufacturer, which specializes in high-precision components and assemblies, also revealed it has secured a new weapons customer for its North American machining operations.
The FFL license complements NN’s existing registration with the U.S. Department of State’s Directorate of Defense Trade Controls under the International Traffic in Arms Regulations (ITAR), strengthening its position to serve U.S. and allied defense customers.
"Our Aerospace and Defense business is a focus area and is scaling into a meaningful growth platform for NN," said Harold Bevis, President and Chief Executive Officer of NN, Inc. The company’s strategic pivot comes as its stock has experienced significant volatility, declining over 50% in the past year. InvestingPro analysis reveals 12 additional key insights about NN’s financial health and market position.
The company’s CTO of Machining, Rob Esch, noted that NN’s experience with laser technologies and precision machining of exotic metal alloys led to a "breakthrough with a well-known manufacturer of specialty firearms." The company is currently prototyping and launching parts for several new programs.
NN’s Aerospace and Defense operations provide precision components, plating services, and assemblies used in guidance systems, optics, weapon components, and electronic subsystems.
The company’s General Metal Finishing division has supported defense programs for over 50 years, while its Polymet division supplies aerospace and defense customers with clad metal solutions used in weaponry components and other applications.
NN expects its Aerospace and Defense-related revenue to increase as new opportunities emerge across government programs, prime contractors, and aerospace initiatives, according to the company’s press release statement. Despite current revenue challenges, with a 9.86% decline in the last twelve months, analysts expect improvements in net income this year. For detailed analysis and comprehensive insights, investors can access NN’s full financial health report through InvestingPro’s extensive research platform.
In other recent news, NN Inc. reported its Q2 2025 earnings, revealing an unexpected earnings per share (EPS) of $0.02, which significantly exceeded the forecast of -$0.0033. However, the company experienced a revenue shortfall, posting $107.9 million against an expected $113.44 million. NN Inc. provided forward guidance, projecting full-year net sales between $430 million and $460 million. In addition to its financial results, NN Inc. announced the promotion of Gregg Cottage to Chief Information Officer and Chief Information Security Officer. The company also appointed Mohamad Farhat as Chief Technical Officer for its electrical, defense, and medical businesses. Furthermore, NN Inc. secured the continuation of its joint venture in Wuxi, China, with Weifu, which generates approximately $130 million in annual sales. These developments reflect NN Inc.’s ongoing strategic initiatives and operational adjustments.
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