Holder continued, As previously committed, beginning with the fourth quarter we will initiate a more comprehensive set of financial guidance designed to
help our shareholders have the appropriate information to accurately evaluate our performance. This will include sales, adjusted EBITDA, adjusted operating margin, and adjusted earnings per share. With the completion of the PEP acquisition we will
also begin excluding non-cash amortization charges from our adjusted earnings per share. We believe removing these charges provides the shareholder with the best evaluation of the Companys performance.
The full set of financial guidance for the fourth quarter and 2016 can be found in our supplemental deck on our website.
Holder concluded, I am encouraged with our results in the face of an ever changing macro environment. Our focus this year on implementing the NN
Operating System and managing our organizational flex has had a significant impact on the quarter as we were able to deliver operating improvements in all of our businesses. Finally, with the announcement and subsequent close of the PEP acquisition
we remain focused on executing our strategic plan.
NN will discuss its results during its quarterly investor conference call tomorrow morning
starting at 9:00 a.m. ET. The call and an accompanying slide presentation may be accessed via NNs website. The conference call can also be accessed by dialing 888-427-9376; conference id 5901109. For those who are unavailable to listen
to the live broadcast, a replay will be available shortly after the call for 90 days.
The attached financial tables include a reconciliation of adjusted
income from operations, adjusted net income and adjusted earnings per share to the U.S. GAAP financial measures of income from operations and net income.
NN, Inc., a diversified industrial company 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. Headquartered in Johnson City, Tennessee, NN has 43 manufacturing plants in the North America, Western Europe, Eastern Europe, South America and China.
Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or
expenditures, statements of plans and objectives or future operations or statements of future economic performance. These, and similar statements, are forward-looking statements concerning matters that involve risks, uncertainties and other factors
which may cause the actual performance of NN, Inc. and its subsidiaries to differ materially from those expressed or implied by this discussion. All forward-looking information is provided by the Company pursuant to the safe harbor established under
the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. Forward-looking statements generally can be identified by the use of forward-looking terminology such as assumptions,
target, guidance, outlook, plans, projection, may, will, would, expect, intend, estimate, anticipate,
believe, potential or continue (or the negative or other derivatives of each of these terms) or similar terminology. Factors which could materially affect actual results include, but are not limited to: general
economic conditions and economic conditions in the industrial sector, inventory levels, regulatory compliance costs and the Companys ability to manage these costs, start-up costs for new operations, debt reduction, competitive influences,
risks that current customers will commence or increase captive production, risks of capacity underutilization, quality issues, availability and price of raw materials, currency and other risks associated with international trade, the Companys
dependence on certain major customers, and the successful implementation of the global growth plan including development of new products. Similarly, statements made herein and elsewhere regarding pending or completed acquisitions are also
forward-looking statements, including statements relating to the anticipated closing date of an acquisition, the Companys ability to obtain required regulatory approvals or satisfy closing conditions, the costs of an acquisition and the
Companys source(s) of financing, the future performance and prospects of an acquired business, the expected benefits of an acquisition on the Companys future business and operations and the ability of the Company to successfully
integrate recently acquired businesses.