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SEC Filings

10-Q
NN INC filed this Form 10-Q on 08/14/2017
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Table of Contents

Note 3. Net Income (Loss) Per Share

 

     Three Months Ended      Six Months Ended  
     June 30,      June 30,  
     2017      2016      2017      2016  

Net income (loss)

   $ (21,529    $ 2,119      $ (14,122    $ 760  

Weighted average shares outstanding

     27,468        27,024        27,358        26,923  

Effect of dilutive stock options

     —          163        —          127  
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted shares outstanding

     27,468        27,187        27,358        27,050  
  

 

 

    

 

 

    

 

 

    

 

 

 

Basic net income (loss) per share

   $ (0.78    $ 0.08      $ (0.52    $ 0.03  
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted net income (loss) per share

   $ (0.78    $ 0.08      $ (0.52    $ 0.03  
  

 

 

    

 

 

    

 

 

    

 

 

 

For both the three and six month periods ended June 30, 2016, approximately 0.9 million potentially dilutive stock options had the effect of being anti-dilutive and were excluded from the calculation of diluted net income per share. Given the net loss for the three and six months ended June 30, 2017, all options are considered anti-dilutive and were excluded from the calculation of diluted net loss per share.

Note 4. Segment Information

The segment information and the accounting policies of each segment are the same as those described in the Notes to Consolidated Financial Statements entitled “Segment Information” and “Summary of Significant Accounting Policies and Practices,” respectively, included in our 2016 Annual Report. Our business is aggregated into three reportable segments- the Precision Bearing Components Group, the Precision Engineered Products Group, and the Autocam Precision Components Group. We did not have any significant inter-segment transactions during the three and six month periods ended June 30, 2017 and 2016.

 

     Precision
Bearing
Components
Group
     Autocam
Precision
Components
Group
     Precision
Engineered
Products
Group
     Corporate
and
Consolidations
    Total  

Three Months ended June 30, 2017

             

Revenues from external customers

   $ 67,928      $ 86,658      $ 71,289      $ —       $ 225,875  

Income (loss) from operations

   $ 8,351      $ 10,688      $ 10,600      $ (9,046   $ 20,593  

Six Months ended June 30, 2017

             

Revenues from external customers

   $ 136,687      $ 173,104      $ 142,398      $ —       $ 452,189  

Income (loss) from operations

   $ 16,752      $ 21,289      $ 21,514      $ (16,804   $ 42,751  

Total assets

   $ 240,666      $ 427,453      $ 723,122      $ 14,575     $ 1,405,816  

Three Months ended June 30, 2016

             

Revenues from external customers

   $ 65,157      $ 82,991      $ 66,124      $ —       $ 214,272  

Income (loss) from operations

   $ 6,474      $ 7,770      $ 10,782      $ (7,724   $ 17,302  

Six Months ended June 30, 2016

             

Revenues from external customers

   $ 129,902      $ 166,981      $ 129,615      $ —       $ 426,498  

Income (loss) from operations

   $ 12,800      $ 14,297      $ 16,203      $ (14,214 )   $ 29,086  

Total assets

   $ 226,943      $ 418,664      $ 740,475      $ 8,651     $ 1,394,733  

 

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