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SEC Filings

8-K
NN INC filed this Form 8-K on 08/23/2017
Entire Document
 


Unaudited Pro Forma Condensed Consolidated Statement of Operations

For the Year Ended December 31, 2015

 

(in thousands, except per share data)

   Consolidated
Historical
NN, Inc.

As Revised
    PBC
Business
    Pro Forma
Adjustments
     Notes      Pro Forma  

Net sales

   $ 667,280     $ (261,837   $ —           $ 405,443  

Cost of products sold (exclusive of depreciation and amortization shown separately below)

     525,993       (205,362           320,631  

Selling, general and administrative expense

     51,780       (16,807           34,973  

Acquisition related costs excluded from selling, general and administrative

     11,682       —               11,682  

Depreciation and amortization

     44,482       (11,496           32,986  

(Gain) loss on disposal of assets

     (687     —               (687

Restructuring and integration expense

     7,268       (1,862           5,406  
  

 

 

   

 

 

   

 

 

       

 

 

 

Income from operations

     26,762       (26,310     —             452  

Interest expense

     29,899       (317           29,582  

Loss on extinguishment of debt and write-off of unamortized debt issuance costs

     19,173       —               19,173  

Derivative payments on interest rate swap

     —         —               —    

Derivative loss on change in interest rate swap fair value

     —         —               —    

Other (income) expense, net

     1,175       (654           521  
  

 

 

   

 

 

   

 

 

       

 

 

 

Income (loss) before provision (benefit) for income taxes and share of net income from joint venture

     (23,485     (25,339     —             (48,824

Provision (benefit) for income taxes

     (11,698     (8,615           (20,313

Share of net income from joint venture

     5,001       —               5,001  
  

 

 

   

 

 

   

 

 

       

 

 

 

Net income (loss)

   $ (6,786   $ (16,724   $ —           $ (23,510
  

 

 

   

 

 

   

 

 

       

 

 

 

Basic net income (loss) per share:

            

Net income (loss) per share

   $ (0.32           $ (1.11
  

 

 

           

 

 

 

Weighted average shares outstanding

     21,181               21,181  
  

 

 

           

 

 

 

Diluted net income (loss) per share:

            

Net income (loss) per share

   $ (0.32           $ (1.11
  

 

 

           

 

 

 

Weighted average shares outstanding

     21,181               21,181  
  

 

 

           

 

 

 

See accompanying Notes to Unaudited Pro Forma Condensed Consolidated Financial Information.