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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, 2014

 

(in thousands, except per share data)

   Consolidated
Historical
NN, Inc.
     PBC
Business
    Pro Forma
Adjustments
    Notes      Pro Forma  

Net sales

   $ 488,601      $ (278,026   $ —          $ 210,575  

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

     384,889        (215,875          169,014  

Selling, general and administrative expense

     43,756        (18,005          25,751  

Acquisition related costs excluded from selling, general and administrative

     9,248        —              9,248  

Depreciation and amortization

     22,146        (12,000          10,146  

(Gain) loss on disposal of assets

     —          —              —    

Restructuring and integration expense

     875        (274          601  
  

 

 

    

 

 

   

 

 

      

 

 

 

Income from operations

     27,687        (31,872     —            (4,185

Interest expense

     10,895        (334          10,561  

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

     1,398        —              1,398  

Derivative payments on interest rate swap

     —          —              —    

Derivative loss on change in interest rate swap fair value

     —          —              —    

Other (income) expense, net

     2,222        (560          1,662  
  

 

 

    

 

 

   

 

 

      

 

 

 

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

     13,172        (30,978     —            (17,806

Provision (benefit) for income taxes

     5,786        (10,533          (4,747

Share of net income from joint venture

     831        —              831  
  

 

 

    

 

 

   

 

 

      

 

 

 

Net income (loss)

   $ 8,217      $ (20,445   $ —          $ (12,228
  

 

 

    

 

 

   

 

 

      

 

 

 

Basic net income (loss) per share:

            

Net income (loss) per share

   $ 0.46             $ (0.68
  

 

 

           

 

 

 

Weighted average shares outstanding

     17,887               17,887  
  

 

 

           

 

 

 

Diluted net income (loss) per share:

            

Net income (loss) per share

   $ 0.45             $ (0.68
  

 

 

           

 

 

 

Weighted average shares outstanding

     18,253          (366     (h)        17,887  
  

 

 

           

 

 

 

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