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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, 2016

 

(in thousands, except per share data)

   Consolidated
Historical
NN, Inc.

As Revised
    PBC
Business
    Pro Forma
Adjustments
    Notes     Pro Forma  

Net sales

   $ 833,488     $ (248,534       $ 584,954  

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

     621,022       (193,022         428,000  

Selling, general and administrative expense

     80,231       (16,485         63,746  

Acquisition related costs excluded from selling, general and administrative

     —         —             —    

Depreciation and amortization

     62,488       (11,676         50,812  

(Gain) loss on disposal of assets

     288       —             288  

Restructuring and integration expense

     10,024       (4,366         5,658  
  

 

 

   

 

 

   

 

 

     

 

 

 

Income from operations

     59,435       (22,985     —           36,450  

Interest expense

     63,154       (284     (30,999     (e)       31,871  

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

     2,589       —         62,498       (g)       65,087  

Derivative payments on interest rate swap

     609       —             609  

Derivative loss on change in interest rate swap fair value

     2,448       —             2,448  

Other (income) expense, net

     (2,591     476           (2,115
  

 

 

   

 

 

   

 

 

     

 

 

 

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

     (6,774     (23,177     (31,499       (61,450

Provision (benefit) for income taxes

     (8,133     (7,880     (10,709     (f)       (26,722

Share of net income from joint venture

     5,938       —             5,938  
  

 

 

   

 

 

   

 

 

     

 

 

 

Net income (loss)

   $ 7,297     $ (15,297   $ (20,790     $ (28,790
  

 

 

   

 

 

   

 

 

     

 

 

 

Basic net income (loss) per share:

          

Net income (loss) per share

   $ 0.27           $ (1.07
  

 

 

         

 

 

 

Weighted average shares outstanding

     27,016             27,016  
  

 

 

         

 

 

 

Diluted net income (loss) per share:

          

Net income (loss) per share

   $ 0.27           $ (1.07
  

 

 

         

 

 

 

Weighted average shares outstanding

     27,154         (138     (h)       27,016  
  

 

 

         

 

 

 

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