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SEC Filings

8-K
NN INC filed this Form 8-K on 11/03/2017
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other risks associated with international trade, the Company’s 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 and completed transactions are also forward-looking statements, including statements relating to the future performance and prospects of an acquired business, the expected benefits of an acquisition on the Company’s future business and operations and the ability of the Company to successfully integrate recently acquired businesses or the possibility that the Company will be unable to execute on the intended redeployment of proceeds from a divestiture, whether due to a lack of favorable investment opportunities or otherwise.

For additional information concerning such risk factors and cautionary statements, please see the section titled “Risk Factors” in the Company’s periodic reports filed with the Securities and Exchange Commission, including, but not limited to, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Except as required by law, we undertake no obligation to update or revise any forward-looking statements we make in our press releases, whether as a result of new information, future events or otherwise.

Financial Tables Follow

NN, Inc.

Condensed Consolidated Statements Operations

(Unaudited)

 

     Three Months Ended  
     September 30,  
     2017     2016  

Net sales

   $ 148,156     $ 146,714  

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

     110,836       107,185  

Selling, general and administrative expense

     16,985       14,201  

Acquisition related costs excluded from selling, general and administrative expense

     619       —    

Depreciation and amortization

     13,075       11,737  

Restructuring and integration expense

     345       606  
  

 

 

   

 

 

 

Income from operations

     6,296       12,985  

Interest expense

     12,739       15,801  

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

     —         2,589  

Derivative payments on interest rate swap

     —         609  

Derivative loss (gain) on change in interest rate swap fair value

     (27     3,130  

Other (income) expense, net

     (848     (263
  

 

 

   

 

 

 

Loss from continuing operations before benefit for income taxes and share of net income from joint venture

     (5,568     (8,881

Benefit for income taxes

     (1,011     (7,733

Share of net income from joint venture

     1,202       1,427  
  

 

 

   

 

 

 

Income (loss) from continuing operations

     (3,355     279