$NNBR
NN INC

2013 Q2 Form 10-Q Financial Statement

#000119312513325893 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $96.31M $98.82M
YoY Change -2.55% -14.73%
Cost Of Revenue $75.75M $77.85M
YoY Change -2.69% -17.8%
Gross Profit $20.55M $20.98M
YoY Change -2.01% -1.52%
Gross Profit Margin 21.34% 21.23%
Selling, General & Admin $8.339M $8.312M
YoY Change 0.32% 7.95%
% of Gross Profit 40.57% 39.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.294M $4.389M
YoY Change -2.16% 2.31%
% of Gross Profit 20.89% 20.92%
Operating Expenses $8.339M $8.312M
YoY Change 0.32% -30.73%
Operating Profit $7.920M $8.275M
YoY Change -4.29% -11.02%
Interest Expense $709.0K $1.116M
YoY Change -36.47% -174.4%
% of Operating Profit 8.95% 13.49%
Other Income/Expense, Net $214.0K $1.239M
YoY Change -82.73% 1139.0%
Pretax Income $7.425M $3.800M
YoY Change 95.39% -51.9%
Income Tax $2.655M $1.360M
% Of Pretax Income 35.76% 35.79%
Net Earnings $4.770M $7.038M
YoY Change -32.23% 21.34%
Net Earnings / Revenue 4.95% 7.12%
Basic Earnings Per Share $0.28 $0.41
Diluted Earnings Per Share $0.28 $0.41
COMMON SHARES
Basic Shares Outstanding 17.14M shares 17.03M shares
Diluted Shares Outstanding 17.17M shares 17.14M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.200M $12.00M
YoY Change -56.67% 21.21%
Cash & Equivalents $5.232M $12.00M
Short-Term Investments
Other Short-Term Assets $8.603M $5.500M
YoY Change 56.42% 0.0%
Inventory $46.58M $45.40M
Prepaid Expenses
Receivables $67.52M $71.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $127.9M $134.2M
YoY Change -4.67% -3.87%
LONG-TERM ASSETS
Property, Plant & Equipment $115.5M $118.7M
YoY Change -2.72% -3.96%
Goodwill $8.158M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.748M $3.300M
YoY Change 13.58% -37.74%
Total Long-Term Assets $133.5M $130.6M
YoY Change 2.25% -6.14%
TOTAL ASSETS
Total Short-Term Assets $127.9M $134.2M
Total Long-Term Assets $133.5M $130.6M
Total Assets $261.4M $264.8M
YoY Change -1.25% -5.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.02M $40.10M
YoY Change -0.19% -27.75%
Accrued Expenses $10.90M $10.80M
YoY Change 0.93% -15.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.714M $6.700M
YoY Change -14.72% 0.0%
Total Short-Term Liabilities $64.55M $65.10M
YoY Change -0.84% -21.94%
LONG-TERM LIABILITIES
Long-Term Debt $46.00M $74.90M
YoY Change -38.58% -8.66%
Other Long-Term Liabilities $11.06M $10.70M
YoY Change 3.33% 22.99%
Total Long-Term Liabilities $57.06M $85.60M
YoY Change -33.35% -5.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.55M $65.10M
Total Long-Term Liabilities $57.06M $85.60M
Total Liabilities $125.4M $154.4M
YoY Change -18.77% -13.45%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $136.0M $110.4M
YoY Change
Total Liabilities & Shareholders Equity $261.4M $264.8M
YoY Change -1.27% -4.99%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $4.770M $7.038M
YoY Change -32.23% 21.34%
Depreciation, Depletion And Amortization $4.294M $4.389M
YoY Change -2.16% 2.31%
Cash From Operating Activities $11.34M $12.78M
YoY Change -11.27% -18.55%
INVESTING ACTIVITIES
Capital Expenditures -$1.770M -$5.010M
YoY Change -64.67% -21.47%
Acquisitions
YoY Change
Other Investing Activities $20.00K $10.00K
YoY Change 100.0% -90.91%
Cash From Investing Activities -$1.760M -$5.000M
YoY Change -64.8% -20.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.79M -5.810M
YoY Change 102.93% 19.3%
NET CHANGE
Cash From Operating Activities 11.34M 12.78M
Cash From Investing Activities -1.760M -5.000M
Cash From Financing Activities -11.79M -5.810M
Net Change In Cash -2.210M 1.970M
YoY Change -212.18% -56.61%
FREE CASH FLOW
Cash From Operating Activities $11.34M $12.78M
Capital Expenditures -$1.770M -$5.010M
Free Cash Flow $13.11M $17.79M
YoY Change -26.31% -19.39%

Facts In Submission

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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
368000
us-gaap Share Based Compensation
ShareBasedCompensation
884000
us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
160817000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
148000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
7466000
us-gaap Interest Expense
InterestExpense
2327000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6777000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8846000
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
1945000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
410000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3286000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16379000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2835000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-773000
nnbr Effect On Income Tax Expense From Reversal Of Deferred Tax Asset Valuation Allowance
EffectOnIncomeTaxExpenseFromReversalOfDeferredTaxAssetValuationAllowance
0
nnbr Non Cash Change In Value Of Long Term Note Receivable
NonCashChangeInValueOfLongTermNoteReceivable
173000
nnbr Non Us Based Earnings Taxed At Lower Rates
NonUsBasedEarningsTaxedAtLowerRates
657000
nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Minimum Price Range
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMinimumPriceRange
8.86
nnbr Weighted Average Number Of Diluted Shares Outstanding Total
WeightedAverageNumberOfDilutedSharesOutstandingTotal
112000 shares
nnbr Income Tax Reconciliation Operating Losses Carry Forward
IncomeTaxReconciliationOperatingLossesCarryForward
2200000
nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Maximum Price Range One
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMaximumPriceRangeOne
14.13
CY2012Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1945000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17139000 shares
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17026000 shares
CY2012Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.00
CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1296000 shares
CY2012Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
98824000
CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1239000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
3800000
CY2012Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
486000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
8275000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
8398000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
7038000
CY2012Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-6552000
CY2012Q2 us-gaap Share Based Compensation
ShareBasedCompensation
525000
CY2012Q2 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
77848000
CY2012Q2 us-gaap Interest Expense
InterestExpense
1116000
CY2012Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4389000
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8312000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1360000
CY2012Q2 nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Minimum Price Range
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMinimumPriceRange
8.86
CY2012Q2 nnbr Weighted Average Number Of Diluted Shares Outstanding Total
WeightedAverageNumberOfDilutedSharesOutstandingTotal
113000 shares
CY2012Q2 nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Maximum Price Range One
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMaximumPriceRangeOne
14.13
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17172000 shares
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17136000 shares
CY2013Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.06
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1554000 shares
CY2013Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1000
CY2013Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
96305000
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
214000
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6156000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
7920000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7425000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
4770000
CY2013Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
1386000
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
664000
CY2013Q2 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
75751000
CY2013Q2 us-gaap Interest Expense
InterestExpense
709000
CY2013Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4294000
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8339000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2655000
CY2013Q2 nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Minimum Price Range
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMinimumPriceRange
8.86
CY2013Q2 nnbr Weighted Average Number Of Diluted Shares Outstanding Total
WeightedAverageNumberOfDilutedSharesOutstandingTotal
36000 shares
CY2013Q2 nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Maximum Price Range One
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMaximumPriceRangeOne
14.13

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