$NNBR
NN INC

2013 Q3 Form 10-Q Financial Statement

#000119312513434773 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q4 2012 Q3
Revenue $93.02M $80.16M $86.59M
YoY Change 7.43% -16.77% -14.36%
Cost Of Revenue $73.02M $65.60M $68.43M
YoY Change 6.71% -17.07% -18.15%
Gross Profit $20.00M $14.50M $18.16M
YoY Change 10.15% -15.7% 3.18%
Gross Profit Margin 21.5% 18.09% 20.97%
Selling, General & Admin $8.099M $7.300M $7.886M
YoY Change 2.7% -2.67% 5.15%
% of Gross Profit 40.49% 50.34% 43.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.110M $4.440M $4.357M
YoY Change -5.67% 0.91% 1.56%
% of Gross Profit 20.55% 30.62% 23.99%
Operating Expenses $8.099M $11.70M $7.886M
YoY Change 2.7% -1.68% -32.6%
Operating Profit $7.794M $1.846M $5.917M
YoY Change 31.72% -65.17% 0.29%
Interest Expense $655.0K -$1.300M $1.061M
YoY Change -38.27% 18.18% 430.5%
% of Operating Profit 8.4% -70.42% 17.93%
Other Income/Expense, Net $281.0K $0.00 -$765.0K
YoY Change -136.73% -100.0% -865.0%
Pretax Income $7.420M $500.0K $1.200M
YoY Change 518.33% -90.38% -80.33%
Income Tax $2.368M -$7.700M $976.0K
% Of Pretax Income 31.91% -1540.0% 81.33%
Net Earnings $5.052M $8.206M $3.115M
YoY Change 62.18% 67.47% -33.72%
Net Earnings / Revenue 5.43% 10.24% 3.6%
Basic Earnings Per Share $0.29 $0.48 $0.18
Diluted Earnings Per Share $0.29 $0.48 $0.18
COMMON SHARES
Basic Shares Outstanding 17.30M shares 17.04M shares 17.04M shares
Diluted Shares Outstanding 17.45M shares 17.15M shares 17.15M shares

Balance Sheet

Concept 2013 Q3 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.500M $19.00M $14.20M
YoY Change -68.31% 322.22% 17.36%
Cash & Equivalents $4.468M $18.99M $14.21M
Short-Term Investments
Other Short-Term Assets $8.411M $6.312M $5.800M
YoY Change 45.02% -7.18% 1.75%
Inventory $48.11M $46.15M $46.20M
Prepaid Expenses
Receivables $65.78M $51.63M $63.60M
Other Receivables $0.00 $2.100M $0.00
Total Short-Term Assets $126.8M $127.3M $129.8M
YoY Change -2.33% 2.66% -3.57%
LONG-TERM ASSETS
Property, Plant & Equipment $117.5M $119.7M $119.1M
YoY Change -1.35% -0.7% -0.58%
Goodwill $8.437M $8.254M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.755M $3.141M $3.100M
YoY Change 21.13% -47.65% -40.38%
Total Long-Term Assets $134.7M $138.0M $131.3M
YoY Change 2.59% 1.91% -2.33%
TOTAL ASSETS
Total Short-Term Assets $126.8M $127.3M $129.8M
Total Long-Term Assets $134.7M $138.0M $131.3M
Total Assets $261.4M $265.3M $261.1M
YoY Change 0.14% 2.27% -2.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.17M $37.00M $35.70M
YoY Change 20.93% -23.24% -22.39%
Accrued Expenses $11.70M $10.20M $11.40M
YoY Change 2.63% -12.82% -9.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.714M $5.801M $6.300M
YoY Change -9.3% -10.75% -31.52%
Total Short-Term Liabilities $69.23M $58.76M $60.30M
YoY Change 14.82% -19.51% -19.92%
LONG-TERM LIABILITIES
Long-Term Debt $33.00M $63.72M $68.70M
YoY Change -51.97% -11.01% -24.59%
Other Long-Term Liabilities $10.37M $10.46M $10.90M
YoY Change -4.88% -7.43%
Total Long-Term Liabilities $43.37M $74.18M $79.60M
YoY Change -45.52% -10.52% -12.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.23M $58.76M $60.30M
Total Long-Term Liabilities $43.37M $74.18M $79.60M
Total Liabilities $116.6M $136.8M $143.7M
YoY Change -18.87% -14.4% -15.67%
SHAREHOLDERS EQUITY
Retained Earnings $51.88M
YoY Change
Common Stock $57.05M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $144.9M $128.6M $117.4M
YoY Change
Total Liabilities & Shareholders Equity $261.4M $265.3M $261.1M
YoY Change 0.13% 2.25% -2.94%

Cashflow Statement

Concept 2013 Q3 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $5.052M $8.206M $3.115M
YoY Change 62.18% 67.47% -33.72%
Depreciation, Depletion And Amortization $4.110M $4.440M $4.357M
YoY Change -5.67% 0.91% 1.56%
Cash From Operating Activities $16.82M $14.70M $11.03M
YoY Change 52.49% 25.64% 108.9%
INVESTING ACTIVITIES
Capital Expenditures -$4.140M -$4.690M -$3.310M
YoY Change 25.08% -14.73% -28.97%
Acquisitions
YoY Change
Other Investing Activities -$20.00K $10.00K -$10.00K
YoY Change 100.0% -93.33%
Cash From Investing Activities -$4.140M -$4.680M -$3.320M
YoY Change 24.7% -12.52% -28.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.35M -6.410M -6.540M
YoY Change 104.13% -47.93% -282.17%
NET CHANGE
Cash From Operating Activities 16.82M 14.70M 11.03M
Cash From Investing Activities -4.140M -4.680M -3.320M
Cash From Financing Activities -13.35M -6.410M -6.540M
Net Change In Cash -670.0K 3.610M 1.170M
YoY Change -157.26% -160.57% -72.27%
FREE CASH FLOW
Cash From Operating Activities $16.82M $14.70M $11.03M
Capital Expenditures -$4.140M -$4.690M -$3.310M
Free Cash Flow $20.96M $19.39M $14.34M
YoY Change 46.16% 12.73% 44.27%

Facts In Submission

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16278000
us-gaap Operating Income Loss
OperatingIncomeLoss
23225000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
19873000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3097000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1100000
us-gaap Net Income Loss
NetIncomeLoss
16062000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
87000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
161000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
216000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12402000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
21000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3157000
us-gaap Share Based Compensation
ShareBasedCompensation
1394000
us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
229243000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-177000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
9676000
us-gaap Interest Expense
InterestExpense
3388000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-12479000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
356000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10101000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13203000
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
1945000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
627000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
6298000
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
777000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24266000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3811000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
272000
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 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
106000 shares
nnbr Income Tax Reconciliation Operating Losses Carry Forward
IncomeTaxReconciliationOperatingLossesCarryForward
2692000
nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Maximum Price Range One
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMaximumPriceRangeOne
14.13
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17150000 shares
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2013Q3 nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Maximum Price Range One
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMaximumPriceRangeOne
14.13
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17044000 shares
CY2012Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.00
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1290000 shares
CY2012Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
CY2012Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
86586000
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-765000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1200000
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6489000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5917000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4091000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
3115000
CY2012Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
3374000
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
510000
CY2012Q3 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
68426000
CY2012Q3 us-gaap Interest Expense
InterestExpense
1061000
CY2012Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4357000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7886000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
976000
CY2012Q3 nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Minimum Price Range
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMinimumPriceRange
8.86
CY2012Q3 nnbr Weighted Average Number Of Diluted Shares Outstanding Total
WeightedAverageNumberOfDilutedSharesOutstandingTotal
106000 shares
CY2012Q3 nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Maximum Price Range One
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMaximumPriceRangeOne
14.13
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17450000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17302000 shares
CY2013Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.06
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1297000 shares
CY2013Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
CY2013Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
93023000
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
281000
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
7530000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7794000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7420000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
5052000
CY2013Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
2478000
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
573000
CY2013Q3 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
73020000
CY2013Q3 us-gaap Interest Expense
InterestExpense
655000
CY2013Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4110000
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8099000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2368000
CY2013Q3 nnbr Anti Dilutive Securities Excluded From Computation Of Earnings Per Share Minimum Price Range
AntiDilutiveSecuritiesExcludedFromComputationOfEarningsPerShareMinimumPriceRange
8.54
CY2013Q3 nnbr Weighted Average Number Of Diluted Shares Outstanding Total
WeightedAverageNumberOfDilutedSharesOutstandingTotal
148000 shares

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