$NNBR
NN INC

2015 Q3 Form 10-Q Financial Statement

#000119312515367477 Filed on November 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $154.8M $125.6M
YoY Change 23.24% 35.05%
Cost Of Revenue $120.2M $100.4M
YoY Change 19.67% 37.55%
Gross Profit $34.63M $25.19M
YoY Change 37.47% 25.94%
Gross Profit Margin 22.37% 20.05%
Selling, General & Admin $11.95M $11.12M
YoY Change 7.42% 37.35%
% of Gross Profit 34.51% 44.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.610M $5.864M
YoY Change 46.83% 42.68%
% of Gross Profit 24.86% 23.28%
Operating Expenses $11.95M $11.12M
YoY Change 7.42% 37.35%
Operating Profit $10.12M $2.552M
YoY Change 296.63% -67.26%
Interest Expense $4.584M $5.622M
YoY Change -18.46% 758.32%
% of Operating Profit 45.29% 220.3%
Other Income/Expense, Net -$593.0K -$1.557M
YoY Change -61.91% -654.09%
Pretax Income $4.945M -$4.627M
YoY Change -206.87% -162.36%
Income Tax $936.0K -$562.0K
% Of Pretax Income 18.93%
Net Earnings $4.630M -$3.840M
YoY Change -220.57% -176.01%
Net Earnings / Revenue 2.99% -3.06%
Basic Earnings Per Share $0.17 -$0.21
Diluted Earnings Per Share $0.17 -$0.21
COMMON SHARES
Basic Shares Outstanding 26.84M shares 17.98M shares
Diluted Shares Outstanding 27.17M shares 17.98M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.10M $26.90M
YoY Change 49.07% 497.78%
Cash & Equivalents $40.10M $26.89M
Short-Term Investments
Other Short-Term Assets $17.56M $20.05M
YoY Change -12.43% 138.41%
Inventory $92.58M $86.92M
Prepaid Expenses
Receivables $108.1M $112.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $258.4M $246.7M
YoY Change 4.73% 94.62%
LONG-TERM ASSETS
Property, Plant & Equipment $266.6M $274.6M
YoY Change -2.93% 133.73%
Goodwill $85.45M $87.69M
YoY Change -2.55% 939.31%
Intangibles
YoY Change
Long-Term Investments $37.09M $33.35M
YoY Change 11.22%
Other Assets $20.17M $13.01M
YoY Change 55.02% 246.42%
Total Long-Term Assets $461.1M $466.4M
YoY Change -1.14% 246.37%
TOTAL ASSETS
Total Short-Term Assets $258.4M $246.7M
Total Long-Term Assets $461.1M $466.4M
Total Assets $719.5M $713.1M
YoY Change 0.89% 172.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.34M $62.77M
YoY Change -3.87% 45.39%
Accrued Expenses $18.40M $20.80M
YoY Change -11.54% 77.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $21.68M $24.05M
YoY Change -9.86% 320.86%
Total Short-Term Liabilities $121.1M $127.0M
YoY Change -4.65% 83.47%
LONG-TERM LIABILITIES
Long-Term Debt $184.4M $331.2M
YoY Change -44.34% 903.64%
Other Long-Term Liabilities $12.58M $9.000M
YoY Change 39.82% -13.19%
Total Long-Term Liabilities $196.9M $340.2M
YoY Change -42.11% 684.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $121.1M $127.0M
Total Long-Term Liabilities $196.9M $340.2M
Total Liabilities $375.8M $532.9M
YoY Change -29.48% 357.11%
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 $343.7M $180.3M
YoY Change
Total Liabilities & Shareholders Equity $719.5M $713.1M
YoY Change 0.89% 172.78%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $4.630M -$3.840M
YoY Change -220.57% -176.01%
Depreciation, Depletion And Amortization $8.610M $5.864M
YoY Change 46.83% 42.68%
Cash From Operating Activities $8.980M -$4.220M
YoY Change -312.8% -125.09%
INVESTING ACTIVITIES
Capital Expenditures -$10.15M -$8.980M
YoY Change 13.03% 116.91%
Acquisitions
YoY Change
Other Investing Activities $2.200M -$240.8M
YoY Change -100.91% 1203650.0%
Cash From Investing Activities -$7.960M -$249.7M
YoY Change -96.81% 5932.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $148.7M
YoY Change
Cash From Financing Activities 17.36M 274.8M
YoY Change -93.68% -2158.28%
NET CHANGE
Cash From Operating Activities 8.980M -4.220M
Cash From Investing Activities -7.960M -249.7M
Cash From Financing Activities 17.36M 274.8M
Net Change In Cash 18.38M 20.83M
YoY Change -11.76% -3208.96%
FREE CASH FLOW
Cash From Operating Activities $8.980M -$4.220M
Capital Expenditures -$10.15M -$8.980M
Free Cash Flow $19.13M $4.760M
YoY Change 301.89% -77.29%

Facts In Submission

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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Repayments Of Long Term Debt
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us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
-3044000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
483425000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3022000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
136000
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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1747000
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-3475000
us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4009000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2785000
us-gaap Interest Expense
InterestExpense
16543000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-34025000
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-593000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
23732000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
173052000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
441000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
222000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3948000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
8517000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2919000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1831000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1827000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-177000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37910000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3013000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4554000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-8380000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-1458000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25702000
us-gaap Restricted Stock Expense
RestrictedStockExpense
1747000
us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
378220000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
2099000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
nnbr Payment For Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
PaymentForProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
-869000
nnbr Adjustments To Additional Paid In Capital Share Based Compensation Performance Stock Unit Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPerformanceStockUnitRequisiteServicePeriodRecognition
456000
CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.06 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.12 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
CY2014 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
0
CY2014 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-431000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2015Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
7590000 shares
CY2015Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.07
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27167000 shares
CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
328000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26839000 shares
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
4630000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
10122000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-593000
CY2015Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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-5332000
CY2015Q3 us-gaap Repayments Of Long Term Debt
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148739000
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-1419000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2121000
CY2015Q3 us-gaap Sales Revenue Goods Net
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154824000
CY2015Q3 us-gaap Income Loss From Equity Method Investments
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621000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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4945000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
936000
CY2015Q3 us-gaap Interest Expense
InterestExpense
4584000
CY2015Q3 us-gaap Business Combination Acquisition Related Costs
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3948000
CY2015Q3 us-gaap Selling General And Administrative Expense
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11949000
CY2015Q3 us-gaap Depreciation Depletion And Amortization
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8610000
CY2015Q3 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
120195000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2014Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2014Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17979000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17979000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-3840000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2552000
CY2014Q3 us-gaap Other Nonoperating Income Expense
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-1557000
CY2014Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-9068000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12908000
CY2014Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
125632000
CY2014Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
225000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4627000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-562000
CY2014Q3 us-gaap Interest Expense
InterestExpense
5622000
CY2014Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
5651000
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11124000
CY2014Q3 us-gaap Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Cost Expensed
BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
8509000
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5864000
CY2014Q3 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
100441000

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