$NNBR
NN INC

2017 Q1 Form 10-Q Financial Statement

#000119312517157840 Filed on May 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $157.6M $212.2M
YoY Change -25.76% 29.61%
Cost Of Revenue $114.5M $159.8M
YoY Change -28.34% 23.54%
Gross Profit $43.08M $52.47M
YoY Change -17.91% 52.41%
Gross Profit Margin 27.34% 24.72%
Selling, General & Admin $16.64M $20.80M
YoY Change -20.0% 73.34%
% of Gross Profit 38.63% 39.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.57M $17.35M
YoY Change -27.54% 104.24%
% of Gross Profit 29.18% 33.06%
Operating Expenses $16.64M $20.80M
YoY Change -20.0% 73.34%
Operating Profit $13.85M $11.78M
YoY Change 17.55% -15.43%
Interest Expense $14.84M $16.42M
YoY Change -9.64% 176.56%
% of Operating Profit 107.13% 139.36%
Other Income/Expense, Net $722.0K $1.129M
YoY Change -36.05% -180.64%
Pretax Income -$177.0K -$3.509M
YoY Change -94.96% -153.2%
Income Tax -$377.0K -$751.0K
% Of Pretax Income
Net Earnings $7.411M -$1.299M
YoY Change -670.52% -121.65%
Net Earnings / Revenue 4.7% -0.61%
Basic Earnings Per Share $0.27 -$0.05
Diluted Earnings Per Share $0.27 -$0.05
COMMON SHARES
Basic Shares Outstanding 27.30M shares 26.87M shares
Diluted Shares Outstanding 27.63M shares 26.87M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.60M $15.10M
YoY Change 29.8% -10.12%
Cash & Equivalents $19.58M $15.08M
Short-Term Investments
Other Short-Term Assets $14.63M $13.13M
YoY Change 11.46% -28.55%
Inventory $116.6M $120.1M
Prepaid Expenses
Receivables $159.6M $143.3M
Other Receivables $0.00 $4.000M
Total Short-Term Assets $310.3M $295.6M
YoY Change 4.97% 24.21%
LONG-TERM ASSETS
Property, Plant & Equipment $328.2M $325.2M
YoY Change 0.92% 22.82%
Goodwill $451.4M $450.2M
YoY Change 0.28% 442.37%
Intangibles
YoY Change
Long-Term Investments $38.00M $39.86M
YoY Change -4.67% 8.04%
Other Assets $8.541M $10.90M
YoY Change -21.65% -46.18%
Total Long-Term Assets $1.076B $1.100B
YoY Change -2.15% 141.02%
TOTAL ASSETS
Total Short-Term Assets $310.3M $295.6M
Total Long-Term Assets $1.076B $1.100B
Total Assets $1.387B $1.396B
YoY Change -0.64% 100.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $77.67M $70.29M
YoY Change 10.5% 13.74%
Accrued Expenses $23.50M $24.30M
YoY Change -3.29% 29.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.75M $11.95M
YoY Change -9.99% -48.61%
Total Short-Term Liabilities $150.2M $141.5M
YoY Change 6.15% 11.28%
LONG-TERM LIABILITIES
Long-Term Debt $799.5M $804.7M
YoY Change -0.65% 140.2%
Other Long-Term Liabilities $3.901M $6.257M
YoY Change -37.65% -39.47%
Total Long-Term Liabilities $803.4M $810.9M
YoY Change -0.93% 134.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $150.2M $141.5M
Total Long-Term Liabilities $803.4M $810.9M
Total Liabilities $1.063B $1.078B
YoY Change -1.4% 102.27%
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 $327.8M $317.3M
YoY Change
Total Liabilities & Shareholders Equity $1.387B $1.396B
YoY Change -0.64% 100.99%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $7.411M -$1.299M
YoY Change -670.52% -121.65%
Depreciation, Depletion And Amortization $12.57M $17.35M
YoY Change -27.54% 104.24%
Cash From Operating Activities $4.940M $3.430M
YoY Change 44.02% -119.69%
INVESTING ACTIVITIES
Capital Expenditures $8.565M $8.008M
YoY Change 6.96% -3.73%
Acquisitions
YoY Change
Other Investing Activities -$295.0K $20.00K
YoY Change -1575.0% -101.77%
Cash From Investing Activities -$8.270M -$7.990M
YoY Change 3.5% -15.36%
FINANCING ACTIVITIES
Cash Dividend Paid $1.910M $1.879M
YoY Change 1.65% 41.49%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.437M $1.437M
YoY Change 0.0%
Cash From Financing Activities 8.290M 5.370M
YoY Change 54.38% -17.13%
NET CHANGE
Cash From Operating Activities 4.940M 3.430M
Cash From Investing Activities -8.270M -7.990M
Cash From Financing Activities 8.290M 5.370M
Net Change In Cash 4.960M 810.0K
YoY Change 512.35% -103.97%
FREE CASH FLOW
Cash From Operating Activities $4.940M $3.430M
Capital Expenditures $8.565M $8.008M
Free Cash Flow -$3.625M -$4.578M
YoY Change -20.82% -82.21%

Facts In Submission

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11.84
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1437000
CY2017Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
901000
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
13.29
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
126000 shares
CY2017Q1 nnbr Cumulative Effect Of Initial Adoption Of New Accounting Principles
CumulativeEffectOfInitialAdoptionOfNewAccountingPrinciples
740000
CY2017Q1 nnbr Cash Settlement Of Interest Rate Hedges
CashSettlementOfInterestRateHedges
1500000
CY2017Q1 nnbr Reduction In Income Tax Expense
ReductionInIncomeTaxExpense
500000
CY2017Q1 nnbr Number Of Manufacturing Plants
NumberOfManufacturingPlants
40 ManufacturingPlants
CY2017Q1 nnbr Adjustments Related To Tax Withholding And Forfeited For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingAndForfeitedForShareBasedCompensation
-327000
CY2017Q1 nnbr Restructuring And Integration Charges
RestructuringAndIntegrationCharges
140000
CY2016Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
911000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8000
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-822000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1001000
CY2016Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.07
CY2016Q1 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
159754000
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17348000
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4418000
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2016Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1129000
CY2016Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
5341000
CY2016Q1 us-gaap Interest Expense
InterestExpense
16422000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-7991000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20318000
CY2016Q1 us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
-1002000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1191000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5717000
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
283000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
11874000
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1879000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
5284000
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
6719000
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
89000
CY2016Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1029000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3419000
CY2016Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1400000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-720000
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3521000
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8008000
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
17000
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
212226000
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26869000 shares
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20712000
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
2500000
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26869000 shares
CY2016Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
11000000
CY2016Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-969000
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-1299000
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1437000
CY2016Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1342000
CY2016Q1 nnbr Restructuring And Integration Charges
RestructuringAndIntegrationCharges
2538000

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