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| NNBR > SEC Filings for NNBR > Form 8-K on 5-Nov-2009 | All Recent SEC Filings |
5-Nov-2009
Results of Operations and Financial Condition, Financial Statements and Exhibits
Published as Exhibit 99.1 is NN Inc.'s press release dated November 5, 2009 regarding the results for the third quarter ended September 30, 2009. The attached press release includes the following non-GAAP measures: Net (loss) excluding restructuring and other special charges and net income excluding restructuring and other special charges.
These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. We believe that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures.
Our management uses financial information that does not include (a) after- tax restructuring charges related to restructuring efforts at the Veenendaal, The Netherlands facility, (b) after-tax charges related to the closure of our Kilkenny, Ireland and Hamilton, Ohio facilities, (c) the recording of a valuation allowance on deferred taxes, (d) after-tax gain on the sale of surplus land in The Netherlands and (e) an Italian tax adjustment.
We use these non-GAAP financial measures in making operating decisions because we believe the measures provide meaningful supplemental information regarding our core operational performance. We use these measures to help make budgeting and spending decisions. Further, these non-GAAP financial measures facilitate management's internal comparisons to our historical operating results.
The following exhibit is furnished pursuant to Item 2.02, is not considered "filed" under the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any of the previous or future filings of NN, Inc. under the Securities Act of 1933, as amended, or the Exchange Act.
Exhibit: Exhibit Number Description of Exhibit 99.1 Press Release of NN, Inc. dated November 5, 2009. |
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