NCI BUILDING SYSTEMS, INC. (NYSE:NCS) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition.
announcing NCIs financial results for the first fiscal quarter
ended January 29, 2017. A copy of the Press Release is attached
as Exhibit 99.1.
operational and financial presentation with the results for the
first fiscal quarter ended January 29, 2017 and forward-looking
statements relating to the second fiscal quarter ending April 30,
2017 and the fiscal year ending October 29, 2017 (the
Supplemental Presentation). The Supplemental Presentation will be
posted on the companys website, www.ncibuildingsystems.com, on
March 7, 2017.
EBITDA, Adjusted Operating Income (Loss), Adjusted Net Income
Applicable to Common Shares, Adjusted Net Income Per Diluted
Common Share and Backlog, which are non-GAAP financial measures.
Adjusted EBITDA excludes restructuring and impairment charges,
strategic development and acquisition related costs, gain on
legal settlements, gain from bargain purchase, gain (loss) on
sale of assets and asset recovery, fair value adjustments of
acquired inventory and share-based compensation. Adjusted
Operating Income (Loss) excludes restructuring and impairment
charges, strategic development and acquisition related costs and
gain on sale of assets and asset recovery. Adjusted Net Income
Applicable to Common Shares and Adjusted Net Income Per Diluted
Common Share exclude restructuring and impairment charges,
strategic development and acquisition related costs, gain on sale
of assets and asset recovery, gain from bargain purchase and the
tax effect of the applicable non-GAAP adjustments. Adjusted
EBITDA is calculated based on the terms contained in NCIs term
loan credit agreement. Backlog represents the estimated amounts
under contractual agreements for products expected to be
delivered to our customers under the contractual terms.
Income Applicable to Common Shares, Adjusted Net Income Per
Diluted Common Share and Backlog are measures used by management
and, therefore, provided to investors to provide comparability
between periods of underlying operational results. Adjusted
EBITDA, Adjusted Operating Income (Loss), Adjusted Net Income
Applicable to Common Shares, Adjusted Net Income Per Diluted
Common Share and Backlog should not be considered in isolation or
as substitutes for net income, operating income (loss), net
income applicable to common shares, net income per diluted common
share or revenue determined in accordance with generally accepted
accounting principles in the United States. The non-GAAP
financial measures and reconciliations thereof to the most
directly comparable measures prepared in accordance with
generally accepted accounting principles are included in the
Press Release furnished as Exhibit 99.1 hereto and the
Supplemental Presentation attached hereto as Exhibit 99.2.
Exhibit 99.2 which are attached to this Form 8-K shall not be
deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the Exchange Act) or otherwise
subject to the liabilities of that Section, nor shall they be
deemed incorporated by reference in any registration statement or
other filing under the Securities Act of 1933, as amended, or the
Exchange Act, except in the event that NCI expressly states that
such information is to be considered filed under the Exchange Act
or incorporates it by specific reference in such filing.
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(d)
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Exhibits.
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Exhibit
Number
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Description
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99.1
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Press Release dated March 7, 2017
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99.2
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Supplemental Presentation dated March 7, 2017
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About NCI BUILDING SYSTEMS, INC. (NYSE:NCS)
NCI Building Systems, Inc. is a manufacturer and marketer of metal products for the non-residential construction industry. The Company operates through three segments: engineered building systems, metal components and metal coil coating. The metal coil coating segment consists of cleaning, treating, painting and slitting continuous steel coils before the steel is fabricated for use by construction and industrial users. The metal components segment products include metal roof and wall panels, doors, metal partitions, metal trim, insulated panels and other related accessories. The engineered building systems segment includes the manufacturing of main frames, Long Bay Systems, and engineering and drafting. It sells engineered building systems brand names: Metallic, Mid-West Steel, A & S, All American, Mesco, Star, Ceco, Robertson, Garco, Heritage and SteelBuilding.com. The Company operates approximately 40 manufacturing facilities in the United States, Mexico and China. NCI BUILDING SYSTEMS, INC. (NYSE:NCS) Recent Trading Information
NCI BUILDING SYSTEMS, INC. (NYSE:NCS) closed its last trading session down -0.12 at 16.05 with 420,562 shares trading hands.