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 second fiscal quarter
ended April 30, 2017. A copy of the Press Release is attached as
Exhibit 99.1.
operational and financial presentation with the results for the
second fiscal quarter ended April 30, 2017 and forward-looking
statements relating to the third fiscal quarter ending July 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
June 6, 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, share-based compensation, gain on insurance
recovery, and unreimbursed business interruption costs. Adjusted
Operating Income (Loss) excludes restructuring and impairment
charges, strategic development and acquisition related costs and
gain (loss) on sale of assets and asset recovery, gain on
insurance recovery and unreimbursed business interruption costs.
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 insurance recovery, unreimbursed business
interruption costs, other gains (losses), net, 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.
(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 June 6, 2017
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99.2
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Supplemental Presentation dated June 6, 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.