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EX-99.2 - EXHIBIT 99.2 - Cornerstone Building Brands, Inc.q32016exhibit992.htm
EX-99.1 - EXHIBIT 99.1 - Cornerstone Building Brands, Inc.q32016exhibit991.htm
 
 

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
 
FORM 8-K
________________
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): August 30, 2016
________________
 
ncslogo.jpg

NCI BUILDING SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
________________
 
Delaware
1-14315
76-0127701
(State or other jurisdiction of
incorporation)
(Commission File Number)
(I.R.S. Employer
Identification Number)
 
10943 North Sam Houston Parkway West
Houston, Texas
77064
(Address of principal executive offices)
(Zip Code)
 
Registrant’s telephone number, including area code: (281) 897-7788
________________
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
 
£
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 




 
Item 2.02. Results of Operations and Financial Condition.
 
On August 30, 2016, NCI Building Systems, Inc. (“NCI”) issued a press release (the “Press Release”) announcing NCI’s financial results for the fiscal third quarter ended July 31, 2016. A copy of the Press Release is attached as Exhibit 99.1.

Additionally, attached hereto as Exhibit 99.2 is a supplemental operational and financial presentation with the results for the fiscal third quarter ended July 31, 2016 and forward-looking statements relating to the fiscal fourth quarter ending October 30, 2016 (the “Supplemental Presentation”). The Supplemental Presentation will be posted on the company’s website, www.ncibuildingsystems.com, on August 30, 2016.

 NCI’s Press Release and Supplemental Presentation include Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Operating Income (Loss), Adjusted Net Income (Loss) Applicable to Common Shares, Adjusted Net Income (Loss) 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 on sale of assets and asset recovery, fair value adjustment of acquired inventory, and share-based compensation. Adjusted Operating Income (Loss) excludes restructuring and impairment charges, strategic development and acquisition related costs, gain on sale of assets and asset recovery, fair value adjustment of acquired inventory and short lived acquisition method fair value adjustments. Adjusted Net Income (Loss) Applicable to Common Shares and Adjusted Net Income (Loss) 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, fair value adjustment of acquired inventory, short lived acquisition method fair value adjustments and the tax effect of the applicable non-GAAP adjustments. Adjusted EBITDA is calculated based on the terms contained in NCI’s term loan credit agreement. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by sales. Backlog represents the estimated amounts under contractual agreements for products expected to be delivered to our customers under the contractual terms.

Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Operating Income (Loss), Adjusted Net Income (Loss) Applicable to Common Shares, Adjusted Net Income (Loss) 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 EBITDA margin, Adjusted Operating Income (Loss), Adjusted Net Income (Loss) Applicable to Common Shares, Adjusted Net Income (Loss) Per Diluted Common Share and Backlog should not be considered in isolation or as substitutes for net income (loss), operating income (loss), net income (loss) applicable to common shares, net income (loss) 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.

The information in this Item 2.02, and in Exhibit 99.1 and 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.
 



Item 9.01. Financial Statements and Exhibits.
 
 
(d)
Exhibits.
 
Exhibit
Number
 
Description
99.1
 
Press Release dated August 30, 2016
99.2
 
Supplemental Presentation dated August 30, 2016
 
  



SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
NCI BUILDING SYSTEMS, INC.
 
 
 
 
 
By:
/s/ Mark E. Johnson
 
 
Name:
Mark E. Johnson
 
 
Title:
Executive Vice President, Chief Financial Officer and Treasurer
 
Date: August 30, 2016
 




 
EXHIBIT INDEX
 
Exhibit
Number
 
Description
99.1
 
Press Release dated August 30, 2016
99.2
 
Supplemental Presentation dated August 30, 2016