10-Q Filing

THERMON GROUP HOLDINGS, INC. CIK: 1489096 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001489096-14-000052`
Period End Date	20140630
Filing Date	20140807
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	thr-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 42 Cash Flow Statement 64

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$77.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.64M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $858 and $1,434 as of December 31, 2012 and March 31, 2012, respectively	`AccountsReceivableNetCurrent`	$52.58M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $858 and $1,434 as of December 31, 2012 and March 31, 2012, respectively	`AccountsReceivableNetCurrent`	$61.09M	USD	Point-in-time
Inventories, net	`InventoryNet`	$37.32M	USD	Point-in-time
Inventories, net	`InventoryNet`	$37.55M	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$2.39M	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$2.88M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.31M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.31M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.06M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.33M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.92M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.57M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.33M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$176.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$190.50M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	31.92M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$31.47M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$31.53M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Goodwill	`Goodwill`	$114.11M	USD	Point-in-time
Goodwill	`Goodwill`	$115.48M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$117.33M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$118.92M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Debt issuance costs, net	`DeferredFinanceCostsNet`	$1.53M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Debt issuance costs, net	`DeferredFinanceCostsNet`	$1.70M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other long term assets	`OtherAssetsNoncurrent`	$263.00K	USD	Point-in-time
Other long term assets	`OtherAssetsNoncurrent`	$253.00K	USD	Point-in-time
Total assets	`Assets`	$442.46M	USD	Point-in-time
Total assets	`Assets`	$456.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.63M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$12.50M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$9.87M	USD	Point-in-time
Current portion of long term debt	`SecuredDebtCurrent`	$13.50M	USD	Point-in-time
Current portion of long term debt	`SecuredDebtCurrent`	$13.50M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$1.30M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$1.75M	USD	Point-in-time
Income taxes payable	`DeferredTaxLiabilitiesCurrent`	$956.00K	USD	Point-in-time
Income taxes payable	`DeferredTaxLiabilitiesCurrent`	$1.51M	USD	Point-in-time
Obligations due to settle the CHS Transactions	`DueToRelatedPartiesCurrent`	$567.00K	USD	Point-in-time
Obligations due to settle the CHS Transactions	`DueToRelatedPartiesCurrent`	$567.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$47.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.71M	USD	Point-in-time
Long-term debt, net of current maturities	`SecuredLongTermDebt`	$104.62M	USD	Point-in-time
Long-term debt, net of current maturities	`SecuredLongTermDebt`	$108.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$34.05M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$37.90M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$2.43M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$2.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$191.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$188.12M	USD	Point-in-time
Common stock: $.001 par value; 150,000,000 authorized; 31,995,684 and 31,920,865 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively	`CommonStockValue`	$32.00K	USD	Point-in-time
Common stock: $.001 par value; 150,000,000 authorized; 31,995,684 and 31,920,865 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively	`CommonStockValue`	$32.00K	USD	Point-in-time
Preferred stock: $.001 par value; 10,000,000 authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $.001 par value; 10,000,000 authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$210.70M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$208.45M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-7.88M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-3.52M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$61.40M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$49.86M	USD	Point-in-time
Shareholders equity	`StockholdersEquity`	$268.61M	USD	Point-in-time
Shareholders equity	`StockholdersEquity`	$250.47M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$442.46M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$456.73M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$65.60M	USD	1 Quarter
Sales	`SalesRevenueNet`	$67.67M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$34.59M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$33.82M	USD	1 Quarter
Gross profit	`GrossProfit`	$33.84M	USD	1 Quarter
Gross profit	`GrossProfit`	$31.01M	USD	1 Quarter
Marketing, general and administrative and engineering	`SellingGeneralAndAdministrativeExpense`	$16.17M	USD	1 Quarter
Marketing, general and administrative and engineering	`SellingGeneralAndAdministrativeExpense`	$18.33M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.75M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.79M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.76M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.05M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$108.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$26.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.30M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.00M	USD	1 Quarter
Loss on retirement of senior secured notes	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on retirement of senior secured notes	`GainsLossesOnExtinguishmentOfDebt`	$-15.48M	USD	1 Quarter
Other Income	`OtherNonoperatingExpense`	$-30.00K	USD	1 Quarter
Other Income	`OtherNonoperatingExpense`	$-17.00K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.38M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.59M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$53.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-2.44M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$11.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.94M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$11.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.94M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.04M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$4.62M	USD	1 Quarter
Derivative valuation, net of tax	`DerivativeGainLossOnDerivativeNet`	$-292.00K	USD	1 Quarter
Derivative valuation, net of tax	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$15.86M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-10.97M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.36	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.22	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.36	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.22	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	31.94M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	31.34M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.34M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.34M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$11.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.56M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.53M	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$118.00K	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$4.21M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$556.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$366.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.90M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.05M	USD	1 Quarter
Loss on retirement of senior secured notes	`PremiumsPaidOnRedemptionIncludedAsFinancingActivities`	-	USD	1 Quarter
Loss on retirement of senior secured notes	`PremiumsPaidOnRedemptionIncludedAsFinancingActivities`	$15.48M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-684.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.39M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.39M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-232.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-205.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$122.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-552.00K	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$503.00K	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.03M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.69M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$583.00K	USD	1 Quarter
Accrued liabilities and noncurrent liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.37M	USD	1 Quarter
Accrued liabilities and noncurrent liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.04M	USD	1 Quarter
Income taxes payable and receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$569.00K	USD	1 Quarter
Income taxes payable and receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$238.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.12M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.16M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$617.00K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$751.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-751.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-617.00K	USD	1 Quarter
Payments on senior secured notes	`RepaymentsOfSecuredDebt`	$118.14M	USD	1 Quarter
Payments on senior secured notes	`RepaymentsOfSecuredDebt`	-	USD	1 Quarter
Proceeds from long term debt	`ProceedsFromNotesPayable`	$135.00M	USD	1 Quarter
Proceeds from long term debt	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Payments on long term debt	`RepaymentsOfLongTermDebt`	$3.38M	USD	1 Quarter
Payments on long term debt	`RepaymentsOfLongTermDebt`	$3.38M	USD	1 Quarter
Issuance costs associated with revolving line of credit and long term debt	`PaymentsOfDebtIssuanceCosts`	$1.73M	USD	1 Quarter
Issuance costs associated with revolving line of credit and long term debt	`PaymentsOfDebtIssuanceCosts`	$290.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$486.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$326.00K	USD	1 Quarter
Benefit from excess tax deduction from option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Benefit from excess tax deduction from option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.36M	USD	1 Quarter
Premiums paid on redemptions	`RedemptionPremium`	-	USD	1 Quarter
Premiums paid on redemptions	`RedemptionPremium`	$-15.48M	USD	1 Quarter
Lease financing, net	`CapitalLeaseObligationsIncurred`	-	USD	1 Quarter
Lease financing, net	`CapitalLeaseObligationsIncurred`	$-24.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.95M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.25M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$1.20M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-779.00K	USD	1 Quarter
Change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$1.52M	USD	1 Quarter
Change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$4.62M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.37M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$77.26M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$43.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$72.64M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.37M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$77.26M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$43.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$72.64M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.