10-Q Filing

THERMON GROUP HOLDINGS, INC. CIK: 1489096 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001489096-16-000171`
Period End Date	20160630
Filing Date	20160805
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	thr-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 44 Cash Flow Statement 60

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$79.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$93.77M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $609 and $656 as of June 30, 2016 and March 31, 2016, respectively	`AccountsReceivableNetCurrent`	$57.15M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $609 and $656 as of June 30, 2016 and March 31, 2016, respectively	`AccountsReceivableNetCurrent`	$58.49M	USD	Point-in-time
Inventories, net	`InventoryNet`	$40.65M	USD	Point-in-time
Inventories, net	`InventoryNet`	$41.10M	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$9.27M	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$7.61M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.11M	USD	Point-in-time
Debt issuance costs, net	`DeferredFinanceCostsNet`	$888.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.23M	USD	Point-in-time
Debt issuance costs, net	`DeferredFinanceCostsNet`	$793.00K	USD	Point-in-time
Income Tax Receivable	`IncomeTaxesReceivable`	$209.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Income Tax Receivable	`IncomeTaxesReceivable`	$209.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$191.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$199.75M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.22M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.24M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$41.62M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$41.98M	USD	Point-in-time
Goodwill	`Goodwill`	$124.61M	USD	Point-in-time
Goodwill	`Goodwill`	$121.51M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.22M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.24M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$104.00M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$96.05M	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
Long term deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.48M	USD	Point-in-time
Long term deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.60M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other long term assets	`OtherAssetsNoncurrent`	$320.00K	USD	Point-in-time
Other long term assets	`OtherAssetsNoncurrent`	$323.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total assets	`Assets`	$456.97M	USD	Point-in-time
Total assets	`Assets`	$468.68M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.82M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$18.24M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$13.40M	USD	Point-in-time
Current portion of long term debt	`SecuredDebtCurrent`	$13.50M	USD	Point-in-time
Current portion of long term debt	`SecuredDebtCurrent`	$15.19M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$3.44M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$4.35M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.36M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.12M	USD	Point-in-time
Long-term debt, net of current maturities	`SecuredLongTermDebt`	$75.14M	USD	Point-in-time
Long-term debt, net of current maturities	`SecuredLongTermDebt`	$80.11M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$27.57M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$29.11M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$3.18M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$3.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$169.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$155.09M	USD	Point-in-time
Common stock: $.001 par value; 150,000,000 authorized; 32,240,876 and 32,222,720 shares issued and outstanding at June 30, 2016 and March 31, 2016, respectively	`CommonStockValue`	$32.00K	USD	Point-in-time
Common stock: $.001 par value; 150,000,000 authorized; 32,240,876 and 32,222,720 shares issued and outstanding at June 30, 2016 and March 31, 2016, 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`	$216.70M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$217.55M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-44.57M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-44.88M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$124.78M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$122.26M	USD	Point-in-time
Total Thermon Group Holdings, Inc. shareholders' equity	`StockholdersEquity`	$294.42M	USD	Point-in-time
Total Thermon Group Holdings, Inc. shareholders' equity	`StockholdersEquity`	$297.49M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$4.28M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$4.40M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$301.88M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$298.70M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$468.68M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$456.97M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$63.40M	USD	1 Quarter
Sales	`SalesRevenueNet`	$65.22M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$37.28M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$34.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$26.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$30.74M	USD	1 Quarter
Marketing, general and administrative and engineering	`SellingGeneralAndAdministrativeExpense`	$19.85M	USD	1 Quarter
Marketing, general and administrative and engineering	`SellingGeneralAndAdministrativeExpense`	$19.11M	USD	1 Quarter
Amortization of intangible assets	`SellingGeneralandAdministrativeExpenseAmortization`	$2.82M	USD	1 Quarter
Amortization of intangible assets	`SellingGeneralandAdministrativeExpenseAmortization`	$2.82M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.07M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.19M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$106.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$107.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$914.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.02M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-168.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$277.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.66M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.99M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.47M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.01M	USD	1 Quarter
Net income	`ProfitLoss`	$4.53M	USD	1 Quarter
Net income	`ProfitLoss`	$2.64M	USD	1 Quarter
Income attributable to non-controlling interests	`IncomeLossAttributableToNoncontrollingInterest`	$118.00K	USD	1 Quarter
Income attributable to non-controlling interests	`IncomeLossAttributableToNoncontrollingInterest`	$97.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.43M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.43M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.40M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-182.00K	USD	1 Quarter
Derivative valuation, net of tax	`DerivativeGainLossOnDerivativeNet`	$102.00K	USD	1 Quarter
Derivative valuation, net of tax	`DerivativeGainLossOnDerivativeNet`	$-131.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.21M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.93M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.23M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.10M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.69M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.49M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$4.53M	USD	1 Quarter
Net income	`ProfitLoss`	$2.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.01M	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$102.00K	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$109.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$875.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$906.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-592.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-833.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-108.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-254.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.21M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.33M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$411.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$993.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-766.00K	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.79M	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.04M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.46M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.56M	USD	1 Quarter
Accrued liabilities and noncurrent liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.30M	USD	1 Quarter
Accrued liabilities and noncurrent liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-4.31M	USD	1 Quarter
Income taxes payable and receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-2.48M	USD	1 Quarter
Income taxes payable and receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-3.74M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.03M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.98M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.78M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.01M	USD	1 Quarter
Sale of rental equipment at net book value	`ProceedsfromSaleofPropertyPlantandEquipmentRentalEquipment`	-	USD	1 Quarter
Sale of rental equipment at net book value	`ProceedsfromSaleofPropertyPlantandEquipmentRentalEquipment`	$20.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsfromSaleofPropertyPlantandEquipmentExcludingRentalEquipment`	-	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsfromSaleofPropertyPlantandEquipmentExcludingRentalEquipment`	$441.00K	USD	1 Quarter
Cash paid for acquisitions (net of cash acquired)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash paid for acquisitions (net of cash acquired)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$10.96M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.55M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-14.74M	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
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$64.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$67.00K	USD	1 Quarter
Repurchase of employee stock units on vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$122.00K	USD	1 Quarter
Repurchase of employee stock units on vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$708.00K	USD	1 Quarter
Lease financing	`CapitalLeaseObligationsIncurred`	$68.00K	USD	1 Quarter
Lease financing	`CapitalLeaseObligationsIncurred`	$52.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.50M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.07M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$68.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$420.00K	USD	1 Quarter
Change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-14.41M	USD	1 Quarter
Change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-12.01M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$79.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$84.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$72.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$93.77M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$79.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$84.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$72.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$93.77M	USD	Point-in-time

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