10-Q Filing

THERMON GROUP HOLDINGS, INC. CIK: 1489096 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001489096-17-000096`
Period End Date	20170630
Filing Date	20170802
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	thr-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 44 Cash Flow Statement 64

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.57M	USD	Point-in-time
Investments	`ShortTermInvestments`	$44.79M	USD	Point-in-time
Investments	`ShortTermInvestments`	$12.93M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $520 and $518 as of June 30, 2017 and March 31, 2017, respectively	`AccountsReceivableNetCurrent`	$63.72M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $520 and $518 as of June 30, 2017 and March 31, 2017, respectively	`AccountsReceivableNetCurrent`	$51.99M	USD	Point-in-time
Inventories, net	`InventoryNet`	$34.02M	USD	Point-in-time
Inventories, net	`InventoryNet`	$38.33M	USD	Point-in-time
Debt issuance costs, net	`DeferredFinanceCostsNet`	$442.00K	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$4.97M	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$5.20M	USD	Point-in-time
Debt issuance costs, net	`DeferredFinanceCostsNet`	$524.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.81M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.89M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.03M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$3.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$193.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.37M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.37M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$198.17M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.37M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.37M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$43.27M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$43.59M	USD	Point-in-time
Goodwill	`Goodwill`	$122.52M	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
Goodwill	`Goodwill`	$124.69M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$84.55M	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
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$86.18M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.74M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.82M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other long term assets	`OtherAssetsNoncurrent`	$724.00K	USD	Point-in-time
Other long term assets	`OtherAssetsNoncurrent`	$1.12M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total assets	`Assets`	$449.44M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Total assets	`Assets`	$454.08M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.64M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.67M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$13.14M	USD	Point-in-time
Current portion of long term debt	`SecuredDebtCurrent`	$20.25M	USD	Point-in-time
Current portion of long term debt	`SecuredDebtCurrent`	$20.25M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$2.77M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$2.06M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$481.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$328.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.32M	USD	Point-in-time
Long-term debt, net of current maturities and deferred debt issuance costs of $442 and $524 as of June 30, 2017 and March 31, 2017, respectively	`SecuredLongTermDebt`	$55.25M	USD	Point-in-time
Long-term debt, net of current maturities and deferred debt issuance costs of $442 and $524 as of June 30, 2017 and March 31, 2017, respectively	`SecuredLongTermDebt`	$60.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$25.66M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$25.15M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$3.60M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$3.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$129.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$141.58M	USD	Point-in-time
Common stock: $.001 par value; 150,000,000 authorized; 32,370,856 and 32,365,553 shares issued and outstanding at June 30, 2017 and March 31, 2017, respectively	`CommonStockValue`	$32.00K	USD	Point-in-time
Common stock: $.001 par value; 150,000,000 authorized; 32,370,856 and 32,365,553 shares issued and outstanding at June 30, 2017 and March 31, 2017, 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`	$219.85M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$219.28M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-48.34M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-42.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$136.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$137.67M	USD	Point-in-time
Total Thermon Group Holdings, Inc. shareholders' equity	`StockholdersEquity`	$314.64M	USD	Point-in-time
Total Thermon Group Holdings, Inc. shareholders' equity	`StockholdersEquity`	$307.88M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$4.86M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$4.62M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$319.50M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$312.50M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$449.44M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$454.08M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$51.74M	USD	1 Quarter
Sales	`SalesRevenueNet`	$63.40M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$37.28M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$27.92M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$26.11M	USD	1 Quarter
Marketing, general and administrative and engineering	`SellingGeneralAndAdministrativeExpense`	$19.11M	USD	1 Quarter
Marketing, general and administrative and engineering	`SellingGeneralAndAdministrativeExpense`	$19.32M	USD	1 Quarter
Amortization of intangible assets	`SellingGeneralandAdministrativeExpenseAmortization`	$2.94M	USD	1 Quarter
Amortization of intangible assets	`SellingGeneralandAdministrativeExpenseAmortization`	$2.82M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.19M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.56M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$153.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$106.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$914.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$802.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$277.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$32.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.66M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$941.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$227.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.01M	USD	1 Quarter
Net income	`ProfitLoss`	$714.00K	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`	$235.00K	USD	1 Quarter
Net income available to Thermon Group Holdings, Inc.	`NetIncomeLossAvailableToCommonStockholdersBasic`	$479.00K	USD	1 Quarter
Net income available to Thermon Group Holdings, Inc.	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.53M	USD	1 Quarter
Net income available to Thermon Group Holdings, Inc.	`NetIncomeLossAvailableToCommonStockholdersBasic`	$479.00K	USD	1 Quarter
Net income available to Thermon Group Holdings, Inc.	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.53M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-182.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$5.72M	USD	1 Quarter
Derivative valuation, net of tax	`DerivativeGainLossOnDerivativeNet`	$-2.00K	USD	1 Quarter
Derivative valuation, net of tax	`DerivativeGainLossOnDerivativeNet`	$-131.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.20M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.21M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.23M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.37M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.86M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.69M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$714.00K	USD	1 Quarter
Net income	`ProfitLoss`	$2.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.65M	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$102.00K	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$89.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$906.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$785.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-674.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-833.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-108.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$319.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-13.03M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.33M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$4.06M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$411.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-766.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-1.56M	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.28M	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.79M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.44M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.56M	USD	1 Quarter
Accrued liabilities and noncurrent liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.38M	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`	$-1.69M	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`	$5.50M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.80M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.01M	USD	1 Quarter
Sale of rental equipment at net book value	`ProceedsfromSaleofPropertyPlantandEquipmentRentalEquipment`	$4.00K	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`	$441.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsfromSaleofPropertyPlantandEquipmentExcludingRentalEquipment`	$8.00K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$4.09M	USD	1 Quarter
Proceeds from the sale of investments	`PaymentsForProceedsFromInvestments`	$-35.37M	USD	1 Quarter
Proceeds from the sale of investments	`PaymentsForProceedsFromInvestments`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.55M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$29.48M	USD	1 Quarter
Payments on long term debt	`RepaymentsOfLongTermDebt`	$3.38M	USD	1 Quarter
Payments on long term debt	`RepaymentsOfLongTermDebt`	$5.06M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$82.00K	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`	$163.00K	USD	1 Quarter
Benefit from excess tax deduction from option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-54.00K	USD	1 Quarter
Benefit from excess tax deduction from option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Lease financing	`CapitalLeaseObligationsIncurred`	$68.00K	USD	1 Quarter
Lease financing	`CapitalLeaseObligationsIncurred`	$70.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.50M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-5.27M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$2.02M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$68.00K	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$31.73M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-12.01M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.84M	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`	$74.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$84.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$42.84M	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`	$74.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$84.57M	USD	Point-in-time

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