Quarterly report pursuant to Section 13 or 15(d)

Earnings and Net Income (Loss) per Common Share

v3.5.0.2
Earnings and Net Income (Loss) per Common Share
 3 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings and Net Income (Loss) per Common Share
Net Income per Common Share
Basic net income per common share is computed by dividing net income available to Thermon Group Holdings, Inc. by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income available to Thermon Group Holdings, Inc. by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method.  With regard to the performance stock units, we assumed that the target number of shares would be issued within the calculation of diluted net income per common share.
The reconciliations of the denominators used to calculate basic and diluted net income per common share for the three months ended June 30, 2016 and 2015, respectively, are as follows:
 
Three Months Ended June 30, 2016
 
Three Months Ended June 30, 2015
Basic net income per common share
 
 
 
Net income available to Thermon Group Holdings, Inc.
$
2,526

 
$
4,429

Weighted-average common shares outstanding
32,232,340

 
32,103,274

Basic net income per common share
$
0.08

 
$
0.14

 
Three Months Ended June 30, 2016
 
Three Months Ended June 30, 2015
Diluted net income per common share
 

 
 

Net income available to Thermon Group Holdings, Inc.
$
2,526

 
$
4,429

Weighted-average common shares outstanding
32,232,340

 
32,103,274

Common share equivalents:
 
 
 
Stock options
227,134

 
253,895

Restricted and performance stock units
234,761

 
134,835

Weighted average shares outstanding – dilutive (1)
32,694,235

 
32,492,004

Diluted net income per common share
$
0.08

 
$
0.14

(1) For the three months ended June 30, 2016 and 2015, 47,706 and 69,613 equity awards were not included in the calculation of diluted net income per common share, respectively, as they would have an anti-dilutive effect.