Quarterly report pursuant to Section 13 or 15(d)

Earnings and Net Income (Loss) per Common Share

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Earnings and Net Income (Loss) per Common Share
 3 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Earnings and Net Income (Loss) per Common Share
Earnings and Net Income per Common Share
Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income 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 EPS for the three months ended June 30, 2015 and 2014, respectively, are as follows:
 
Three Months Ended June 30, 2015
 
Three Months Ended June 30, 2014
Basic net income per common share
 
 
 
Net income available to Thermon Group Holdings, Inc.
4,429

 
$
11,534

Weighted-average common shares outstanding
32,103,274

 
31,943,534

Basic net income per common share
$
0.14

 
$
0.36

 
Three Months Ended June 30, 2015
 
Three Months Ended June 30, 2014
Diluted net income per common share
 

 
 

Net income available to Thermon Group Holdings, Inc.
4,429

 
$
11,534

Weighted-average common shares outstanding
32,103,274

 
31,943,534

Common share equivalents:
 
 
 
Stock options
253,895

 
298,948

Restricted and performance stock units
134,835

 
97,455

Weighted average shares outstanding – dilutive (1)
32,492,004

 
32,339,937

Diluted net income per common share
$
0.14

 
$
0.36

(1) For the three months ended June 30, 2015, 69,613 equity awards were not included in the calculation of diluted net income per common share since they would have had an anti-dilutive effect. For the three months ended June 30, 2014, 49,193 equity awards were not included in the calculation of diluted net income per common share since they would have had an anti-dilutive effect.