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
 6 Months Ended
Sep. 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 and six months ended September 30, 2016 and 2015, respectively, are as follows:
 
 Three Months Ended September 30, 2016
 
 Three Months Ended September 30, 2015
 
Six Months Ended September 30, 2016
 
Six Months Ended September 30, 2015
Basic net income per common share
 
 
 
 
 
 
 
Net income available to Thermon Group Holdings, Inc.
$
3,506

 
$
6,896

 
$
6,032

 
$
11,325

Weighted-average common shares outstanding
32,278,361

 
32,133,338

 
32,255,476

 
32,164,678

Basic net income per common share
$
0.11

 
$
0.21

 
$
0.19

 
$
0.35

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

 
 

Net income available to Thermon Group Holdings, Inc.
$
3,506

 
$
6,896

 
$
6,032

 
$
11,325

Weighted-average common shares outstanding
32,278,361

 
32,133,338

 
32,255,476

 
32,164,678

Common share equivalents:
 
 
 
 
 
 
 
Stock options
224,795

 
250,672

 
226,396

 
254,037

Restricted and performance stock units
107,779

 
151,374

 
98,416

 
153,149

Weighted average shares outstanding – dilutive (1)
32,610,935

 
32,535,384

 
32,580,288

 
32,571,864

Diluted net income per common share
$
0.11

 
$
0.21

 
$
0.19

 
$
0.35

(1) For the three and six months ended September 30, 2016, 68,736 and 70,799 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect. For the three and six months ended September 30, 2015, 64,599 equity awards were not included in the calculation of diluted net income per common share as they would have had an anti-dilutive effect.