Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Comprehensive Income (Loss)

v2.4.0.6
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Sales $ 67,358 $ 68,023 $ 134,571 $ 132,641
Cost of sales 34,719 36,072 68,593 68,701
Gross profit 32,639 31,951 65,978 63,940
Operating expenses:        
Marketing, general and administrative and engineering 14,494 14,687 30,509 44,303
Amortization of other intangible assets 2,798 2,878 5,592 5,763
Income (loss) from operations 15,347 14,386 29,877 13,874
Other income/(expenses):        
Interest income 30 76 57 167
Interest expense (4,693) (5,030) (9,060) (11,820)
Loss on retirement of senior secured notes 0 (2,336) 0 (2,966)
Miscellaneous income (expense) 93 (1,173) 137 (1,187)
Income (loss) before provision for income taxes 10,777 5,923 21,011 (1,932)
Income tax expense (benefit) 3,790 2,109 7,424 (780)
Net income (loss) 6,987 3,814 13,587 (1,152)
Comprehensive income (loss):        
Net income (loss) 6,987 3,814 13,587 (1,152)
Foreign currency translation adjustment 5,412 (12,525) (36) (11,130)
Comprehensive income (loss) 12,399 (8,711) 13,551 (12,282)
Income (loss) per common share:        
Basic (in dollars per share) $ 0.23 $ 0.13 $ 0.44 $ (0.04)
Diluted (in dollars per share) $ 0.22 $ 0.12 $ 0.43 $ (0.04)
Weighted-average shares used in computing net income (loss) per common share:        
Basic 30,725,652 29,523,641 30,534,607 28,640,896
Diluted (in shares) 31,640,943 31,262,300 31,418,979 28,640,896
Thermon Holding Corp. (Guarantor)
        
Sales 0 0 0 0
Cost of sales 0 0 0 0
Gross profit 0 0 0 0
Operating expenses:        
Marketing, general and administrative and engineering 336 58 394 6,515
Amortization of other intangible assets 64 64 127 128
Income (loss) from operations (400) (122) (521) (6,643)
Other income/(expenses):        
Interest income 0 0 0 0
Interest expense 0 0 0 0
Loss on retirement of senior secured notes   0   0
Miscellaneous income (expense) 0 0 0 0
Income (loss) before provision for income taxes 767 4,323 13,546 (643)
Income tax expense (benefit) (140) 0 (183) 0
Net income (loss) 907 4,323 13,729 (643)
Comprehensive income (loss):        
Net income (loss) 907 4,323 13,729 (643)
Foreign currency translation adjustment 0 0 0 0
Comprehensive income (loss) 907 4,323 13,729 (643)
Weighted-average shares used in computing net income (loss) per common share:        
Equity in Earnings of Subsidiaries 1,167 4,445 14,067 6,000
Subsidiary Issuer [Member]
        
Sales 0 0 0 0
Cost of sales 0 0 0 0
Gross profit 0 0 0 0
Operating expenses:        
Marketing, general and administrative and engineering 0 (1) 0 7,860
Amortization of other intangible assets 0 0 0 0
Income (loss) from operations 0 1 0 (7,860)
Other income/(expenses):        
Interest income 0 0 0 0
Interest expense 4,547 4,886 8,702 11,589
Loss on retirement of senior secured notes   (2,336)   (2,966)
Miscellaneous income (expense) 0 0 0 0
Income (loss) before provision for income taxes (440) (511) 1,438 (2,393)
Income tax expense (benefit) (1,591) 0 (3,046) 0
Net income (loss) 1,151 (511) 4,484 (2,393)
Comprehensive income (loss):        
Net income (loss) 1,151 (511) 4,484 (2,393)
Foreign currency translation adjustment 0 0 0 0
Comprehensive income (loss) 1,151 (511) 4,484 (2,393)
Weighted-average shares used in computing net income (loss) per common share:        
Equity in Earnings of Subsidiaries 4,107 6,710 10,140 20,022
Guarantor Subsidiaries [Member]
        
Sales 31,081 36,626 67,161 74,500
Cost of sales 19,888 24,434 42,760 49,119
Gross profit 11,193 12,192 24,401 25,381
Operating expenses:        
Marketing, general and administrative and engineering 5,713 6,480 12,910 14,377
Amortization of other intangible assets 1,460 1,461 2,921 2,921
Income (loss) from operations 4,020 4,251 8,570 8,083
Other income/(expenses):        
Interest income   1   21
Interest expense 50 32 111 35
Loss on retirement of senior secured notes   0   0
Miscellaneous income (expense) (1,645) (1,743) (3,834) (3,648)
Income (loss) before provision for income taxes 7,252 9,480 16,317 21,288
Income tax expense (benefit) 3,145 71 6,177 (4,864)
Net income (loss) 4,107 9,409 10,140 26,152
Comprehensive income (loss):        
Net income (loss) 4,107 9,409 10,140 26,152
Foreign currency translation adjustment 0 0 0 0
Comprehensive income (loss) 4,107 9,409 10,140 26,152
Weighted-average shares used in computing net income (loss) per common share:        
Equity in Earnings of Subsidiaries 1,637 3,517 4,024 9,571
Non-Guarantor Subsidiaries [Member]
        
Sales 50,100 45,813 98,228 90,638
Cost of sales 28,654 26,139 56,396 51,490
Gross profit 21,446 19,674 41,832 39,148
Operating expenses:        
Marketing, general and administrative and engineering 8,445 8,150 17,205 15,551
Amortization of other intangible assets 1,274 1,353 2,544 2,714
Income (loss) from operations 11,727 10,171 22,083 20,883
Other income/(expenses):        
Interest income 30 75 57 146
Interest expense 96 112 247 196
Loss on retirement of senior secured notes   0   0
Miscellaneous income (expense) 1,552 2,916 3,697 4,835
Income (loss) before provision for income taxes 10,109 7,218 18,196 15,998
Income tax expense (benefit) 2,556 1,996 4,574 4,266
Net income (loss) 7,553 5,222 13,622 11,732
Comprehensive income (loss):        
Net income (loss) 7,553 5,222 13,622 11,732
Foreign currency translation adjustment 5,412 (12,525) (36) (11,130)
Comprehensive income (loss) 12,965 (7,303) 13,586 602
Weighted-average shares used in computing net income (loss) per common share:        
Equity in Earnings of Subsidiaries 0 0 0 0
Consolidation, Eliminations [Member]
        
Sales (13,823) (14,416) (30,818) (32,497)
Cost of sales (13,823) (14,501) (30,563) (31,908)
Gross profit 0 85 (255) (589)
Operating expenses:        
Marketing, general and administrative and engineering 0 0 0 0
Amortization of other intangible assets 0 0 0 0
Income (loss) from operations 0 85 (255) (589)
Other income/(expenses):        
Interest income 0 0 0 0
Interest expense 0 0 0 0
Loss on retirement of senior secured notes   0   0
Miscellaneous income (expense) 0 0 0 0
Income (loss) before provision for income taxes (6,911) (14,587) (28,486) (36,182)
Income tax expense (benefit) (180) 42 (98) (182)
Net income (loss) (6,731) (14,629) (28,388) (36,000)
Comprehensive income (loss):        
Net income (loss) (6,731) (14,629) (28,388) (36,000)
Foreign currency translation adjustment 0 0 0 0
Comprehensive income (loss) (6,731) (14,629) (28,388) (36,000)
Weighted-average shares used in computing net income (loss) per common share:        
Equity in Earnings of Subsidiaries (6,911) (14,672) (28,231) (35,593)
Thermon Holding Corp.
        
Sales 67,358 68,023 134,571 132,641
Cost of sales 34,719 36,072 68,593 68,701
Gross profit 32,639 31,951 65,978 63,940
Operating expenses:        
Marketing, general and administrative and engineering 14,494 14,687 30,509 44,303
Amortization of other intangible assets 2,798 2,878 5,592 5,763
Income (loss) from operations 15,347 14,386 29,877 13,874
Other income/(expenses):        
Interest income 30 76 57 167
Interest expense 4,693 5,030 9,060 11,820
Loss on retirement of senior secured notes 0 (2,336) 0 (2,966)
Miscellaneous income (expense) (93) 1,173 (137) 1,187
Income (loss) before provision for income taxes 10,777 5,923 21,011 (1,932)
Income tax expense (benefit) 3,790 2,109 7,424 (780)
Net income (loss) 6,987 3,814 13,587 (1,152)
Comprehensive income (loss):        
Net income (loss) 6,987 3,814 13,587 (1,152)
Foreign currency translation adjustment 5,412 (12,525) (36) (11,130)
Comprehensive income (loss) 12,399 (8,711) 13,551 (12,282)
Weighted-average shares used in computing net income (loss) per common share:        
Equity in Earnings of Subsidiaries $ 0 $ 0 $ 0 $ 0