Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v2.4.0.6
Condensed Consolidated Statement of Cash Flows (USD $)
 6 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating activities    
Net income (loss) $ 13,587,000 $ (1,152,000)
Adjustment to reconcile net income (loss) to net cash (used in), provided by operating activities:    
Depreciation and amortization 6,856,000 7,338,000
Amortization of debt costs 2,904,000 3,764,000
Stock compensation expense 394,000 6,399,000
Benefit for deferred income taxes (3,005,000) (65,000)
Premiums Paid on Redemption, Included as Financing Activities 0 2,966,000
Changes in operating assets and liabilities:    
Accounts receivable (3,693,000) (8,773,000)
Inventories (3,526,000) (5,622,000)
Costs and estimated earnings in excess of billings on uncompleted contracts (608,000) (329,000)
Other current and noncurrent assets (429,000) 1,289,000
Accounts payable 6,611,000 1,341,000
Accrued liabilities and noncurrent liabilities (5,833,000) (8,154,000)
Income taxes payable 567,000 (13,784,000)
Net cash (used in) provided by operating activities 13,825,000 (14,782,000)
Investing activities    
Purchases of property, plant and equipment (2,880,000) (4,267,000)
Cash paid for Thermon Holding Corp. (137,000) (372,000)
Net cash used in investing activities (3,017,000) (4,639,000)
Financing activities    
Payments on senior secured notes (21,000,000) (66,590,000)
Proceeds from revolving line of credit 0 6,500,000
Capital contributions 0 48,459,000
Premium paid on retirement of senior secured notes (630,000) (3,596,000)
Proceeds from employee stock options 3,251,000 0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities 2,585,000 0
Net cash provided by (used in) financing activities (15,794,000) (17,290,000)
Payments on revolving lines of credit and long-term debt 0 (2,063,000)
Effect of exchange rate changes on cash and cash equivalents (72,000) (1,363,000)
Change in cash and cash equivalents (5,058,000) (38,074,000)
Cash and cash equivalents at beginning of period 21,468,000 51,266,000
Cash and cash equivalents at end of period 16,410,000 13,192,000
Thermon Holding Corp.
    
Operating activities    
Net income (loss) 13,587,000 (1,152,000)
Adjustment to reconcile net income (loss) to net cash (used in), provided by operating activities:    
Depreciation and amortization 6,856,000 7,338,000
Amortization of debt costs 2,904,000 3,764,000
Stock compensation expense 394,000 6,399,000
Benefit for deferred income taxes (3,005,000) (65,000)
Premiums Paid on Redemption, Included as Financing Activities 0 2,966,000
Changes in operating assets and liabilities:    
Accounts receivable (3,693,000) (8,773,000)
Inventories (3,526,000) (5,622,000)
Costs and estimated earnings in excess of billings on uncompleted contracts (608,000) (329,000)
Other current and noncurrent assets (429,000) 1,289,000
Accounts payable 6,611,000 1,341,000
Accrued liabilities and noncurrent liabilities (5,833,000) (8,154,000)
Income taxes payable 567,000 (13,784,000)
Net cash (used in) provided by operating activities 13,825,000 (14,782,000)
Investing activities    
Purchases of property, plant and equipment (2,880,000) (4,267,000)
Cash paid for Thermon Holding Corp. (137,000) (372,000)
Net cash used in investing activities (3,017,000) (4,639,000)
Financing activities    
Payments on senior secured notes (21,000,000) (66,590,000)
Proceeds from revolving line of credit 0  
Proceeds from revolving line of credit   (2,063,000)
Proceeds from revolving line of credit 0 6,500,000
Capital contributions 0 48,709,000
Premium paid on retirement of senior secured notes (630,000) (3,596,000)
Proceeds from employee stock options 3,251,000 0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities 2,585,000 0
Net cash provided by (used in) financing activities (15,794,000) (17,040,000)
Payments on revolving lines of credit and long-term debt 0 (2,063,000)
Effect of exchange rate changes on cash and cash equivalents (72,000) (1,363,000)
Change in cash and cash equivalents (5,058,000) (37,824,000)
Cash and cash equivalents at beginning of period 21,468,000 51,016,000
Cash and cash equivalents at end of period $ 16,410,000 $ 13,192,000