$THR
Thermon Group Holdings, Inc.

2013 Q1 Form 10-Q Financial Statement

#000148909613000010 Filed on February 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q4 2011 Q4
Revenue $71.67M $76.83M $69.28M
YoY Change 3.02% 10.9% 6.68%
Cost Of Revenue $40.20M $41.88M $35.51M
YoY Change 14.58% 17.95% 0.49%
Gross Profit $31.90M $34.95M $33.69M
YoY Change -7.48% 3.74% 13.79%
Gross Profit Margin 44.52% 45.49% 48.63%
Selling, General & Admin $17.20M $16.89M $15.30M
YoY Change 2.99% 10.36% 4.05%
% of Gross Profit 53.91% 48.31% 45.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.520M $3.450M $3.280M
YoY Change 5.07% 5.18% -22.46%
% of Gross Profit 11.03% 9.87% 9.74%
Operating Expenses $20.00M $16.89M $15.30M
YoY Change 2.56% 10.36% 4.05%
Operating Profit $11.86M $15.25M $15.58M
YoY Change -20.95% -2.11% 39.09%
Interest Expense -$3.000M $3.116M $4.203M
YoY Change -18.92% -25.86% -24.68%
% of Operating Profit -25.3% 20.43% 26.97%
Other Income/Expense, Net -$200.0K -$300.0K -$200.0K
YoY Change -33.33% 50.0% -80.0%
Pretax Income $8.600M $11.90M $11.01M
YoY Change -17.31% 8.1% 139.23%
Income Tax $3.000M $4.161M $4.074M
% Of Pretax Income 34.88% 34.97% 37.01%
Net Earnings $5.649M $7.738M $6.933M
YoY Change -9.62% 11.61% 131.1%
Net Earnings / Revenue 7.88% 10.07% 10.01%
Basic Earnings Per Share $0.18 $0.25 $0.23
Diluted Earnings Per Share $175.0K $0.24 $0.22
COMMON SHARES
Basic Shares Outstanding 31.14M shares 30.95M shares 29.59M shares
Diluted Shares Outstanding 31.87M shares 31.22M shares

Balance Sheet

Concept 2013 Q1 2012 Q4 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.80M $28.40M $19.80M
YoY Change 103.72% 43.43% -43.75%
Cash & Equivalents $72.64M $28.39M $19.78M
Short-Term Investments
Other Short-Term Assets $11.90M $13.20M $11.10M
YoY Change -5.56% 18.92% 4.72%
Inventory $34.39M $40.92M $40.14M
Prepaid Expenses
Receivables $56.12M $55.90M $46.19M
Other Receivables $5.300M $5.100M $6.300M
Total Short-Term Assets $151.6M $143.5M $123.5M
YoY Change 18.73% 16.19% 0.87%
LONG-TERM ASSETS
Property, Plant & Equipment $31.21M $31.10M $25.38M
YoY Change 12.83% 22.52% 8.47%
Goodwill $116.3M $118.0M $116.4M
YoY Change -1.44% 1.33%
Intangibles $131.9M $136.3M $146.0M
YoY Change -8.9% -6.63%
Long-Term Investments
YoY Change
Other Assets $143.0K $4.600M $7.500M
YoY Change -38.67% -39.02%
Total Long-Term Assets $283.9M $290.0M $295.3M
YoY Change -4.69% -1.8% -5.26%
TOTAL ASSETS
Total Short-Term Assets $151.6M $143.5M $123.5M
Total Long-Term Assets $283.9M $290.0M $295.3M
Total Assets $435.5M $433.4M $418.8M
YoY Change 2.34% 3.5% -3.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.37M $24.16M $21.59M
YoY Change 29.51% 11.87% 32.47%
Accrued Expenses $18.72M $15.06M $15.53M
YoY Change -16.61% -3.01% -7.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $9.000M
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $45.66M $47.10M $52.30M
YoY Change -31.36% -9.94% 10.81%
LONG-TERM LIABILITIES
Long-Term Debt $118.1M $118.1M $139.1M
YoY Change 0.0% -15.1% -33.76%
Other Long-Term Liabilities $3.073M $2.702M $1.967M
YoY Change 26.1% 37.37% 9.28%
Total Long-Term Liabilities $3.073M $2.702M $1.967M
YoY Change 26.1% 37.37% -99.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.66M $47.10M $52.30M
Total Long-Term Liabilities $3.073M $2.702M $1.967M
Total Liabilities $209.5M $49.80M $54.27M
YoY Change 203.79% -8.23% -82.66%
SHAREHOLDERS EQUITY
Retained Earnings $24.06M $18.42M -$9.159M
YoY Change -926.94% -301.06%
Common Stock $203.1M $200.8M $187.9M
YoY Change 5.74% 6.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $226.0M $222.4M $177.8M
YoY Change
Total Liabilities & Shareholders Equity $435.5M $433.4M $418.8M
YoY Change 2.34% 3.5% -3.53%

Cashflow Statement

Concept 2013 Q1 2012 Q4 2011 Q4
OPERATING ACTIVITIES
Net Income $5.649M $7.738M $6.933M
YoY Change -9.62% 11.61% 131.1%
Depreciation, Depletion And Amortization $3.520M $3.450M $3.280M
YoY Change 5.07% 5.18% -22.46%
Cash From Operating Activities $15.23M $12.31M $8.300M
YoY Change 58.81% 48.31% -57.04%
INVESTING ACTIVITIES
Capital Expenditures -$1.010M -$2.370M -$1.910M
YoY Change -62.59% 24.08% 9450.0%
Acquisitions $67.00K $137.0K
YoY Change -51.09%
Other Investing Activities -$90.00K -$60.00K -$290.0K
YoY Change 200.0% -79.31% -27.5%
Cash From Investing Activities -$1.100M -$2.430M -$2.200M
YoY Change -59.71% 10.45% 423.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.750M 1.850M -420.0K
YoY Change -135.28% -540.48% 180.0%
NET CHANGE
Cash From Operating Activities 15.23M 12.31M 8.300M
Cash From Investing Activities -1.100M -2.430M -2.200M
Cash From Financing Activities 1.750M 1.850M -420.0K
Net Change In Cash 15.88M 11.73M 5.680M
YoY Change 735.79% 106.51% -69.71%
FREE CASH FLOW
Cash From Operating Activities $15.23M $12.31M $8.300M
Capital Expenditures -$1.010M -$2.370M -$1.910M
Free Cash Flow $16.24M $14.68M $10.21M
YoY Change 32.14% 43.78% -47.21%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. While our management has based their assumptions and estimates on the facts and circumstances existing at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2012</font><font style="font-family:inherit;font-size:10pt;">, actual results could differ from those estimates and affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements.&#160; The operating results for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> month period ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2012</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be achieved for the fiscal year ending </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;">.&#160;</font></div></div>
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thr Effective Income Tax Rate After Discrete Event
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thr Effective Income Tax Rate Before Discrete Event
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CY2012Q4 thr Guarantee Obligations Cash Deposits Pledged As Collateral
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thr Number Of Stock Option Award Plans
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thr Premiums Paid On Redemption Included As Financing Activities
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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2013
dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001489096
CY2013Q1 dei Entity Common Stock Shares Outstanding
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31139628 shares
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Thermon Group Holdings, Inc.

Files In Submission

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