Thermon Group Holdings (THR) Misses Q1 EPS by 6c; Acquires Process Insulators
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Thermon Announces Acquisition of Industrial Process Insulators, Inc.
August 5, 2015 8:02 AM EDTSAN MARCOS, TX -- (Marketwired) -- 08/05/15 -- Thermon Group Holdings, Inc. (NYSE: THR) ("Thermon") today announced that a wholly-owned, indirect subsidiary of Thermon has acquired 100% of the equity interests of Industrial Process Insulators, Inc. ("IPI"), effective July 31, 2015 (the "Transaction").
IPI is an insulation contractor serving the refining, petrochemical, power and energy, marine, and pulp and paper industries in the United States, with a significant presence in the Texas and Louisiana Gulf Coast region. For the unaudited twelve month period ended June 30, 2015 ("TTM"), IPI generated revenue of approximately $22 million. The IPI management... More
Thermon Reports First Quarter Results
August 5, 2015 8:02 AM EDTSAN MARCOS, TX -- (Marketwired) -- 08/05/15 -- Thermon Group Holdings, Inc. (NYSE: THR) ("Thermon" or the "Company") today announced consolidated financial results for the first quarter of the fiscal year ending March 31, 2016 ("Q1 2016").
Highlights for the quarter include:
Revenue of $65.2 million, a decrease of 4% compared to Q1 2015 Organic revenue, excluding the effects of foreign currency and recent acquisitions, totaled $66.5 million versus $67.7 million in Q1 2015 Gross margin percentage of 47.1% compared to 50.0% in Q1 2015 due to higher Greenfield mix Fully diluted GAAP EPS of $0.14 and Adjusted EPS of... More