Graham Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

Income Per Share

6 Months Ended

Sep. 30, 2016

NOTE 7 – INCOME PER SHARE:

Basic income per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted income per share is calculated by dividing net income by the weighted average number of common shares outstanding and, when applicable, potential common shares outstanding during the period. A reconciliation of the numerators and denominators of basic and diluted income per share is presented below:

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Basic income per share
Numerator:
Net income	$	1,297	$	1,976	$	1,382	$	4,337
Denominator:
Weighted average common shares outstanding		9,724		10,078		9,699		10,116
Basic income per share	$	.13	$	.20	$	.14	$	.43
Diluted income per share
Numerator:
Net income	$	1,297	$	1,976	$	1,382	$	4,337
Denominator:
Weighted average common shares outstanding		9,724		10,078		9,699		10,116
Stock options outstanding		4		5		5		9
Weighted average common and potential common shares outstanding		9,728		10,083		9,704		10,125
Diluted income per share	$	.13	$	.20	$	.14	$	.43

Options to purchase a total of 16 and 54 shares of common stock were outstanding at September 30, 2016 and 2015, respectively, but were not included in the above computation of diluted income per share given their exercise prices as they would not be dilutive upon issuance.