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

9 Months Ended

Dec. 31, 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				Nine Months Ended
	December 31,				December 31,
	2016		2015		2016		2015
Basic income per share
Numerator:
Net income	$	1,840	$	1,274	$	3,222	$	5,611
Denominator:
Weighted average common shares outstanding		9,727		9,922		9,709		10,051
Basic income per share	$	.19	$	.13	$	.33	$	.56
Diluted income per share
Numerator:
Net income	$	1,840	$	1,274	$	3,222	$	5,611
Denominator:
Weighted average common shares outstanding		9,727		9,922		9,709		10,051
Stock options outstanding		6		5		5		8
Weighted average common and potential common shares outstanding		9,733		9,927		9,714		10,059
Diluted income per share	$	.19	$	.13	$	.33	$	.56

Options to purchase a total of 16 and 54 shares of common stock were outstanding at December 31, 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.