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

3 Months Ended

Jun. 30, 2013

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. Common shares outstanding include share equivalent units, which are contingently issuable shares. 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 June 30,
	2013		2012
Basic income per share
Numerator:
Net income	$	3,808	$	1,390

Denominator:
Weighted common shares outstanding		10,014		9,960
Share equivalent units (“SEUs”)		43		42

Weighted average common shares and SEUs		10,057		10,002

Basic income per share	$	0.38	$	0.14

Diluted income per share
Numerator:
Net income	$	3,808	$	1,390
Denominator:
Weighted average shares and SEUs outstanding		10,057		10,002
Stock options outstanding		29		26

Weighted average common and potential common shares outstanding		10,086		10,028

Diluted income per share	$	0.38	$	0.14

Options to purchase a total of 14 and 23 shares of common stock were outstanding at June 30, 2013 and 2012, respectively, but were not included in the above computation of diluted income per share given their exercise prices as they would be anti-dilutive upon issuance.

- Definition

The entire disclosure for earnings per share.

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