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, 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 September 30,					Six Months Ended September 30,
		2013		2012			2013		2012
Basic income per share

Numerator:
Net income		$	2,589	$	2,615		$	6,397	$	4,005


Denominator:
Weighted common shares outstanding			10,051		9,988			10,033		9,975
Share equivalent units (“SEUs”)			11		43			27		42

Weighted average common shares and SEUs			10,062		10,031			10,060		10,017


Basic income per share			$.26		$.26			$.64		$.40


Diluted income per share

Numerator:
Net income		$	2,589	$	2,615		$	6,397	$	4,005


Denominator:
Weighted average shares and SEUs outstanding			10,062		10,031			10,060		10,017
Stock options outstanding			42		23			35		24

Weighted average common and potential common shares outstanding			10,104		10,054			10,095		10,041


Diluted income per share			$.26		$.26			$.63		$.40

Options to purchase a total of 2 and 71 shares of common stock were outstanding at September 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.

+ References + Details