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, 2015

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 September 30,				Six Months Ended September 30,
	2015		2014		2015		2014
Basic income per share
Numerator:
Net income	$	1,976	$	4,186	$	4,337	$	6,578

Denominator:
Weighted average common shares outstanding		10,078		10,126		10,116		10,116


Basic income per share	$	.20	$	.41	$	.43	$	.65


Diluted income per share
Numerator:
Net income	$	1,976	$	4,186	$	4,337	$	6,578

Denominator:
Weighted average common shares outstanding		10,078		10,126		10,116		10,116
Stock options outstanding		5		22		9		22

Weighted average common and potential common shares outstanding		10,083		10,148		10,125		10,138


Diluted income per share	$	.20	$	.41	$	.43	$	.65

Options to purchase a total of 54 and 2 shares of common stock were outstanding at September 30, 2015 and 2014, 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.