Graham Corporation Annual report pursuant to Section 13 and 15(d)

Product Warranty Liability

12 Months Ended

Mar. 31, 2016

Note 5 – Product Warranty Liability:

The reconciliation of the changes in the product warranty liability is as follows:

	Year ended March 31,
	2016			2015
Balance at beginning of year	$	653		$	308
Expense for product warranties		336			930
Product warranty claims paid		(303	)		(585	)
Balance at end of year	$	686		$	653

The product warranty liability is included in the line item “Accrued expenses and other current liabilities” in the Consolidated Balance Sheets.