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, 2017

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				Six Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Basic income per share
Numerator:
Net income	$	10	$	1,297	$	945	$	1,382
Denominator:
Weighted average common shares outstanding		9,769		9,724		9,759		9,699
Basic income per share	$	—	$	.13	$	.10	$	.14
Diluted income per share
Numerator:
Net income	$	10	$	1,297	$	945	$	1,382
Denominator:
Weighted average common shares outstanding		9,769		9,724		9,759		9,699
Stock options outstanding		6		4		8		5
Weighted average common and potential common shares outstanding		9,775		9,728		9,767		9,704
Diluted income per share	$	—	$	.13	$	.10	$	.14

Options to purchase a total of 16 shares of common stock were outstanding at each of September 30, 2017 and 2016, 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.