Graham Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

(Loss) Income Per Share

(Loss) Income Per Share

9 Months Ended

Dec. 31, 2017

NOTE 7 – (LOSS) INCOME PER SHARE:

Basic (loss) income per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding for the period. Diluted (loss) income per share is calculated by dividing net (loss) 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 (loss) income per share is presented below:

	Three Months Ended					Nine Months Ended
	December 31,					December 31,
	2017			2016		2017			2016
Basic (loss) income per share
Numerator:
Net (loss) income	$	(11,622	)	$	1,840	$	(10,677	)	$	3,222
Denominator:
Weighted average common shares outstanding		9,768			9,727		9,762			9,709
Basic (loss) income per share	$	(1.19	)	$	.19	$	(1.09	)	$	.33
Diluted income per share
Numerator:
Net (loss) income	$	(11,622	)	$	1,840	$	(10,677	)	$	3,222
Denominator:
Weighted average common shares outstanding		9,768			9,727		9,762			9,709
Stock options outstanding		—			6		—			5
Weighted average common and potential common shares outstanding		9,768			9,733		9,762			9,714
Diluted (loss) income per share	$	(1.19	)	$	.19	$	(1.09	)	$	.33

None of the options to purchase shares of common stock which totaled 69 were included in the computation of diluted loss per share for the three and nine months ended December 31, 2017 as the effect would be anti-dilutive due to the net loss in the periods. Options to purchase a total of 16 shares of common stock were outstanding at December 31, 2016 but were not included in the above computation of diluted income per share in the three and nine-month periods ended December 31, 2016 given their exercise prices as they would not be dilutive upon issuance.