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

9 Months Ended

Dec. 31, 2018

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					Nine Months Ended
	December 31,					December 31,
	2018		2017			2018		2017
Basic income (loss) per share
Numerator:
Net income (loss)	$	95	$	(11,622	)	$	4,245	$	(10,677	)
Denominator:
Weighted average common shares outstanding		9,832		9,768			9,817		9,762
Basic income (loss) per share	$	.01	$	(1.19	)	$	.43	$	(1.09	)
Diluted income (loss) per share
Numerator:
Net income (loss)	$	95	$	(11,622	)	$	4,245	$	(10,677	)
Denominator:
Weighted average common shares outstanding		9,832		9,768			9,817		9,762
Stock options outstanding		13		—			15		—
Weighted average common and potential common shares outstanding		9,845		9,768			9,832		9,762
Diluted income (loss) per share	$	.01	$	(1.19	)	$	.43	$	(1.09	)

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.