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

3 Months Ended

Jun. 30, 2016

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 June 30,
	2016		2015
Basic income per share
Numerator:
Net income	$	85	$	2,361
Denominator:
Weighted average common shares outstanding		9,675		10,148
Basic income per share	$	.01	$	.23
Diluted income per share
Numerator:
Net income	$	85	$	2,361
Denominator:
Weighted average common shares outstanding		9,675		10,148
Stock options outstanding		5		13
Weighted average common and potential common shares outstanding		9,680		10,161
Diluted income per share	$	.01	$	.23

Options to purchase a total of 54 and 12 shares of common stock were outstanding at June 30, 2016 and 2015, 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.