Gulf Island Fabrication, Inc. Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2012

NOTE 5 – EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share data):


	Three Months Ended
	March 31, 2012		March 31, 2011
Basic:
Numerator:
Net Income (loss)	$	6,779	$	(6,964	)
Less: Net income attributable to participating securities (unvested restricted stock)		77		—

Net income (loss) attributable to common shareholders	$	6,702	$	(6,964	)

Denominator:
Denominator for basic earnings (loss) per share-weighted-average shares		14,381		14,344

Basic earnings (loss) per share—common shareholders	$	0.47	$	(0.49	)

Diluted:
Numerator:
Net Income (loss)	$	6,779	$	(6,964	)
Less: Net income attributable to participating securities (unvested restricted stock)		77		—

Net income (loss) attributable to common shareholders	$	6,702	$	(6,964	)

Denominator:
Denominator for basic earnings per share-weighted-average shares		14,381		14,344
Effect of dilutive securities:
Employee stock options		27		—

Denominator for dilutive earnings (loss) per share-weighted-average shares		14,408		14,344

Diluted earnings (loss) per share—common shareholders	$	0.47	$	(0.49	)

The entire disclosure for earnings per share.