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

EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2014

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


	Three Months Ended				Six Months Ended
	June 30, 2014		June 30, 2013		June 30, 2014		June 30, 2013
Basic:
Numerator:
Net Income	$	4,310	$	4,279	$	7,845	$	7,066
Less: Distributed and undistributed income (unvested restricted stock)		44		38		80		61

Net income attributable to common shareholders	$	4,266	$	4,241	$	7,765	$	7,005

Denominator:
Denominator for basic earnings per share-weighted-average shares		14,500		14,457		14,498		14,456

Basic earnings per share—common shareholders	$	0.30	$	0.30	$	0.54	$	0.49

Diluted:
Numerator:
Net Income	$	4,310	$	4,279	$	7,845	$	7,066
Less: Distributed and undistributed income (unvested restricted stock)		44		38		80		61

Net income attributable to common shareholders	$	4,266	$	4,241	$	7,765	$	7,005

Denominator:
Denominator for basic earnings per share-weighted-average shares		14,500		14,457		14,498		14,456
Effect of dilutive securities:
Employee stock options		—		3		—		3

Denominator for dilutive earnings per share-weighted-average shares		14,500		14,460		14,498		14,459

Diluted earnings per share—common shareholders	$	0.30	$	0.30	$	0.54	$	0.49