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

EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 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				Nine Months Ended
	Sep 30, 2014		Sep 30, 2013		Sep 30, 2014		Sep 30, 2013
Basic:
Numerator:
Net Income	$	7,586	$	3,276	$	15,431	$	10,342
Less: Distributed and undistributed income (unvested restricted stock)		79		29		157		92

Net income attributable to common shareholders	$	7,507	$	3,247	$	15,274	$	10,250

Denominator:
Denominator for basic earnings per share-weighted-average shares		14,506		14,462		14,501		14,458

Basic earnings per share—common shareholders	$	0.52	$	0.23	$	1.05	$	0.72

Diluted:
Numerator:
Net Income	$	7,586	$	3,276	$	15,431	$	10,342
Less: Distributed and undistributed income (unvested restricted stock)		79		29		157		92

Net income attributable to common shareholders	$	7,507	$	3,247	$	15,274	$	10,250

Denominator:
Denominator for basic earnings per share-weighted-average shares		14,506		14,462		14,501		14,458
Effect of dilutive securities:
Employee stock options		—		6		—		5

Denominator for dilutive earnings per share-weighted-average shares		14,506		14,468		14,501		14,463

Diluted earnings per share—common shareholders	$	0.52	$	0.23	$	1.05	$	0.72