Espey Mfg. & Electronics (ESP) 10-K 2016 FY Annual report

EXHIBIT 11.1

ESPEY MFG. & ELECTRONICS CORP.

Computation of per Share Net Income

Five years ended June 30,

	2016		2015		2014		2013		2012
Computation of net income
per share:
BASIC
Weighted average
number of primary
shares outstanding		2,285,686		2,271,426		2,245,222		2,206,937		2,172,589
Net income	$	3,175,801	$	3,183,127	$	1,167,885	$	5,562,425	$	4,390,268
Per share-basic	$	1.39	$	1.40	$	0.52	$	2.52	$	2.02
DILUTED
Weighted average
number of primary
shares outstanding		2,302,034		2,290,542		2,285,535		2,242,648		2,203,060
Net effect of
dilutive stock
options based on
treasury stock
method		16,348		19,116		40,313		35,711		30,471
Net income	$	3,175,801	$	3,183,127	$	1,167,885	$	5,562,425	$	4,390,268
Per share-diluted	$	1.38	$	1.39	$	0.51	$	2.48	$	1.99

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