iBio Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Common Share

Earnings (Loss) Per Common Share

3 Months Ended

Sep. 30, 2013

9. Earnings (Loss) Per Common Share

Basic earnings (loss) per common share is computed by dividing the net income (loss) allocated to common stockholders by the weighted-average number of shares of common stock outstanding during the period. For purposes of calculating diluted earnings per common share, the denominator includes both the weighted-average number of shares of common stock outstanding during the period and the number of common stock equivalents if the inclusion of such common stock equivalents is dilutive. Dilutive common stock equivalents potentially include stock options and warrants using the treasury stock method. The following table summarizes the components of the earnings (loss) per common share calculation (in thousands, except per share amounts):

	Three Months Ended September 30,
	2013			2012
Earnings (Loss) Per Common Share – Basic:
Net income (loss)	$	379		$	(2,051)

Weighted-average common shares outstanding		56,692			47,767

Basic earnings (loss) per share	$	0.01		$	(0.04)

Earnings (Loss) Per Common Share – Diluted:
Net income (loss)	$	379		$	(2,051)

Weighted-average common shares outstanding		56,692			47,767
Weighted-average incremental shares related to assumed exercise of stock options and warrants using the treasury stock method		3,934	⁽¹⁾		-	⁽²⁾
Weighted-average common shares outstanding and common share equivalents		60,626			47,767

Diluted earnings (loss) per share	$	0.01		$	(0.04)

(1) As of September 30, 2013, shares issuable which could potentially dilute future earnings included approximately 8.1 million stock options and 20.4 million warrants.

(2) For the three months ended September 30, 2012, the Company incurred a net loss which cannot be diluted, therefore basic and diluted loss per common share are the same. As of September 30, 2012, shares issuable which could potentially dilute future earnings included approximately 6.6 million stock options and 21.0 million warrants.