Matria Healthcare 10-Q 2004 Q1 Quarterly report

EXHIBIT 11

Matria Healthcare, Inc. and Subsidiaries

Computation of Earnings per Share

(Amounts in thousands, except per share amounts)

(Unaudited)

	Three Months Ended				Nine Months Ended
	September 30				September 30,
		2003	2002			2003	2002
Net earnings (loss):
Continuing operations	$	2,376	(565	)		5,240	332
Discontinued operations		--	(682	)		--	(682	)
	$	2,376	(1,247	)		5,240	(350	)
Basic:
Weighted average number of shares outstanding		10,158	9,161			10,118	9,062
Net earnings (loss) per share
Continuing operations	$	0.23	(0.06	)		0.52	0.04
Discontinued operations		--	(0.08	)		--	(0.08	)
	$	0.23	(0.14	)		0.52	(0.04	)
Diluted:
Weighted average number of shares outstanding		10,158	9,161			10,118	9,062
Shares issuable from assumed exercise of options		349	--			183	--
		10,507	9,161			10,301	9,062
Net earnings (loss) per share
Continuing operations	$	0.23	(0.06	)		0.51	0.04
Discontinued operations		--	(0.08	)		--	(0.08	)
	$	0.23	(0.14	)		0.51	(0.04	)