EXHIBIT 11
BAIRNCO CORPORATION AND SUBSIDIARIES
CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE
FOR THE YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002
2004 | 2003 | 2002 | |
BASIC EARNINGS PER COMMON SHARE: | |||
Net Income | $ 30,829,000 | $ 2,649,000 | $ 1,361,000 |
Weighted-average common shares outstanding | 7,362,000 | 7,338,000 | 7,332,000 |
Basic Earnings Per Common Share | $ 4.19 | $ 0.36 | $ 0.19 |
DILUTED EARNINGS PER COMMON SHARE: | |||
Net Income | $ 30,829,000 | $ 2,649,000 | $ 1,361,000 |
Weighted-average common shares outstanding | 7,362,000 | 7,338,000 | 7,332,000 |
Dilutive Effect of Restricted Stock | 64,000 | 32,000 | -- |
Common shares issuable in respect to options issued to | |||
employees with a dilutive effect | 143,000 | 21,000 | 5,000 |
Total common shares assuming full dilution | 7,569,000 | 7,391,000 | 7,337,000 |
Diluted Earnings Per Common Share | $ 4.07 | $ 0.36 | $ 0.19 |
Basic earnings per common share were computed by dividing net income by the weighted-average number of shares of common stock outstanding during each year. Diluted earnings per common share includes the effect of all dilutive stock options and restricted stock shares.