Crawford United (CRAWA) 10-Q 2011 Q1 Quarterly report

FORM 10-Q

EXHIBIT 11

HICKOK INCORPORATED
CONSOLIDATED STATEMENT OF COMPUTATION OF EARNINGS
PER COMMON SHARE AND COMMON SHARE EQUIVALENTS

Three Months Ended
December 31,
2010	2009

NET INCOME Net income (loss) applicable to common shares for basic earnings per share	$<317,982>	$64,709
Net income (loss) applicable to common shares for diluted earnings per share	$<317,982>	$64,709
SHARES OUTSTANDING Weighted average shares for basic earnings per share	1,248,095	1,248,095
Net effect of dilutive stock options - based on the treasury stock method using year-end market price, if higher than average market price	*	16,635
Total shares for diluted earnings per share	1,248,095	1,264,730
Basic Earnings Per Common Share	$<.25>	$.05
Diluted Earnings Per Common Share	$<.25>	$.05

*  Net effect of stock options was antidilutive for the period.