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A.S.V., Inc. and Subsidiary
Exhibit 11 - Computation of Earnings per Share
Three Months Ended March 31,
2005 | 2004 | ||||||||
Basic | |||||||||
Earnings | |||||||||
Net earnings | $ | 5,542,975 | $ | 3,595,033 | |||||
Shares | |||||||||
Weighted average number of common | |||||||||
shares outstanding | 13,363,538 | 12,464,518 | |||||||
Earnings per common share | $ | .41 | $ | .29 | |||||
Diluted | |||||||||
Earnings | |||||||||
Net earnings | $ | 5,542,975 | $ | 3,595,033 | |||||
Shares | |||||||||
Weighted average number of common shares outstanding | 13,363,538 | 12,464,518 | |||||||
Assuming exercise of options and warrants reduced by the number of shares which could have been purchased with the proceeds from the exercise of such options and warrants | 457,359 | 1,242,088 | |||||||
Weighted average number of common and common equivalent shares outstanding | 13,820,897 | 13,706,606 | |||||||
Earnings per common share | $ | .40 | $ | .26 | |||||
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