ASV 10-Q 2006 Q3 Quarterly report

Exhibit 11

A.S.V., Inc. and Subsidiary
Computation of Earnings per Share
(In thousands, except share data)

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2006		2005		2006		2005
Basic
Earnings
Net earnings	$	5,078	$	8,001	$	19,615	$	19,728
Shares
Weighted average number of common shares outstanding		26,669,269		26,849,654		26,918,270		26,787,977
Basic earnings per common share	$	.19	$	.30	$	.73	$	.74
Diluted
Earnings
Net earnings	$	5,078	$	8,001	$	19,615	$	19,728
Shares
Weighted average number of common shares outstanding		26,669,269		26,849,654		26,918,270		26,787,977
Assuming exercise of options reduced by the number of shares which could have been purchased with the proceeds from the exercise of such options		202,402		950,645		506,035		896,177
Weighted average number of common and common equivalent shares outstanding		26,871,671		27,800,299		27,424,305		27,684,154
Diluted earnings per common share	$	.19	$	.29	$	.72	$	.71