GRC International, Inc. Statement of Computation of Earnings Per Share (in thousands except for per share amounts) Exhibit 11 QTR ENDING YTD ENDING BASIC 12/31/97 12/31/96 12/31/97 12/31/96 Weighted Average Number of Shares of Common Stock Outstanding 9,777 9,340 9,704 9,321 Income (Loss) from Continuing Operations 2,027 759 3,163 1,615 Income (Loss) from Discontinuing Operations 468 (19,863) 758 (23,329) ==================== ==================== Net Income (Loss) 2,495 (19,104) 3,921 (21,714) ==================== ==================== Per Share Amount: Income (Loss) from Continuing Operations 0.21 0.08 0.32 0.17 Income (Loss) from Discontinuing Operations 0.05 (2.13) 0.08 (2.50) ==================== ==================== Net Income (Loss) 0.26 (2.05) 0.40 (2.33) ==================== ==================== FULLY DILUTED Weighted Average Number of Shares of Common Stock Outstanding 9,777 9,340 9,704 9,321 Net Effect of Dilutive Stock Options Based on the Treasury Stock Method Using Average Market Price 137 87 130 124 Net Effect of Convertible Debenture Based on the if Converted Method --- n/a --- n/a -------------------- -------------------- Weighted Average Shares Outstanding 9,914 9,427 9,834 9,445 -------------------- -------------------- Income (Loss) from Continuing Operations 2027 759 3163 1615 Interest and Amortization on Convertible Debenture --- n/a --- n/a Adjusted Income (Loss) from Continuing Operations 2,027 759 3,163 1,615 Income (Loss) from Discontinuing Operations 468 (19,863) 758 (23,329) ==================== ==================== Adjusted Net Income (Loss) 2,495 (19,104) 3,921 (21,714) ==================== ==================== Per Share Amount: Adjusted Income (Loss) from Continuing Operations 0.20 0.08 0.32 0.17 Income (Loss) from Discontinuing Operations 0.05 (2.11) 0.08 (2.47) ==================== ==================== Adjusted Net Income (Loss) 0.25 (2.03) 0.40 (2.30) ==================== ====================