GRC International, Inc. Statement of Computation of Earnings Per Share (in thousands, except for per share amounts) QTR ENDING YTD ENDING 12/31/98 12/31/97 12/31/98 12/31/97 --------------------- ---------------------- BASIC Weighted Average Number of Shares of Common Stock Outstanding 10,222 9,777 10,218 9,704 Income (Loss) from Continuing Operations 3,100 2,027 6,130 3,163 Income (Loss) from Discontinued Operations 140 468 194 758 -------------------- ---------------------- Net Income (Loss) 3,240 2,495 6,324 3,921 ===================== ====================== Per Share Amount: Income (Loss) from Continuing Operations 0.31 0.21 0.60 0.32 Income (Loss) from Discontinued Operations 0.01 0.05 0.02 0.08 --------------------- ---------------------- Net Income (Loss) 0.32 0.26 0.62 0.40 ===================== ====================== FULLY DILUTED Weighted Average Number of Shares of Common Stock Outstanding 10,222 9,777 10,218 9,704 Net Effect of Dilutive Stock Options Based on the Treasury Stock Method Using Average Market Price 189 137 220 130 --------------------- ---------------------- Weighted Average Shares Outstanding 10,411 9,914 10,438 9,834 ===================== ====================== Income (Loss) from Continuing Operations 3,100 2,027 6,130 3,163 Income (Loss) from Discontinuing Operations 140 468 194 758 --------------------- ---------------------- Adjusted Net Income (Loss) 3,240 2,495 6,324 3,921 ===================== ====================== Per Share Amount: Adjusted Income (Loss) from Continuing Operations 0.30 0.20 0.59 0.32 Income (Loss) from Discontinuing Operations 0.01 0.05 0.02 0.08 --------------------- ---------------------- Adjusted Net Income (Loss) 0.31 0.25 0.61 0.40 ===================== ======================