GRC International, Inc.
Statement of Computation of Earnings Per Share
(in thousands, except for per share amounts)
QTR ENDING YTD ENDING
3/31/99 3/31/98 3/31/99 3/31/98
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BASIC
Weighted Average Number of Shares of Common
Stock Outstanding 10,238 9,803 10,225 9,737
Income (Loss) from Continuing Operations 1,290 3,548 7,420 6,711
Income (Loss) from Discontinued Operations 26 --- 220 758
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Net Income (Loss) 1,316 3,548 7,640 7,469
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Per Share Amount:
Income (Loss) from Continuing Operations 0.13 0.36 0.73 0.68
Income (Loss) from Discontinued Operations --- --- 0.02 0.08
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Net Income (Loss) 0.13 0.36 0.75 0.76
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FULLY DILUTED
Weighted Average Number of Shares of Common
Stock Outstanding 10,238 9,803 10,225 9,737
Net Effect of Dilutive Stock Options Based on the Treasury
Stock Method Using Average Market Price 293 138 244 138
Net Effect of Convertible Debenture Based on the
if Converted Method --- 325 --- 385
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Weighted Average Shares Outstanding 10,531 10,266 10,468 10,260
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Income (Loss) from Continuing Operations 1,290 3,548 7,420 6,711
Interest and Amortization on Convertible Debenture --- 47 --- 213
Adjusted Income (Loss) from Continuing Operations 1,290 2,595 7,420 6,924
Income (Loss) from Discontinuing Operations ---
26 220 758
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Adjusted Net Income (Loss) 1,316 3,595 7,640 7,682
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Per Share Amount:
Adjusted Income (Loss) from Continuing Operations 0.12 0.35 0.71 0.68
Income (Loss) from Discontinuing Operations --- --- 0.02 0.07
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Adjusted Net Income (Loss) 0.12 0.35 0.73 0.75
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