GRC International, Inc. Statement of Computation of Earnings Per Share (in thousands, except for per share amounts) QTR ENDING YTD ENDING 06/30/99 06/30/98 06/30/99 06/30/98 ------------------------- -------------------------- BASIC Weighted Average Number of Shares of Common Stock Outstanding 10,245 10,140 10,230 9,838 Income (Loss) from Continuing Operations 1,486 3,991 8,906 10,702 Income (Loss) from Discontinued Operations 5 0 225 758 ------------------------- -------------------------- Net Income (Loss) 1,491 3,991 9,131 11,460 ========================= ========================== Per Share Amount: Income (Loss) from Continuing Operations 0.15 0.39 0.87 1.09 Income (Loss) from Discontinued Operations 0 0 0.02 0.08 ------------------------- -------------------------- Net Income (Loss) 0.15 0.39 0.89 1.17 ========================= ========================== FULLY DILUTED Weighted Average Number of Shares of Common Stock Outstanding 10,245 10,140 10,230 9,838 Net Effect of Dilutive Stock Options Based on the Treasury Stock Method Using Average Market Price 349 245 268 146 Net Effect of Convertible Debenture Based on the if Converted Method (ONLY IF DILUTIVE) 0 0 0 270 ------------------------- ------------------------- Weighted Average Shares Outstanding 10,594 10,385 10,498 10,254 ========================= ========================== Income (Loss) from Continuing Operations 1,486 3,991 8,906 10,702 Interest and Amortization on 0 0 0 184 Convertible Debenture (ONLY IF DILUTIVE) Adjusted Income (Loss) from Continuing Operations 1,486 3,991 8,906 10,886 Income (Loss) from Discontinuing Operations 5 0 225 758 ------------------------- -------------------------- Adjusted Net Income (Loss) 1,491 3,991 9,131 11,644 ========================= ========================== Per Share Amount: Adjusted Income (Loss) from Continuing Operations 0.14 0.38 0.85 1.06 Income (Loss) from Discontinuing Operations 0 0 0.02 0.08 ------------------------- -------------------------- Adjusted Net Income (Loss) 0.14 0.38 0.87 1.14 ========================= ==========================