EXHIBIT 11.1 BAIRNCO CORPORATION CALCULATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE FOR THE QUARTERS ENDED SEPTEMBER 28, 1996 AND SEPTEMBER 30, 1995 (Unaudited) 1996 1995 PRIMARY EARNINGS PER SHARE: Net income $ 1,938,000 $ 1,893,000 Average common shares outstanding 9,735,000 10,469,253 Common shares issuable in respect to common stock equivalents, with a dilutive effect 94,000 5,114 Total common and common equivalent shares 9,829,000 10,474,367 Primary Earnings Per Common Share $ 0.20 $ 0.18 FULLY DILUTED EARNINGS PER SHARE: Net income $ 1,938,000 $ 1,893,000 Total common and common equivalent shares 9,829,000 10,474,367 Additional common shares assuming full dilution -- 607 Total common shares assuming full dilution 9,829,000 10,474,974 Fully Diluted Earnings Per Common Share $ 0.20 $ 0.18 Earnings per share are based on the average number of shares outstanding during each period. Primary earnings per share include all common stock equivalents. Fully diluted earnings per share include all common stock equivalents plus the additional common shares issuable assuming full dilution. EXHIBIT 11.2 BAIRNCO CORPORATION CALCULATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE FOR THE NINE MONTHS ENDED SEPTEMBER 28, 1996 AND SEPTEMBER 30, 1995 (Unaudited) 1996 1995 PRIMARY EARNINGS PER SHARE: Net income $ 6,246,000 $ 5,855,000 Average common shares outstanding 9,839,000 10,489,924 Common shares issuable in respect to common stock equivalents, with a dilutive effect 116,000 2,464 Total common and common equivalent shares 9,955,000 10,492,388 Primary Earnings Per Common Share $ 0.63 $ 0.56 FULLY DILUTED EARNINGS PER SHARE: Net income $ 6,246,000 $ 5,855,000 Total common and common equivalent shares 9,955,000 10,492,388 Additional common shares assuming full dilution -- 2,568 Total common shares assuming full dilution 9,955,000 10,494,956 Fully Diluted Earnings Per Common Share $ 0.63 $ 0.56 Earnings per share are based on the average number of shares outstanding during each period. Primary earnings per share include all common stock equivalents. Fully diluted earnings per share include all common stock equivalents plus the additional common shares issuable assuming full dilution.