EXHIBIT 11 BAIRNCO CORPORATION CALCULATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE FOR THE QUARTERS ENDED MARCH 29, 1997 AND MARCH 30, 1996 (Unaudited) 1997 1996 PRIMARY EARNINGS PER SHARE: Net income $ 2,173,000 $ 2,109,000 Average common shares outstanding 9,393,000 9,948,000 Common shares issuable in respect to common	stock equivalents, with a dilutive effect 142,000 121,000 Total common and common equivalent shares 9,535,000 10,069,000 Primary Earnings Per Common Share $ 0.23 $ 0.21 FULLY DILUTED EARNINGS PER SHARE: Net income $ 2,173,000 $ 2,109,000 Total common and common equivalent shares 9,535,000 10,069,000 Additional common shares assuming full dilution -- -- Total common shares assuming full dilution 9,535,000 10,069,000 Fully Diluted Earnings Per Common Share $ 0.23 $ 0.21 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.