EXHIBIT 11.1 BAIRNCO CORPORATION CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE FOR THE QUARTERS ENDED JULY 4, 1998 AND JUNE 28, 1997 (Unaudited) 1998 1997 BASIC EARNINGS PER COMMON SHARE: Net income $ 1,588,000 $ 2,347,000 Average common shares outstanding 8,746,000 9,198,000 Basic Earnings Per Common Share $ 0.18 $ 0.26 DILUTED EARNINGS PER COMMON SHARE: Net income $ 1,588,000 $ 2,347,000 Average common shares outstanding 8,746,000 9,198,000 Common shares issuable in respect to options issued to employees with a dilutive effect 252,000 142,000 Total diluted common shares outstanding 8,998,000 9,340,000 Diluted Earnings Per Common Share $ 0.18 $ 0.25 Basic earnings per common share were computed by dividing net income by the weighted average number of common shares outstanding during the quarter. Diluted earnings per common share include the effect of all dilutive stock options.