FIRST ALBANY COMPANIES INC. (Exhibit 11)
COMPUTATION OF PER SHARE EARNINGS
Three Months Ended Nine Months Ended
September 30, September 25, September 30, September 25,
1999 1998 1999 1998
(In thousands, except
per share amounts)
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Basic:
Net (loss) income $ (430) $ 1,148 $ (410) $3,642
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Weighted average number
of shares outstanding
during the period 7,295 7,184 7,283 7,168
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Net (loss) income per
share $(0.06) $ 0.16 $(0.06) $ 0.51
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Dilutive:
Net (loss) income $ (430) $1,148 $ (410) $3,642
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Weighted average number
of shares outstanding
during the period 7,295 7,184 7,283 7,168
Effective of dilutive common
equivalent shares 676 749
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Weighted average shares and
common equivalent shares
outstanding 7,295 7,860 7,283 7,917
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Net (loss) income per
share $(0.06) $ 0.15 $(0.06) $ 0.46
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**Per share figures and shares outstanding have been restated for all
dividends declared.