EXHIBIT 11--COMPUTATIONS OF EARNINGS PER SHARE
GTECH HOLDINGS CORPORATION AND SUBSIDIARIES
Three Months Ended
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May 31, May 25,
1997 1996
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Primary: (1)
Net income ................................... $ 19,320,000 $ 18,203,000
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Weighted average common shares outstanding ... 42,078,000 43,086,000
Net effect of dilutive stock options--based on
the treasury stock method using the average
market price for the period ................. 323,000 341,000
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Totals ....................................... 42,401,000 43,427,000
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Earnings per common share .................... $ .46 $ .42
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Fully diluted: (1)
Net income ................................... $ 19,320,000 $ 18,203,000
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Weighted average common shares outstanding ... 42,078,000 43,086,000
Net effect of dilutive stock options--based on
the treasury stock method using the quarter-
end market price which is higher than the
average market price ........................ 375,000 432,000
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Totals ....................................... 42,453,000 43,518,000
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Earnings per common share .................... $ .46 $ .42
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(1) The primary and fully diluted earnings per share were not presented on the
face of the Consolidated Income Statements because fully diluted earnings
per share differed by less than three percent from earnings per share
calculated based on weighted average common shares.