GRC International, Inc.
Statement of Computation of Earnings Per Share
(in thousands, except for per share amounts)
QTR ENDING YTD ENDING
12/31/99 12/31/98 12/31/99 12/31/98
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BASIC
Weighted Average Number of Shares of Common
Stock Outstanding 12,377 10,222 11,668 10,218
Income from Continuing Operations 1,644 3,100 4,002 6,130
Income from Discontinued Operations - 140 - 194
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Net Income 1,644 3,240 4,002 6,324
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Per Share Amount:
Income from Continuing Operations 0.13 0.31 0.34 0.60
Income from Discontinued Operations - 0.01 - 0.02
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Net Income 0.13 0.32 0.34 0.62
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DILUTED
Weighted Average Number of Shares of Common
Stock Outstanding 12,377 10,222 11,668 10,218
Net Effect of Dilutive Stock Options
Based on the Treasury Stock Method
Using Average Market Price 598 189 513 220
Net Effect of Convertible Debenture
Based on the
if Converted Method (ONLY IF DILUTIVE) - - - -
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Weighted Average Shares Outstanding 12,974 10,411 12,181 10,438
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Income from Continuing Operations 1,644 3,100 4,002 6,130
Interest and Amortization on
Convertible Debenture (ONLY IF DILUTIVE) - - - -
Adjusted Income from Continuing Operations 1,644 3,100 4,002 6,130
Income from Discontinuing Operations - 140 - 194
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Adjusted Net Income 1,644 3,240 4,002 6,324
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Per Share Amount:
Adjusted Income from Continuing Operations 0.13 0.30 0.33 0.59
Income from Discontinuing Operations - 0.01 - 0.02
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Adjusted Net Income 0.13 0.31 0.33 0.61
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