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ITEM 6(A)
EXHIBIT 11
SMITH ENVIRONMENTAL TECHNOLOGIES CORPORATION
EARNINGS PER SHARE
PERIOD ENDING AUGUST 31, 1995
SIX MONTHS ENDING
AUGUST 31, AUGUST 31,
1995 1994
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PRIMARY
Weighted Average Shares of Common
Stock Outstanding 5,830,538 5,707,033
Net Effect of dilutive stock options and stock awards -
based on the treasury stock method using average
market price 149,962 66,988
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Total Weighted Average Number of Common and
Common Equivalent Shares Outstanding 5,980,500 5,774,021
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Income Applicable to Common Stock $867,000 $1,384,000
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Earnings Per Common and Common Stock Equivalent $ .14 $ .24
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FULLY DILUTED
Weighted Average Shares of Common
Stock Outstanding 5,830,538 5,707,033
Common Stock Issued Upon Conversion of
Convertible Subordinated Notes 3,048,780 --
Net Effect of dilutive stock options and stock awards -
based on the treasury stock method using the period
ending market price, if higher than average market price 149,962 105,120
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Total Weighted Average number of Common and
Common Equivalent Shares Outstanding 9,029,280 5,812,153
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Income Applicable to Common Stock $867,000 $1,384,000
Interest on Convertible Subordinated Notes,
Net of tax 400,000 --
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Income Applicable to Common Stock on a Fully Diluted Basis 1,267,000 1,384,000
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Earnings Per Common and Common Stock Equivalent $0.14 $0.24
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