Exhibit 11 LCA-VISION INC. Computation of Per Share Earnings (Loss) For the Three and Six Months Ended June 30, 1996 and 1995 For the Three For the Six Months Ended Months Ended June 30, June 30, 1996 1995 1996 1995 Primary Earnings: Net income (loss) $ (952,561) $ 187,709 $(1,476,673) $ 412,130 Pro forma income tax expense 74,081 156,609 ___________ ________ ____________ _________ Proforma net income (loss) $ (952,561) $ 113,628 $(1,476,673) $ 255,521 ____________ ________ _____________ _________ Shares: Weighted average number of common shares outstanding 19,617,821 1,000,000 19,617,821 1,000,000 Additional shares assuming exercise of stock options (a) (a) ---------- --------- ------------- ---------- Average common shares and equivalents, as adjusted 19,617,821 1,000,000 19,617,821 1,000,000 ----------- --------- ------------- ------------ Earnings (loss) per share $ (0.06) $ 0.11 $ (0.07) $ 0.25 <FN> (a) Net loss per share is based on outstanding common shares. Assuming exercise of options would be anti-dilutive since an increase in the number of shares assumed to be outstanding would reduce the amount of the loss per share. </FN>