The Morgan Group, Inc. and Subsidiaries
Exhibit 11 - Statement re: Computation of Per Share Earnings
(Unaudited)
Three Months Ended Six Months Ended
June 30 June 30,
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1996 1995 1995 1996
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Primary
Average shares outstanding 2,566,665 2,566,665 2,566,665 2,566,665
Exercise of warrants 88,888 88,888 88,888 88,888
Redemption of shares of
series A preferred stock 150,000 - - - 150,000 - - -
Treasury stock repurchased (97,425) (20,280) (127,596) (11,773)
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Total 2,708,128 2,635,273 2,677,957 2,643,780
Fully Diluted
Net effect of dilutive warrants,
based upon the treasury
stock method using the average
stock prices - - - 8,507 - - - - - -
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Total 2,708,128 2,643,780 2,677,957 2,643,780
Net Income $ 417 $ 764 $ 426 $ 1,227
Series A Redeemable
Preferred stock dividends - - - $ 62 - - - $ 122
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Net Income $ 417 $ 702 $ 426 $ 1,105
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Primary earnings per share $ .15 $ .27 $ .16 $ .42
Fully diluted earnings per share $ .15 .27 $ .16 $ .42