EXHIBIT - 11
Computation of Per share Earnings
Exhibit 11
The Morgan Group, Inc. and Subsidiaries
Exhibit 11 - Statement re: Computation of Per Share Earnings
(Unaudited)
Three Months Ended
March 31,
1997 1996
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Primary
Average shares outstanding 2,566,665 2,566,665
Exercise of warrants 88,888 88,888
Net effect of warrants which become
exercisable beginning on August 3, 1993;
price based upon the treasury stock method
using the average stock prices - - - - - - - -
Redemption of shares of series A preferred stock 150,000 150,000
Treasury stock repurchased (122,975) (118,943)
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Total 2,682,578 2,686,610
Fully Diluted
Neteffect of dilutive warrants, which will
become exercisable on August 4,
1995, based upon the treasury stock method
using the average stock prices - - - - - - - -
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Total 2,682,578 2,686,610
Net income 266 $9
Series A Redeemable
Preferred Stock dividends - - - - - - - -
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Net income $266 $9
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Primary earnings per share $.10 $- - - -
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Fully diluted earnings per share $.10 $- - - -
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