Exhibit 11 Ballantyne of Omaha, Inc. and Subsidiaries Computation of Earnings Per share of Common Stock Years Ended December 31, 1999, 1998 and 1997 1999 1998 1997 BASIC EARNINGS Earnings applicable to common stock $ 7,758,949 $ 8,343,734 $ 7,709,339 Weighted average common shares outstanding* $12,590,234 $14,098,491 $13,854,304 ----------- ----------- ----------- Basic earnings per share 0.62 $ 0.59 $ 0.56 =========== =========== =========== DILUTED EARNINGS Earnings applicable to common stock $ 7,758,949 8,343,734 7,709,339 Weighted average common shares outstanding* 12,590,234 14,098,491 13,854,304 Assuming conversion of options outstanding* 559,635 650,859 976,119 ----------- ----------- ----------- Weighted average common shares outstanding, as adjusted* 13,149,869 14,749,350 14,830,423 ----------- ----------- ----------- Diluted earning per share $ 0.59 $ 0.57 $ 0.52 =========== =========== =========== *Adjusted for all stock splits and stock dividends -1-