IFR SYSTEMS, INC. EXHIBIT (11.0) - STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE THREE MONTHS ENDED SEPTEMBER 30, 1995 1994 -------- -------- (000's OMITTED, EXCEPT PER SHARE DATA) PRIMARY: Average shares outstanding 5,490 5,257 Net effect of dilutive stock options-based on the treasury stock method using average market price 153 (41) -------- --------- Totals 5,643 5,216 -------- --------- -------- --------- Net Income $ 408 $ 184 -------- --------- -------- --------- Per Share Amount $ 0.07 $ 0.04 -------- --------- -------- --------- FULLY DILUTED: Average shares outstanding 5,490 5,257 Net effect of dilutive stock options-based on the treasury stock method using the period- end market price, if greater than average market price 153 17 Assumed conversion of 10% convertible notes 16 153 -------- --------- Totals 5,659 5,427 -------- --------- -------- --------- Net Income $ 408 $ 184 Add 10% convertible note interest, net of federal income tax effect 2 19 -------- --------- Totals $ 410 $ 203 -------- --------- -------- --------- Per Share Amount $ 0.07 $ 0.04 -------- --------- -------- --------- Note: Average shares outstanding used for Net Income Per Share included in the Company's financial statements do not reflect the effect of the stock options granted or convertible notes since their aggregate effect is less than 3%.