IFR SYSTEMS, INC.
Exhibit (11) - Statement Re: Computation of Earnings Per Share
1996 1995 1994
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(000'S OMITTED, EXCEPT PER SHARE DATA)
PRIMARY:
Average shares outstanding 5,496 5,314 5,237
Net effect of dilutive stock
options-based on the treasury
stock method using average
market price 155 142 56
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Totals 5,651 5,456 5,293
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Net Income $ 4,761 $ 2,251 $ 987
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Per Share Amount $ 0.84 $ 0.41 $ 0.19
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FULLY DILUTED:
Average shares outstanding 5,496 5,314 5,237
Net effect of dilutive stock
options-based on the treasury
stock method using the period-
end market price, if greater
than average market price 177 212 56
Assumed conversion of 10%
convertible notes 13 119 153
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Totals 5,686 5,645 5,446
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Net Income $ 4,761 $ 2,251 $ 987
Add 10% convertible note interest,
net of federal income tax effect 7 58 81
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Totals $ 4,768 $ 2,309 $ 1,068
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Per Share Amount $ 0.84 $ 0.41 $ 0.20
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