IFR SYSTEMS, INC.
EXHIBIT (11.0) - STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
1997 1996 1995
-------------- ------------- -------------
(000'S OMITTED, EXCEPT PER SHARE DATA)
PRIMARY:
Average shares outstanding 5,420 5,496 5,314
Net effect of dilutive stock
options-based on the treasury
stock method using average
market price 194 155 142
-------------- ------------- -------------
Totals 5,614 5,651 5,456
-------------- ------------- -------------
Net Income $ 6,646 $ 4,761 $ 2,251
-------------- ------------- -------------
Per Share Amount $ 1.18 $ 0.84 $ 0.41
-------------- ------------- -------------
FULLY DILUTED:
Average shares outstanding 5,420 5,496 5,314
Net effect of dilutive stock
options-based on the treasury
stock method using the period-
end market price, if greater
than average market price 250 178 212
Assumed conversion of 10%
convertible notes 3 13 119
-------------- ------------- -------------
Totals 5,673 5,687 5,645
-------------- ------------- -------------
-------------- ------------- -------------
Net Income $ 6,646 $ 4,761 $ 2,251
Add 10% convertible note interest,
net of federal income tax effect - 7 58
-------------- ------------- -------------
Totals $ 6,646 $ 4,768 $ 2,309
-------------- ------------- -------------
-------------- ------------- -------------
Per Share Amount $ 1.17 $ 0.84 $ 0.41
-------------- ------------- -------------
-------------- ------------- -------------