CONTROL DEVICES, INC CALCULATION OF EARNINGS PER SHARE Exhibit 11 (Amounts in thousands, except per share amounts) Three Months Ended Three Months Ended Primary: March 31, 1997 March 31, 1996 __________________ _________________ Net income applicable to common shareholders $1,536 $ 861 Weighted average number of Common Shares outstanding: 4,963 2,564 Weighted average number of common shares equivalents options 114 - ------------------ ----------------- Weighted average number of common shares and equivalents options 5,077 2,564 ================== ================= Earnings per share - Primary $ 0.30 $ 0.34 Fully diluted: Net income applicable to common shareholders $1,536 $ 861 Weighted average number of common shares and equivalents options 5,077 2,564 Additonal common shares issuable assuming full dilution 5 - ------------------ ----------------- Weighted average number of common shares and equivalents options assuming full dilution 5,082 2,564 ================== ================= Earnings per share - Fully diluted $ 0.30 $ 0.34