(11)--STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
EDAC TECHNOLOGIES CORPORATION
Three Months Ended
March 31
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1995 1994
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Primary:
Average shares outstanding 3,595,539 3,566,205
Net effect of dilutive stock
options based on the
treasury stock method using
average market price 120,456 113,623
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TOTALS 3,715,995 3,679,828
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Net income $ 98,786 $ 133,646
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Net income per share $ 0.03 $ 0.04
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Fully diluted:
Average shares outstanding 3,595,539 3,566,205
Net effect of dilutive stock
options based on the
treasury stock method using
quarter end market price
if higher than average
market price 124,708 118,319
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TOTALS 3,720,247 3,684,524
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Net income $ 98,786 $ 133,646
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Net income per share $ 0.03 $ 0.04
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