(11)--STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
EDAC TECHNOLOGIES CORPORATION
Three Months Ended
March 31
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1996 1995
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Primary:
Average shares outstanding 3,653,540 3,595,539
Net effect of dilutive stock
options based on the
treasury stock method using
average market price 111,764 120,456
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TOTALS 3,765,304 3,715,995
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Net income $ 58,148 $ 98,786
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Net income per share $ 0.02 $ 0.03
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Fully diluted:
Average shares outstanding 3,653,540 3,595,539
Net effect of dilutive stock
options based on the
treasury stock method using
quarter end market price
if higher than average
market price 119,716 124,708
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TOTALS 3,773,256 3,720,247
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Net income $ 58,148 $ 98,786
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Net income per share $ 0.02 $ 0.03
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