(11)--STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
EDAC TECHNOLOGIES CORPORATION
Three Months Ended Nine Months Ended
September 30 September 30
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1996 1995 1996 1995
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Primary:
Average shares outstanding 3,711,040 3,647,207 3,677,207 3,620,354
Net effect of dilutive
stock options based on
the treasury stock method
using average market price 69,485 129,020 101,007 159,791
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TOTALS 3,780,525 3,776,227 3,778,214 3,780,145
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Net income (loss) $ (51,645) $ (46,230) $ 29,678 $ 14,760
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Net income (loss)
per share $ (0.01) $ (0.01) $ 0.01 $ 0.00
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Fully diluted:
Average shares outstanding 3,711,040 3,647,207 3,677,207 3,620,354
Net effect of dilutive
stock options based on
the treasury stock method
using quarter end market
price if higher than
average market price 66,522 139,816 84,405 145,174
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TOTALS 3,777,562 3,787,023 3,761,612 3,765,528
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Net income (loss) $ (51,645) $ (46,230) $ 29,678 $ 14,760
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Net income (loss)
per share $ (0.01) $ (0.01) $ 0.01 $ 0.00
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