EXHIBIT 11
BDM INTERNATIONAL, INC.
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT FOR EARNINGS PER SHARE DATA)
THREE MONTHS ENDED
MARCH 31, YEARS ENDED DECEMBER 31,
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1995 1994 1994 1993 1992
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Income before cumulative effect and
extraordinary items...................... $ 3,334 $ 2,908 $13,078 $11,028 $ 9,454
Cumulative effect of accounting change... -- -- -- -- (115)
Extraordinary items, net of taxes........ -- -- -- 413 --
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Net income............................... $ 3,334 $ 2,908 $13,078 $11,441 $ 9,339
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Shares used for primary earnings per
share:
Weighted average shares outstanding.... 9,434 11,944 10,417 11,561 11,108
Dilutive effect of common stock
equivalents--noncontingent stock
options.................................. 545 345 524 422 595
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Total shares used for primary earnings
per share.............................. 9,979 12,289 10,941 11,983 11,703
Additional shares used for fully diluted
earnings per share:
Increase for dilutive effect of
contingent stock options........... 92 157 63 91 271
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Total shares used for fully diluted
earnings per share................. 10,071 12,446 11,004 12,074 11,974
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Earnings per share:
Income before cumulative effect and
extraordinary items.................. $ 0.33 $ 0.24 $ 1.20 $ 0.92 $ 0.81
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Cumulative effect of accounting
change............................... $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ (0.01)
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Extraordinary items, net of tax........ $ 0.00 $ 0.00 $ 0.00 $ 0.03 $ 0.00
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Net income............................. $ 0.33 $ 0.24 $ 1.20 $ 0.95 $ 0.80
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Fully diluted.......................... $ 0.33 $ 0.23 $ 1.19 $ 0.95 $ 0.78
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