Exhibit 11
EASTCO INDUSTRIAL SAFETY CORP.
AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
Year Ended June 30,
1996 1995
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Primary:
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Net earnings $ 10,037 $ 77,937
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Average common shares outstanding 362,391 347,738
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Dilutive options and warrants outstanding 613,680 414,245
Less shares attributable to application
of treasury stock method at average
prices of $14.03 and $13.75 per share
for the years ended June 30, 1996 and
1995, respectively (380,313) (369,454)
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Net incremental shares applicable
to common stock equivalents 233,367 44,791
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Number of common and common equivalent
shares outstanding 595,758 392,529
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Earnings per common and common equivalent
shares outstanding $.017 $.199
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Rounded $.02 $.20
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Fully Diluted:
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Dilutive options and warrants outstanding 613,680 414,245
Less shares applicable to application of
treasury stock method at June 30, 1996
average price of $14.03 and at June 30,
1995 closing price of $17.50 per share (380,313) (290,285)
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Net incremental shares applicable to
common stock equivalents 233,367 123,960
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Number of common and common equivalent
shares outstanding 595,758 471,698
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Earnings per fully diluted common and
common equivalent shares outstanding $.017 $.165
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Rounded $.02 $.17
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*The limitation on shares subject to the treasury stock method, pursuant to the
provisions of Paragraph 38 of Accounting Principles Board Opinion Number 15,
is not applicable because the result of applying such provisions is
anti-dilutive.
All amounts for average common shares outstanding and dilutive options and
warrants have been restated to give retroactive effect to the 1-for-10 reverse
stock split in August 1996.