1
11--STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
EDAC TECHNOLOGIES CORPORATION
Three Months Ended
March 31
-----------------------
1997 1996
---------- -----------
Primary:
Average shares outstanding 3,762,208 3,653,540
Net effect of dilutive stock
options based on the
treasury stock method using
average market price 130,207 111,764
---------- -----------
TOTALS 3,892,415 3,765,304
========== ===========
Net income $ 255,961 $ 58,148
========== ===========
Net income per share $ 0.07 $ 0.02
========== ===========
Fully diluted:
Average shares outstanding 3,762,208 3,653,540
Net effect of dilutive stock
options based on the
treasury stock method using
quarter end market price
if higher than average
market price 138,916 119,716
---------- -----------
TOTALS 3,901,124 3,773,256
========== ===========
Net income $ 255,961 $ 58,148
========== ===========
Net income per share $ 0.07 $ 0.02
========== ===========