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MAXCO, INC.
EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Three Months Ended June 30,
1997 1996
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(In thousands except per share data)
NET INCOME FOR COMPUTATION
OF PER SHARE AMOUNTS
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Net income from continuing operations $ 1,325 $ 139
Net income from discontinued operations 308
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Net income 1,325 447
Preferred stock dividends (83) (51)
Net Income Attributable To Common Stock-Primary
Continuing operations 1,242 88
Discontinued operations 308
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1,242 396
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Net Income Attributable To Common Stock-Fully Diluted
Continuing operations 1,242 115
Discontinued operations 308
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1,242 423
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PRIMARY
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Average shares outstanding 3,510,963 4,233,184
Net effect of dilutive stock options--based on the
Treasury Stock Method using average market price 62,916 123,755
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TOTAL 3,573,879 4,356,939
Net income per share:
Continuing operations $ .35 $ .02
Discontinued operations .07
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$ .35 $ .09
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FULLY DILUTED
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Average shares outstanding 3,510,963 4,233,184
Net effect of dilutive stock options--based on the Treasury
Stock Method using the quarter-end market price if
higher than average market price 64,131 123,755
Assumed conversion of series two 12% cumulative
redeemable convertible preferred stock 231,840
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TOTAL 3,575,094 4,588,779
Net income per share:
Continuing operations $ .35 $ .02
Discontinued operations .07
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$ .35 $ .09
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