1
(11)--STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
EDAC TECHNOLOGIES CORPORATION
Three months ended Six months ended
------------------------- ------------------------
July 4 June 30 July 4 June 30
1998 1997 1998 1997
---------- ------------- ---------- ------------
Basic:
Weighted average
shares outstanding (A) 4,233,845 4,175,096 4,225,925 4,156,763
Net income $ 656,969 $ 262,418 $1,322,655 $ 518,379
========== =========== ========== ==========
Basic earnings
per common share $ 0.16 $ 0.06 $ 0.31 $ 0.12
=========== =========== ========= ==========
Diluted:
Weighted average
shares outstanding (A) 4,233,845 4,175,096 4,225,925 4,156,763
Net effect of dilutive
stock options based on
the treasury stock method
using average market price 296,028 230,856 286,042 212,212
---------- ---------- --------- ----------
Totals 4,529,873 4,405,952 4,511,967 4,368,975
========= ========== ========= ==========
Net income $ 656,969 $ 262,418 $1,322,655 $ 518,379
========== ========== ========== ==========
Diluted earnings
per common share $ 0.15 $ 0.06 $ 0.29 $ 0.12
=========== =========== ========== ==========
(A) Retroactively restated for the effect of the 10% stock dividend paid on July
1, 1998 to holders of record on June 16, 1998.