1
EXHIBIT 11
GALILEO ELECTRO-OPTICS CORPORATION
CALCULATION OF EARNINGS PER SHARE
Three Months Ended
----------------------------
Dec. 31, 1995 Dec. 31, 1994
------------- -------------
Primary
Average shares outstanding 6,493,660 6,473,654
Net effect of dilutive stock options - based
on the treasury stock method using average
market price 101,723 --
---------- ----------
Total 6,595,383 6,473,654
Net income (loss) $1,088,000 $(476,000)
========== ==========
Per share amount $.16 $(.07)
========== ==========
Fully Diluted
Average shares outstanding 6,493,660 6,473,654
Net effect of dilutive stock options - based
on the treasury stock method using the quarter-
end market price, if higher than average
market price 110,009 --
---------- ----------
Total 6,603,669 6,473,654
Net income (loss) $1,088,000 $(476,000)
========== ==========
Per share amount $.16 $(.07)
========== ==========
14