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EXHIBIT 11
GALILEO ELECTRO-OPTICS CORPORATION
CALCULATION OF EARNINGS PER SHARE
Three Months Ended Nine Months Ended
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June 30, 1996 June 30, 1995 June 30, 1996 June 30, 1995
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Primary
Average shares outstanding 6,536,246 6,480,208 6,517,674 6,475,839
Net effect of dilutive stock options - based
on the treasury stock method using
average market price 196,611 40,186 146,290 18,254
Total 6,732,857 6,520,394 6,663,964 6,494,093
Net Income $1,496,000 $ 373,000 $3,845,000 $ 66,000
Per share amount $ .22 $ .06 $ .58 $ .01
Fully Diluted
Average shares outstanding 6,536,246 6,480,208 6,517,674 6,475,839
Net effect of dilutive stock options - based
on the treasury stock method using the
quarter end market price, if higher than
average market price 199,622 53,496 147,290 22,691
Total 6,735,868 6,533,704 6,664,964 6,498,530
Net Income $1,496,000 $ 373,000 $3,845,000 $ 66,000
Per share amount $ .22 $ .06 $ .58 $ .01
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