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EXHIBIT 11
GALILEO CORPORATION
CALCULATION OF EARNINGS PER SHARE
Three Months Ended
December 31,
1996 1995
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Primary
Average shares outstanding 6,836,453 6,763,573
Net effect of dilutive stock options - based
on the treasury stock method using
average market price -- 101,723
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Total 6,836,453 6,865,296
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Net income (loss) $(1,166,000) $1,524,000
Per share amount $ (.17) $ .22
Fully Diluted
Average shares outstanding 6,836,453 6,763,573
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
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Total 6,836,453 6,873,582
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Net income (loss) $(1,166,000) $1,524,000
Per share amount $ (.17) $ .22
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