1
EXHIBIT 11
PACE MEDICAL, INC. AND WHOLLY OWNED SUBSIDIARY
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
- --------------------------------------------------------------------------------
FOR THE THREE MONTHS
ENDED MARCH 31
--------------------
1997 1996
---- ----
CALCULATION OF PRIMARY EARNINGS
PER SHARE
Net Income $ 76,492 $ 131,025
---------- ----------
Number of shares:
Weighted average shares
outstanding 3,400,850 3,390,850
Incremental shares for
outstanding stock options
and warrants 188,818 78,532
---------- ----------
Total shares outstanding for
purpose of earnings per share
computation 3,589,668 3,467,382
---------- ----------
Income per share as calculated $ .02 $ .04
---------- ----------
CALCULATION OF FULLY DILUTED
EARNINGS PER SHARE
Net Income $ 76,492 $ 131,025
---------- ----------
Number of shares:
Weighted average shares
outstanding 3,400,850 3,390,850
Incremental shares for
outstanding stock options
and warrants 207,333 135,702
---------- ----------
Total shares outstanding for
purpose of earnings per share
computation 3,608,183 3,526,552
---------- ----------
Income per share as calculated $ .02 $ .04
---------- ----------
-11-