1 EXHIBIT 11 AMC, INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE Quarter Ended Six Months Ended February 28, 1997 February 28, 1997 ----------------- ----------------- Net earnings $ 2,222,774 $ 2,693,962 Weighted average number of outstanding common shares 61,962,751 61,962,751 Earnings per common and common stock equivalent shares $ .04 $ .04 =========== =========== Assumed earnings increases due to exercise of warrants $ 205,000 $ 410,000 ----------- ----------- Adjusted net earnings 2,427,774 3,103,962 Additional shares assumed issued due to exercise of warrants 16,736,548 16,736,548 ----------- ----------- Adjusted weighted average number of outstanding common shares 78,699,299 78,699,299 Earnings per common and common stock equivalent shares- fully diluted $ .03 $ .04 =========== ===========