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EXHIBIT 11
BOWMAR INSTRUMENT CORPORATION AND SUBSIDIARY
COMPUTATION OF EARNINGS PER COMMON SHARE
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FIRST QUARTER
FISCAL FISCAL
1997 1996
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NET INCOME PER COMMON SHARE - PRIMARY:
INCOME:
Net Income $ 428,000 $ 204,000
Less: Dividends on Preferred Stock 90,000 90,000
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Profit Applicable to Common Stock $ 338,000 $ 114,000
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SHARES:
Weighted Average Number of Common
Shares Outstanding 6,563,311 6,452,904
Number of Common Stock Equivalents
Assuming Exercise of Options Reduced
by the Number of Shares Which Could
Have Been Purchased With the Proceeds
From Exercise of Such Options 3,660 180,909
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Weighted Average Number of Shares
and Common Stock Equivalents 6,566,971 6,633,813
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NET INCOME PER COMMON SHARE - PRIMARY $ 0.05 $ 0.02
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NET INCOME PER COMMON SHARE - FULLY DILUTED:
INCOME:
Net Income $ 428,000 $ 204,000
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SHARES:
Weighted Average Number of Shares
and Common Stock Equivalents 6,568,480 6,633,813
Number of Shares of Common Stock
Issued Upon Conversion of
Preferred Stock 1,598,907 1,599,467
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Weighted Average Number of Shares
and Common Stock Equivalents
Assuming Conversion of Preferred Stock 8,167,387 8,233,280
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NET INCOME PER COMMON
SHARE - FULLY DILUTED $ 0.05 $ 0.02
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