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FORM 10-Q
EXHIBIT 11
HICKOK INCORPORATED
STATEMENT RE: COMPUTATION OF PER COMMON SHARE EARNINGS
Three Months Ended
December 31,
1999 1998
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PRIMARY
- -------
Average shares outstanding 1,199,750 1,198,424
Net effect of dilutive
stock options - based
on the treasury stock
method using average
market price 13,858 - **
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Total Shares 1,213,608 1,198,424
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Net Income (Loss) $ 226,391 $ (247,074)
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Per Share $ .19 $ (.21)
FULLY DILUTED =========== ==========
- -------------
Average shares outstanding 1,199,750 1,198,424
Net effect of dilutive
stock options - based
on the treasury stock
method using period-end
market price, if
higher than average
market price 13,858* - **
----------- ----------
Total Shares 1,213,608 1,198,424
----------- ----------
Net Income (Loss) $ 226,391 $ (247,074)
========== ==========
Per Share $ .19 $ (.21)
========== ==========
* Period-end market price is less than average market price, use same as
primary shares.
** Net effect of stock options was antidilutive for the period.
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