1
FORM 10-Q
EXHIBIT 11
HICKOK INCORPORATED
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Three Months Ended Nine Months Ended
June 30, June 30,
----------------------------- -----------------------------
2000 1999 2000 1999
---------- ----------- ----------- -----------
PRIMARY
- -------
Average shares outstanding 1,200,564 1,199,750 1,201,235 1,199,303
Net effect of dilutive
stock options - based
on the treasury stock
method using average
market price - * 12,755 - * - *
----------- ---------- ----------- -----------
Total Shares 1,200,564 1,212,505 1,201,235 1,199,303
----------- ---------- ----------- -----------
Net Income (Loss) $ (444,857) $ 15,196 $ (392,913) $ (457,686)
=========== ========== =========== ===========
Per Share $ (.37) $ .01 $ (.33) $ (.38)
=========== ========== =========== ===========
FULLY DILUTED
- -------------
Average shares outstanding 1,200,564 1,199,750 1,201,235 1,199,303
Net effect of dilutive
stock options - based
on the treasury stock
method using year-end
market price, if higher
than average market price - * 13,995 - * - *
----------- ---------- ----------- -----------
Total Shares 1,200,564 1,213,745 1,201,235 1,199,303
----------- ---------- ----------- -----------
Net Income (Loss) $ (444,857) $ 15,196 $ (392,913) $ (457,686)
=========== ========== =========== ===========
Per Share $ (.37) $ .01 $ (.33) $ (.38)
=========== ========== =========== ===========
* Net effect of stock options was antidilutive for the period.
(18)