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FORM 10-Q
EXHIBIT 11
HICKOK INCORPORATED
STATEMENT RE: COMPUTATION OF PER COMMON SHARE EARNINGS
Three Months Ended
December 31,
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2000 1999
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PRIMARY
Average shares outstanding 1,217,750 1,199,750
Net effect of dilutive
stock options - based
on the treasury stock
method using average
market price - ** 13,858
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Total Shares 1,217,750 1,213,608
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Net Income (Loss) $ (344,563) $ 226,391
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Per Share $ (.28) $ .19
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FULLY DILUTED
Average shares outstanding 1,217,750 1,199,750
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 1,217,750 1,213,608
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Net Income (Loss) $ (344,563) $ 226,391
========== ==========
Per Share $ (.28) $ .19
========== ==========
* 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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