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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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1998 1997
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PRIMARY
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Average shares outstanding 1,198,424 1,195,850
Net effect of dilutive
stock options - based
on the treasury stock
method using average
market price - * 16,304
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Total Shares 1,198,424 1,212,154
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Net Income (Loss) $ (247,074) $ 287,435
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Per Share $ (.21) $ .24
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FULLY DILUTED
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Average shares outstanding 1,198,424 1,195,850
Net effect of dilutive
stock options - based
on the treasury stock
method using period-end
market price, if
higher than average
market price - * 18,982
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Total Shares 1,198,424 1,214,832
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Net Income (Loss) $ (247,074) $ 287,435
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Per Share $ (.21) $ .24
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* Net effect of stock options was antidilutive for the period.
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