1
Exhibit 11
BOWMAR INSTRUMENT CORPORATION
COMPUTATION OF NET INCOME PER COMMON SHARE
- - - - - - -------------------------------------------------------------------------------------------------------------
SECOND QUARTER FIRST SIX MONTHS
FISCAL FISCAL FISCAL FISCAL
1995 1994 1995 1994
- - - - - - -------------------------------------------------------------------------------------------------------------
PRIMARY NET INCOME PER
COMMON SHARE:
NET INCOME:
Net Income $687,000 $641,000 $1,149,000 $1,188,000
Less: Dividends on Preferred Stock 90,000 90,000 180,000 180,000
-------- -------- ---------- ----------
Net Income Applicable to Common Stock $597,000 $551,000 $969,000 $1,008,000
======== ======== ========= ==========
SHARES:
Weighted Average Number of Common
Shares Outstanding 6,414,561 6,418,939 6,413,788 6,363,616
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 149,192 171,901 150,029 172,116
-------- --------- --------- ---------
Weighted Average Number of Shares
and Common Stock Equivalents 6,563,753 6,590,840 6,563,817 6,535,732
========= ========= ========= =========
PRIMARY NET INCOME PER
COMMON SHARE $0.09 $0.08 $0.15 $0.15
========= ========= ========= =========
FULLY DILUTED NET INCOME PER
COMMON SHARE:
NET INCOME:
Net Income $687,000 $641,000 $1,149,000 $1,188,000
========= ========= ========= =========
SHARES:
Weighted Average Number of Shares
and Common Stock Equivalents 6,563,753 6,590,840 6,563,817 6,535,732
Number of Shares of Common Stock
Issued Upon Conversion of
Preferred Stock 1,599,467 1,602,266 1,599,467 1,602,266
--------- --------- --------- ---------
Weighted Average Number of Shares
and Common Stock Equivalents
Assuming Conversion of Preferred Stock 8,163,220 8,193,106 8,163,284 8,137,998
========= ========= ========= =========
FULLY DILUTED NET INCOME PER
COMMON SHARE $0.08 $0.08 $0.14 $0.15
========= ========= ========= =========
9