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EXHIBIT 11
SIMULA, INC.
COMPUTATION OF EARNINGS PER SHARE
YEAR ENDED DECEMBER 31, SIX MONTHS ENDED JUNE 30,
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1991 1992 1993 1994 1995 1995 1996
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Income:
Net (Loss) Earnings...................... $1,732,281 $1,269,324 $1,120,800 $2,114,423 $4,102,359 $1,553,072 $(3,423,444)
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PRO FORMA
Net earnings............................. 1,732,281 1,269,324
Pro forma adjustment to:
Eliminate certain compensation to
Desjardins............................. 76,500
Adjust for certain investments
distributed to Desjardins.............. 3,085
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Pro forma earnings before income taxes... 1,811,866 1,269,324
Pro forma income tax (credit) provision.. 689,000 (43,473)
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Pro forma net earnings................... $1,122,866 $1,312,797
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Number of shares:
Weighted average shares outstanding...... 3,571,940 4,608,825 5,024,679 5,461,095 8,175,300 7,457,964 8,916,287
Incremental shares for outstanding stock
options................................ 74,428 20,847 261,233
Incremental shares for outstanding stock
warrants............................... 169,403 380,670 29,622
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3,571,940 4,608,825 5,024,679 5,704,926 8,576,817 7,748,819 8,916,287
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Earnings (Loss) per share.................. $0.22 $0.37 $0.48 $0.20 ($0.38)
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Pro forma earnings per share............... $0.31 $0.29
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