Exhibit 11 KVH INDUSTRIES INC. COMPUTATION OF EARNINGS PER SHARE (in thousands, except per share data) (unaudited) For the 3 months For the 6 months ended June 30, ended June 30, --------------- --------------- 1997 1996 1997 1996 ------ ------ ------ ------ Net earnings ........................... $ 402 32 $1,006 508 ====== ====== ====== ====== Shares: Weighted average number of ............. 7,044 6,724 7,028 5,793 common shares outstanding Additional shares assuming conversion of: stock options and warrants .......... 460 680 460 677 ------ ------ ------ ------ Average common shares outstanding and equivalents ......... 7,504 7,404 7,488 6,470 ====== ====== ====== ====== Net earnings per common share ........ $ 0.05 0.04 $ 0.13 0.08 ====== ====== ====== ====== See the accompanying notes to consolidated financial statements.