TOP AIR MANUFACTURING, INC. AND SUBSIDIARIES
EXHIBIT 11 - COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE
Three Months Ended Nine Months Ended
February 29, February 28, February 29, February 28,
2000 1999 2000 1999
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Basic:
Common shares outstanding at
the beginning of the period 4,954,803 4,968,957 4,968,957 5,083,456
Weighted average of common
shares issued (retired) during
the period -- -- (459) (63,779)
Weighted average common
shares outstanding 4,954,803 4,968,957 4,968,498 5,019,677
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Net income (loss) $ (232,097) $ (80,456) $(1,204,925) $ (458,601)
=========== =========== ============ ============
Net income (loss) per
common share $ (.05) $ (.02) $ (.24) $ (.09)
=========== =========== ============ ============
Fully Diluted:
Weighted average common
shares outstanding 4,954,803 4,968,957 4,968,498 5,019,677
Net effect of dilutive securities
employee stock options # -- -- -- --
----------- ----------- ------------ ------------
Weighted average common and
common equivalent shares 4,954,803 4,968,957 4,968,498 5,019,677
=========== =========== ============ ============
Net income (loss) $ (232,097) $ (80,456) $(1,204,925) $ (458,601)
=========== =========== ============ ============
Net income (loss) per common
share $ (.05) $ (.02) $ (.24) $ (.09)
=========== =========== ============ ============
#The stock options have not been included because they are antidilutive.