TOP AIR MANUFACTURING, INC. AND SUBSIDIARY
EXHIBIT 11 - COMPUTATION OF EARNINGS (LOSS) PER SHARE
Three Months Ended Three Months Ended
August 31, August 31,
1999 1998
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Basic:
Shares outstanding at
the beginning of the period 4,968,957 5,083,456
Weighted average of shares
issued (retired) during the
period 6,315 208
Weighted average shares
outstanding 4,975,272 5,083,664
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Net income (loss) $ (511,607) $ (225,821)
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Net income (loss) per
share $ (.10) $ (.04)
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Fully Diluted:
Weighted average shares
outstanding 4,975,272 5,083,664
Net effect of dilutive securities
employee stock options # -- --
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Weighted average number of
equivalent shares 4,975,272 5,083,664
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Net income (loss) $ (511,607) $ (225,821)
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Net income (loss) per share $ (.10) $ (.04)
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#The stock options have not been included because they are antidilutive.