THE DEWOLFE COMPANIES, INC.
Exhibit (11.0) Statement Re: Computation of Per Share Earnings
Three Months Ended March 31,
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1997 1996
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Weighted Average Shares Outstanding 3,302,000 3,293,000
Net effect of dilutive stock
options-based on the treasury
stock method using the
period end market price if
higher than average market price --- (1) 148,000
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Total 3,302,000 3,441,000
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Net (Loss) Income $ (66,000) $206,000
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Net (Loss) Income Per Share $ (.02) $ .06
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(1) Effect of dilutive per share results for the March 31, 1997 quarter were
not included as they would be anti-dilutive.