IFR SYSTEMS, INC. EXHIBIT (11.0) - STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE THREE MONTHS ENDED SEPTEMBER 30, 1997 1996 ---- ----- (000'S OMITTED, EXCEPT PER SHARE DATA) PRIMARY: Average shares outstanding 5,445 5,459 Net effect of dilutive stock options-based on the treasury stock method using average market price 263 174 -------- -------- Totals 5,708 5,633 ======== ======== Net Income $ 1,875 $ 1,210 ======== ======== Per Share Amount $ 0.33 $ 0.21 ======== ======== FULLY DILUTED: Average shares outstanding 5,445 5,459 Net effect of dilutive stock options-based on the treasury stock method using the period- end market price, if greater than average market price 348 227 Assumed conversion of 10% convertible notes - 4 ----- ----- Totals 5,793 5,690 ===== ===== Net Income $ 1,875 $ 1,210 Add 10% convertible note interest, net of federal income tax effect - 1 ----- ----- Totals $ 1,875 $ 1,211 ===== ====== Per Share Amount $ 0.32 $ 0.21 ===== ======