Exhibit 11
Ballantyne of Omaha, Inc. and Subsidiaries
Computation of Net Income Per Share of Common Stock
Three and Six Months Ended June 30, 1999
(Unaudited)
Three Months Ended Six Months Ended
June 30 June 30
1999 1998 1999 1998
---- ---- ---- ----
BASIC EARNINGS
Earnings applicable to $ 1,823,192 $ 1,425,732 $ 3,659,744 $ 3,327,150
common stock
Weighted average common
shares outstanding* 12,644,264 14,519,121 12,647,681 14,375,107
----------- ----------- ----------- -----------
Basic earnings per share $ 0.14 $ 0.10 $ 0.29 $ 0.23
----------- ----------- ----------- -----------
----------- ----------- ----------- -----------
DILUTED EARNINGS
Earnings applicable to
common stock $ 1,823,192 $ 1,425,732 $ 3,659,744 $ 3,327,150
Weighted average common
shares outstanding* 12,644,264 14,519,121 12,647,681 14,375,107
Assuming conversion
of options outstanding* 574,448 701,805 620,880 697,940
----------- ----------- ----------- -----------
Weighted average common
shares outstanding, as adjusted* 13,218,712 15,220,926 13,268,561 15,073,047
----------- ----------- ----------- -----------
Diluted earnings per share $ 0.14 $ 0.09 $ 0.28 $ 0.22
----------- ----------- ----------- -----------
----------- ----------- ----------- -----------
*Adjusted for the 5% stock dividend effected March 1, 1999