GRC International, Inc. Statement of Computation of Earnings Per Share (in thousands except for per share amounts) QTR ENDING YTD ENDING 06/30/98 06/30/97 06/30/98 06/30/97 ------------------------ ------------------------ BASIC Weighted Average Number of Shares of Common Stock Outstanding 10,140 9,359 9,838 9,338 Income (Loss) from Continuing Operations 3,991 3,451 10,702 13,861 Income (Loss) from Discontinuing Operations (31,611) - - 758 ======================== ======================== Net Income (Loss) 3,991 3,451 11,460 (17,750) ======================== ======================== Per Share Amount: Income (Loss) from Continuing Operations 0.39 0.37 1.09 1.48 Income (Loss) from Discontinuing Operations - - 0.08 (3.39) ======================== ======================== Net Income (Loss) 0.39 0.37 1.17 (1.90) ======================== ======================== FULLY DILUTED Weighted Average Number of Shares of Common Stock Outstanding 10,140 9,359 9,838 9,338 Net Effect of Dilutive Stock Options Based on the Treasury Stock Method Using Average Market Price 176 245 63 146 Net Effect of Convertible Debenture Based on the if Converted Method (ONLY IF DILUTIVE) 329 - 741 270 ======================== ======================== Weighted Average Shares Outstanding 10,386 10,163 10,254 9,843 ======================== ======================== Income (Loss) from Continuing Operations 3,991 3,451 10,702 13,861 Interest and Amortization on 425 - 357 184 Convertible Debenture (ONLY IF DILUTIVE) Adjusted Income (Loss) from Continuing Operations 3,991 3,808 10,886 14,286 Income (Loss) from Discontinuing Operations (31,611) - - 758 ======================== ======================== Adjusted Net Income (Loss) 3,991 3,808 11,644 (17,325) ======================== ======================== Per Share Amount: Adjusted Income (Loss) from Continuing Operations 0.38 0.37 1.06 1.45 Income (Loss) from Discontinuing Operations - - 0.07 (3.21) ======================== ======================== Adjusted Net Income (Loss) 0.38 0.37 1.13 (1.76) ======================== ========================