Page 8 of 8 EXHIBIT 11 APA OPTICS, INC.
Statement RE: Computation of Per Share Earnings Three months ended Six months ended Septmeber 30 September 30 1995 1994 1995 1994 Average common shares outstanding 7,583,161 7,276,010 7,482,477 7,275,469 Dilutive stock options and warrants (A) 40,678 0 0 0 Total 7,623,839 7,276,010 7,482,477 7,275,469 Net income (loss) $ 14,795 $(134,235) $( 1,692) $(242,863) Per share amount $ .00 $(.02) $(.00) $(.03) (A) Calculated using the "treasury stock" method.