Exhibit 11
APA OPTICS, Inc.
Statement RE: Computation
of Per Share Earnings
Three
months ended Six months ended
September 30 September 30
1996 1995 1996
1995
Average common
shares outstanding 8,160,736
7,583,161 8,081,197 7,482,477
Dilutive stock options
and warrants (A)
0 40,678 0
0
Total
8,160,736 7,623,839 8,081,197
7,482,477
Net income (loss) $
(6,763) $ 14,795 $ (70,280)
$ (1,692)
Per share amount
$(.00) $.00 $(.01)
$(.00)
(A) Calculated using the "treasury stock" method.