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                                                                  EXHIBIT 11.01

                         FIREARMS TRAINING SYSTEMS, INC.
         STATEMENT REGARDING COMPUTATION OF NET INCOME PER COMMON SHARE
                      (IN THOUSANDS, EXCEPT PER SHARE DATA)


<TABLE>
<CAPTION>
                                             PRIMARY EARNINGS PER SHARE (1)   FULLY DILUTED EARNINGS PER SHARE (1)
                                                    THREE MONTHS ENDED                THREE MONTHS ENDED
                                                         JUNE 30,                          JUNE 30,
                                                  1997           1996               1997             1996
                                                --------       --------           --------         --------      



<S>                                           <C>             <C>                 <C>             <C>     
Weighted average number of common
 shares outstanding                             20,403          49,800 (2)          20,403           49,800  (2)
Shares repurchased in conjunction with                                                                          
 the Recapitalization                               --         (46,832)(3)              --          (46,832) (3)
Shares issued in conjunction with the                                                                           
 Recapitalization                                   --          11,165 (4)              --           11,165  (4)
Shares granted to management                        --              37 (5)              --               37  (5)
Shares purchased by management                      --             232 (5)              --              232  (5)
Shares issued upon assumed exercise of                                                                          
 outstanding warrants                               --             288 (6)              --              288  (6)
Shares issued upon assumed exercise of                                                                          
 outstanding options                             1,288           1,339 (7)           1,323            1,339  (7)


Weighted average common and common            --------        --------            --------          -------
 equivalent shares outstanding                  21,691          16,029              21,726           16,029
                                              ========        ========            ========          =======

Net income                                    $  2,186        $  2,215            $  2,186          $ 2,215
                                              ========        ========            ========          =======

Earnings per share                            $   0.10        $   0.14            $   0.10          $  0.14
                                              ========        ========            ========          =======
</TABLE>

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(1)  Shares reflect a 100,000-for-one stock split in July 1996 in connection
     with the recapitalization and a split of 1.66-for-one in October 1996.
(2)  Shares reflect the weighted average shares prior to the recapitalization of
     49,800,000 shares.
(3)  Shares were repurchased from THIN International for $171.2 million in
     connection with the recapitalization and are assumed to be outstanding for
     all periods presented.
(4)  Shares were issued for $36 million in connection with the recapitalization
     and are assumed to be outstanding for all periods presented.
(5)  Shares purchased by or granted to management for approximately $3.25 per
     share which are assumed to be outstanding for all periods presented.
(6)  Represents warrants attached to the bridge notes, at approximately
     $0.000006 per warrant, which are assumed to be outstanding for all periods
     presented through the date of the offering, using the treasury stock 
     method at the initial offering price of $14 per share. These warrants were
     repurchased and retired by the Company with proceeds from the offering.
(7)  Represents 1,742,834 stock options exercisable at approximately $3.25 per
     option, which are assumed to be outstanding for all periods presented,
     using the treasury stock method.