EXHIBIT 11.1



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE QUARTERS ENDED JULY 5, 2003 AND JUNE 29, 2002

(Unaudited)





|                                                                                             | 2003             | 2002            
|-------------------------------------------------------------------------------------------- | ---------------- | ----------------
|BASIC EARNINGS PER COMMON SHARE:                                                             |                  |                 
|                                                                                             |                  |                 
|Net income                                                                                   | $     581,000    | $  1,224,000    
|Average common shares outstanding                                                            | 7,435,000        | 7,330,000       
|Basic Earnings Per Common Share                                                              | $           0.08 | $           0.17
|                                                                                             |                  |                 
|DILUTED EARNINGS PER COMMON SHARE:                                                           |                  |                 
|                                                                                             |                  |                 
|Net income                                                                                   | $      581,000   | $  1,224,000    
|Average common shares outstanding                                                            | 7,435,000        | 7,330,000       
|Common shares issuable in respect to options issued      to employees with a dilutive effect | 17,000           | 6,000           
|Total diluted common shares outstanding                                                      | 7,452,000        | 7,336,000       
|Diluted Earnings Per Common Share                                                            | $           0.08 | $           0.17
|                                                                                             |                  |                 





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EXHIBIT 11.2



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE SIX MONTHS ENDED JULY 5, 2003 AND JUNE 29, 2002

(Unaudited)





|                                                                                             | 2003             | 2002            
|-------------------------------------------------------------------------------------------- | ---------------- | ----------------
|BASIC EARNINGS PER COMMON SHARE:                                                             |                  |                 
|                                                                                             |                  |                 
|Net income                                                                                   | $  1,470,000     | $  1,905,000    
|Average common shares outstanding                                                            | 7,392,000        | 7,329,000       
|Basic Earnings Per Common Share                                                              | $           0.20 | $           0.26
|                                                                                             |                  |                 
|DILUTED EARNINGS PER COMMON SHARE:                                                           |                  |                 
|                                                                                             |                  |                 
|Net income                                                                                   | $  1,470,000     | $  1,905,000    
|Average common shares outstanding                                                            | 7,392,000        | 7,329,000       
|Common shares issuable in respect to options issued      to employees with a dilutive effect | 8,000            | 6,000           
|Total diluted common shares outstanding                                                      | 7,400,000        | 7,335,000       
|Diluted Earnings Per Common Share                                                            | $           0.20 | $           0.26
|                                                                                             |                  |                 





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