EXHIBIT 11.1



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE QUARTERS ENDED OCTOBER 2, 2004 AND OCTOBER 4, 2003

(Unaudited)





|                                                                                        | 2004              | 2003           
|--------------------------------------------------------------------------------------- | ----------------- | ---------------
|BASIC EARNINGS PER COMMON SHARE:                                                        |                   |                
|                                                                                        |                   |                
|Income from continuing operations                                                       | $      860,000    | $    590,000   
|Income from spun off subsidiary, net of tax                                             | 24,695,000        | --             
|Net income                                                                              | $ 25,555,000      | $    590,000   
|                                                                                        |                   |                
|Average common shares outstanding                                                       | 7,368,000         | 7,341,000      
|                                                                                        |                   |                
|Basic earnings per share from continuing operations                                     | $            0.12 | $          0.08
|Basic earnings per share from spun off subsidiary                                       | 3.35              | --             
|Basic earnings per share                                                                | $            3.47 | $          0.08
|                                                                                        |                   |                
|DILUTED EARNINGS PER COMMON SHARE:                                                      |                   |                
|                                                                                        |                   |                
|Income from continuing operations                                                       | $      860,000    | $    590,000   
|Income from spun off subsidiary, net of tax                                             | 24,695,000        | --             
|Net income                                                                              | $ 25,555,000      | $    590,000   
|                                                                                        |                   |                
|Average common shares outstanding                                                       | 7,368,000         | 7,341,000      
|Dilutive effect of restricted stock                                                     | 61,000            | 27,000         
|Common shares issuable in respect to options issued to
employees with a dilutive effect | 158,000           | 43,000         
|Total diluted common shares outstanding                                                 | 7,587,000         | 7,411,000      
|                                                                                        |                   |                
|Diluted earnings per share from continuing operations                                   | $            0.11 | $          0.08
|Diluted earnings per share from spun off subsidiary                                     | 3.25              | --             
|Diluted earnings per share                                                              | $            3.37 | $          0.08
|                                                                                        |                   |                

























EXHIBIT 11.2



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE NINE MONTHS ENDED OCTOBER 2, 2004 AND OCTOBER 4, 2003

(Unaudited)





|                                                                                        | 2004              | 2003            
|--------------------------------------------------------------------------------------- | ----------------- | ----------------
|BASIC EARNINGS PER COMMON SHARE:                                                        |                   |                 
|                                                                                        |                   |                 
|Income from continuing operations                                                       | $   3,245,000     | $  2,060,000    
|Income from spun off subsidiary, net of tax                                             | 24,695,000        | --              
|Net income                                                                              | $ 27,940,000      | $  2,060,000    
|                                                                                        |                   |                 
|Average common shares outstanding                                                       | 7,355,000         | 7,337,000       
|                                                                                        |                   |                 
|Basic earnings per share from continuing operations                                     | $            0.44 | $           0.28
|Basic earnings per share from spun off subsidiary                                       | 3.36              |                 
|Basic Earnings Per Common Share                                                         | $            3.80 | $           0.28
|                                                                                        |                   |                 
|DILUTED EARNINGS PER COMMON SHARE:                                                      |                   |                 
|                                                                                        |                   |                 
|Income from continuing operations                                                       | $   3,245,000     | $  2,060,000    
|Income from spun off subsidiary, net of tax                                             | 24,695,000        | --              
|Net income                                                                              | $ 27,940,000      | $  2,060,000    
|                                                                                        |                   |                 
|Average common shares outstanding                                                       | 7,355,000         | 7,337,000       
|Dilutive effect of restricted stock                                                     | 57,000            | 24,000          
|Common shares issuable in respect to options issued to
employees with a dilutive effect | 115,000           | 15,000          
|Total diluted common shares outstanding                                                 | 7,527,000         | 7,376,000       
|                                                                                        |                   |                 
|Diluted earnings per share from continuing operations                                   | $            0.43 | $           0.28
|Diluted earnings per share from spun off subsidiary                                     | 3.28              | --              
|Diluted Earnings Per Common Share                                                       | $            3.71 | $           0.28
|                                                                                        |                   |                 



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