EXHIBIT 11.1



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE QUARTERS ENDED SEPTEMBER 30, 2006 AND OCTOBER 1, 2005

(Unaudited)



|                                                                                        | 2006             | 2005            
|--------------------------------------------------------------------------------------- | ---------------- | ----------------
|BASIC EARNINGS PER COMMON SHARE:                                                        |                  |                 
|                                                                                        |                  |                 
|Net income                                                                              | $  1,329,000     | $      215,000  
|Average common shares outstanding                                                       | 7,120,000        | 7,346,000       
|Basic Earnings per Common Share                                                         | $           0.19 | $           0.03
|                                                                                        |                  |                 
|DILUTED EARNINGS PER COMMON SHARE:                                                      |                  |                 
|                                                                                        |                  |                 
|Net income                                                                              | $  1,329,000     | $     215,000   
|                                                                                        |                  |                 
|Average common shares outstanding                                                       | 7,120,000        | 7,346,000       
|Dilutive effect of restricted stock                                                     | 96,000           | 79,000          
|Common shares issuable in respect to options issued to
employees with a dilutive effect | 149,000          | 187,000         
|Total diluted common shares outstanding                                                 | 7,365,000        | 7,612,000       
|Diluted earnings per share                                                              | $           0.18 | $           0.03
|                                                                                        |                  |                 





EXHIBIT 11.2



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2006 AND OCTOBER 1, 2005

(Unaudited)





|                                                                                        | 2006              | 2005             
|--------------------------------------------------------------------------------------- | ----------------- | -----------------
|BASIC EARNINGS PER COMMON SHARE:                                                        |                   |                  
|                                                                                        |                   |                  
|Net income                                                                              | $   3,690,000     | $   2,726,000    
|Average common shares outstanding                                                       | 7,155,000         | 7,379,000        
|Basic Earnings Per Common Share                                                         | $            0.52 | $            0.37
|                                                                                        |                   |                  
|DILUTED EARNINGS PER COMMON SHARE:                                                      |                   |                  
|                                                                                        |                   |                  
|Income from continuing operations                                                       | $   3,690,000     | $   2,726,000    
|                                                                                        |                   |                  
|Average common shares outstanding                                                       | 7,155,000         | 7,379,000        
|Dilutive effect of restricted stock                                                     | 96,000            | 79,000           
|Common shares issuable in respect to options issued to
employees with a dilutive effect | 134,000           | 191,000          
|Total diluted common shares outstanding                                                 | 7,385,000         | 7,649,000        
|Diluted Earnings Per Common Share                                                       | $            0.50 | $            0.36
|                                                                                        |                   |