EXHIBIT 11.1



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE QUARTERS ENDED JULY 3, 2004 AND JULY 5, 2003

(Unaudited)





|                                                                                             | 2004             | 2003           
|-------------------------------------------------------------------------------------------- | ---------------- | ---------------
|BASIC EARNINGS PER COMMON SHARE:                                                             |                  |                
|                                                                                             |                  |                
|Net income                                                                                   | $  1,130,000     | $    581,000   
|Average common shares outstanding                                                            | 7,352,000        | 7,335,000      
|Basic Earnings Per Common Share                                                              | $           0.15 | $          0.08
|                                                                                             |                  |                
|DILUTED EARNINGS PER COMMON SHARE:                                                           |                  |                
|                                                                                             |                  |                
|Net income                                                                                   | $  1,130,000     | $    581,000   
|Average common shares outstanding                                                            | 7,352,000        | 7,335,000      
|Dilutive effect of restricted stock                                                          | 54,000           | 14,000         
|Common shares issuable in respect to options issued      to employees with a dilutive effect | 109,000          | 17,000         
|Total diluted common shares outstanding                                                      | 7,515,000        | 7,366,000      
|Diluted Earnings Per Common Share                                                            | $           0.15 | $          0.08
|                                                                                             |                  |                



















































EXHIBIT 11.2



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE SIX MONTHS ENDED JULY 3, 2004 AND JULY 5, 2003

(Unaudited)





|                                                                                             | 2004             | 2003            
|-------------------------------------------------------------------------------------------- | ---------------- | ----------------
|BASIC EARNINGS PER COMMON SHARE:                                                             |                  |                 
|                                                                                             |                  |                 
|Net income                                                                                   | $  2,385,000     | $  1,470,000    
|Average common shares outstanding                                                            | 7,348,000        | 7,335,000       
|Basic Earnings Per Common Share                                                              | $           0.32 | $           0.20
|                                                                                             |                  |                 
|DILUTED EARNINGS PER COMMON SHARE:                                                           |                  |                 
|                                                                                             |                  |                 
|Net income                                                                                   | $  2,385,000     | $  1,470,000    
|Average common shares outstanding                                                            | 7,348,000        | 7,335,000       
|Dilutive effect of restricted stock                                                          | 50,000           | 14,000          
|Common shares issuable in respect to options issued      to employees with a dilutive effect | 85,000           | 8,000           
|Total diluted common shares outstanding                                                      | 7,483,000        | 7,357,000       
|Diluted Earnings Per Common Share                                                            | $           0.32 | $           0.20
|                                                                                             |                  |                 







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