EXHIBIT 11.1



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE QUARTERS ENDED OCTOBER 4, 2003 AND SEPTEMBER 28, 2002

(Unaudited)





|                                                                                             | 2003            | 2002            
|-------------------------------------------------------------------------------------------- | --------------- | ----------------
|BASIC EARNINGS PER COMMON SHARE:                                                             |                 |                 
|                                                                                             |                 |                 
|Net income                                                                                   | $    590,000    | $  1,084,000    
|Average common shares outstanding                                                            | 7,474,000       | 7,334,000       
|Basic Earnings Per Common Share                                                              | $          0.08 | $           0.15
|                                                                                             |                 |                 
|DILUTED EARNINGS PER COMMON SHARE:                                                           |                 |                 
|                                                                                             |                 |                 
|Net income                                                                                   | $    590,000    | $  1,084,000    
|Average common shares outstanding                                                            | 7,474,000       | 7,334,000       
|Common shares issuable in respect to options issued      to employees with a dilutive effect | 43,000          | 9,000           
|Total diluted common shares outstanding                                                      | 7,517,000       | 7,343,000       
|Diluted Earnings Per Common Share                                                            | $          0.08 | $           0.15
|                                                                                             |                 |                 





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EXHIBIT 11.2



BAIRNCO CORPORATION AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE

FOR THE NINE MONTHS ENDED OCTOBER 4, 2003 AND SEPTEMBER 28, 2002

(Unaudited)





|                                                                                             | 2003             | 2002            
|-------------------------------------------------------------------------------------------- | ---------------- | ----------------
|BASIC EARNINGS PER COMMON SHARE:                                                             |                  |                 
|                                                                                             |                  |                 
|Net income                                                                                   | $  2,060,000     | $  2,989,000    
|Average common shares outstanding                                                            | 7,416,000        | 7,331,000       
|Basic Earnings Per Common Share                                                              | $           0.28 | $           0.41
|                                                                                             |                  |                 
|DILUTED EARNINGS PER COMMON SHARE:                                                           |                  |                 
|                                                                                             |                  |                 
|Net income                                                                                   | $  2,060,000     | $  2,989,000    
|Average common shares outstanding                                                            | 7,416,000        | 7,331,000       
|Common shares issuable in respect to options issued      to employees with a dilutive effect | 16,000           | 6,000           
|Total diluted common shares outstanding                                                      | 7,432,000        | 7,337,000       
|Diluted Earnings Per Common Share                                                            | $           0.28 | $           0.41
|                                                                                             |                  |                 





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