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                                                                    EXHIBIT 11.1

                         FIREARMS TRAINING SYSTEMS, INC.
              STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
                      (In thousands, except per share data)



<TABLE>
<CAPTION>
                                                       Basic Earnings Per Share (1)                  Diluted Earnings Per Share (1)
                                                         Years Ended March 31,                               Years Ended March 31,
                                         1999          1998         1997                      1999         1998         1997
                                        ---------------------     ---------                 ---------    ---------    ---------
<S>                                     <C>            <C>        <C>                       <C>          <C>          <C>

Weighted average number of common
  shares outstanding                     20,686        20,408       51,887  (2)               20,686       20,408       51,887  (2)
Shares repurchased in conjunction with
  the Recapitalization                        -             -      (46,832) (3)                    -            -      (46,832) (3)
Shares issued in conjunction with the
  Recapitalization                            -             -       11,165  (4)                    -            -       11,165  (4)
Shares granted to management                  -             -           37  (5)                    -            -           37  (5)
Shares purchased by management                -             -          232  (5)                    -            -          232  (5)
Shares issued upon assumed exercise of
  outstanding warrants                        -             -            -                         -            -          188  (6)
Shares issued upon assumed exercise of
  outstanding options                         -             -            -                         -        1,048        1,332  (7)

Weighted average common and common     ----------------------     --------                  --------     --------     --------
  equivalent shares outstanding          20,686        20,408       16,489                    20,686       21,456       18,009
                                       ======================     ========                  ========     ========     ========

Net (loss)/ income                     $ (3,108)      $ 3,233      $ 9,014                  $ (3,108)     $ 3,233      $ 9,014
                                       ======================     ========                  ========     ========     ========

(Loss)/Earnings per share              $  (0.15)      $  0.16      $  0.55                  $  (0.15)     $  0.15      $  0.50
                                       ======================     ========                  ========     ========     ========
</TABLE>

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(1)  Shares reflect a 100,000-for-one stock split in July 1996 in connection
     with the recapitalization and a split of 1.66-for-one in October 1996.
(2)  Shares reflect the weighted average shares prior to the recapitalization of
     49,800,000 shares and the weighted average shares from the initial public
     offering in November 1996 of 6,000,000 shares.
(3)  Shares were repurchased from THIN International for $171.2 million in
     connection with the recapitalization and are assumed to be outstanding for
     all periods presented.
(4)  Shares were issued for $36 million in connection with the recapitalization
     and are assumed to be outstanding for all periods presented.
(5)  Shares purchased by or granted to management for approximately $3.25 per
     share which are assumed to be outstanding for all periods presented.
(6)  Represents warrants attached to the bridge notes, at approximately
     $0.000006 per warrant, which are assumed to be outstanding for all periods
     presented through the date of the offering, using the treasury stock method
     at the initial offering price of $14 per share. These warrants were
     repurchased and retired by the Company with proceeds from the offering.
(7)  Represents 1,742,834 stock options exercisable at approximately $3.25 per
     option, which are assumed to be outstanding for all periods presented,
     using the treasury stock method.