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                                                                    EXHIBIT 11.2
                                                                                


           HOME HEALTH CORPORATION OF AMERICA, INC.  AND SUBSIDIARIES

              COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE

              FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 1996
                                        
The following calculation is submitted in accordance with the Securities Act of
1934:


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                                        Three months ended                     Six months ended 
                                         December 31, 1996                    December 31, 1996
                               ----------------------------------    ----------------------------------
                                    Basic             Diluted             Basic             Diluted
                               -------------    -----------------    -------------    ----------------- 
                                             (in thousands, except per share data)
<S>                            <C>              <C>                  <C>              <C>
Net income                              $689                 $689           $2,044               $2,044
Dividends on preferred                         
 stock                                     -                    -               (6)                  (6)
Interest and dividends on                      
 convertible securities,                       
 net of tax                                -                   22                -                   83
                               -------------    -----------------    -------------    ----------------- 
Net income available to                        
common stockholders                     $689                 $711           $2,038               $2,121
                               =============    =================    =============    ================= 

Weighted average number of                     
 common shares outstanding                     
 during period                         8,377                8,444            8,201                8,234
                                         
Weighted average number of                     
 common shares subject to                      
 exercise under outstanding
 stock options and warrants,
 net of treasury shares assumed            
 repurchased                               -                  136                -                  148     
                                                                                 
Shares assumed issued in                       
 connection with                               
 conversion of convertible                     
 securities, as of the                         
 beginning of the period                   -                  152                -                  302
                               -------------    -----------------    -------------    ----------------- 
Weighted average number of                     
 common shares outstanding             8,377                8,732            8,201                8,684 
                               =============    =================    =============    ================= 
Net income per share                   $0.08                $0.08            $0.25                $0.24
                               =============    =================    =============    ================= 
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