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(11)--STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE

EDAC TECHNOLOGIES CORPORATION




<TABLE>
<CAPTION>
                                    Three Months Ended                      Six Months Ended
                                            June 30                              June 30           
                                  ----------------------------          -------------------------
                                      1997            1996                1997              1996      
                                  ----------        ----------          ---------        ----------
<S>                               <C>              <C>                 <C>                <C>
Primary:                                                            
  Average shares outstanding       3,795,542         3,667,040          3,778,875         3,660,290
  Net effect of dilutive                                            
  stock options based on                                            
  the treasury stock method                                         
  using average market price         149,053           121,208            184,652           117,317
                                  ----------        ----------          ---------        ----------
                                                                    
                 TOTALS            3,944,595         3,788,248          3,963,527         3,777,607
                                  ==========        ==========          =========        ==========
                                                                    
                 Net income       $  262,418        $   23,175          $ 518,379        $   81,323
                                  ==========        ==========          =========        ==========
                                                                    
                 Net income                                         
                 per share        $     0.07        $     0.01          $    0.13        $     0.02
                                  ==========        ==========          =========        ==========
                                                                    
                                                                    
                                                                    
Fully diluted:                                                      
  Average shares outstanding       3,795,542         3,667,040          3,778,875         3,660,290
  Net effect of dilutive                                            
  stock options based on                                            
  the treasury stock method                                         
  using quarter end market                                          
  price if higher than                                              
  average market price               163,092           125,871            171,393           129,723
                                  ----------        ----------          ---------        ----------
                                                                    
                 TOTALS            3,958,634         3,792,911          3,950,268         3,790,013
                                  ==========        ==========          =========        ==========
                                                                    
                 Net income       $  262,418        $   23,175          $ 518,379        $   81,323
                                  ==========        ==========          =========        ==========
                                                                    
                 Net income                                         
                 per share        $     0.07        $     0.01          $    0.13        $     0.02
                                  ==========        ==========          =========        ==========
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