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11--STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE

EDAC TECHNOLOGIES CORPORATION





<TABLE>
<CAPTION>
                                                  Three Months Ended 
                                                        March 31       
                                                -----------------------
                                                    1997        1996
                                                ----------  -----------
<S>                                             <C>         <C>                
                                                                               
Primary:                                                                       
  Average shares outstanding                     3,762,208    3,653,540
  Net effect of dilutive stock                                                
     options based on the                                                     
     treasury stock method using                                              
     average market price                          130,207      111,764
                                                ----------  ----------- 
                                                                        
                         TOTALS                  3,892,415    3,765,304
                                                ==========  =========== 
                                                                        
          Net income                            $  255,961  $    58,148
                                                ==========  =========== 
                                                                        
          Net income per share                  $     0.07  $      0.02
                                                ==========  =========== 
                                                                               
                                                                               
                                                                               
Fully diluted:                                                                 
  Average shares outstanding                     3,762,208    3,653,540
  Net effect of dilutive stock                                                  
     options based on the                           
     treasury stock method using                    
     quarter end market price                       
     if higher than average                         
     market price                                  138,916      119,716
                                                ----------  ----------- 
                                                                               
                         TOTALS                  3,901,124    3,773,256
                                                ==========  =========== 
                                                                               
          Net income                            $  255,961  $    58,148
                                                ==========  =========== 
                                                                               
          Net income per share                  $     0.07  $      0.02
                                                ==========  =========== 
</TABLE>