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

EDAC TECHNOLOGIES CORPORATION

<TABLE> 
<CAPTION> 
                                      Three Months Ended            Nine Months Ended                                  
                                          September 30                 September 30                                     
                                   ------------------------      -----------------------           
                                      1996          1995            1996         1995                              
                                   ----------    ----------      ----------   ----------                            
<S>                                <C>           <C>             <C>          <C>                   
Primary:                                                                                           
  Average shares outstanding        3,711,040    3,647,207        3,677,207    3,620,354           
  Net effect of dilutive                                                                           
  stock options based on                                                                           
  the treasury stock method                                                                        
  using average market price           69,485      129,020          101,007      159,791           
                                   ----------   ----------       ----------   ----------           
                                                                                                   
      TOTALS                        3,780,525    3,776,227        3,778,214    3,780,145           
                                   ==========   ==========       ==========   ==========           
                                                                                                   
      Net income (loss)            $  (51,645)  $  (46,230)      $   29,678   $   14,760           
                                   ==========   ==========       ==========   ==========           
                                                                                                   
      Net income (loss)                                                                            
      per share                    $    (0.01)  $    (0.01)      $     0.01   $     0.00           
                                   ==========   ==========       ==========   ==========           
                                                                                                   
Fully diluted:                                                                                     
  Average shares outstanding        3,711,040    3,647,207        3,677,207    3,620,354           
  Net effect of dilutive                                                                           
  stock options based on                                                                           
  the treasury stock method                                                                        
  using quarter end market                                                                         
  price if higher than                                                                             
  average market price                 66,522      139,816           84,405      145,174           
                                   ----------   ----------       ----------   ----------           
                                                                                                   
      TOTALS                        3,777,562    3,787,023        3,761,612    3,765,528           
                                   ==========   ==========       ==========   ==========           
                                                                                                   
      Net income (loss)            $  (51,645)  $  (46,230)      $   29,678   $   14,760           
                                   ==========   ==========       ==========   ==========           
                                                                                                   
      Net income (loss)                                                                            
      per share                    $    (0.01)  $    (0.01)      $     0.01   $     0.00           
                                   ==========   ==========       ==========   ==========            
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