EXHIBIT 11
DYNAMIC MATERIALS CORPORATION
Statement Re: Computation of Net Income Per Share
THREE MONTHS ENDED NINE MONTHS ENDED
September 30, September 30, September 30, September 30,
1997 1996 1997 1996
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Weighted average common shares
outstanding............................. 2,714,371 2,527,000 2,669,434 2,516,796
Common stock equivalents resulting from
the application of the treasury stock
method to the assumed exercise of
outstanding stock options............... 166,520 173,657 209,782 152,933
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Total................................ 2,880,891 2,700,657 2,879,216 2,669,729
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Net income..................................... $ 462,921 $ 441,318 $1,605,486 $ 945,318
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Net income per share........................... $ 0.16 $ 0.16 $ 0.56 $ 0.35
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