Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

August 15, 1997

Documents

STATEMENT RE COMPUTATION OF RATIOS

Published on August 15, 1997



EXHIBIT 11
EMCORE CORPORATION
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
(Unaudited)


THREE MONTHS NINE MONTHS
ENDED JUNE 30, ENDED JUNE 30,
1997 1996 1997 1996

Income (loss) before extraordinary item . . . . . $830 ($1,482) ($5,862) ($3,189)
Extraordinary loss . . . . . . . . . . . . . . . (256)

Net income (loss) . . . . . . . . . . . . . . . . $830 ($1,482) ($6,118) ($3,189)

Primary earnings per share calculation:
Weighted average shares outstanding:
Common stock . . . . . . . . . . . . . . . . 5,915 2,994 4,242 2,994
Common stock equivalents(1) . . . . . . . . 2,393 1,444 481 1,444

Primary weighted average common shares and
equivalents . . . . . . . . . . . . . . . . . 8,308 4,438 4,723 4,438

Income (loss) before extraordinary item . . . . . $0.10 ($0.33) ($1.24) ($0.72)
Extraordinary loss . . . . . . . . . . . . . . . (0.06)

Net income (loss) per share . . . . . . . . . . . $0.10 ($0.33) ($1.30) ($.72)

Fully diluted earnings per share
calculation:(2)
Weighted average shares outstanding:
Common stock . . . . . . . . . . . . . . . . 5,915 2,994 4,242 2,994
Common stock equivalents(1) . . . . . . . . 2,587 1,444 481 1,444

Fully-diluted weighted average common shares and
equivalents . . . . . . . . . . . . . . . . . 8,502 4,438 4,723 4,438

Income (loss) before extraordinary item . . . . . $0.10 ($0.33) ($1.24) ($0.72)
Extraordinary loss . . . . . . . . . . . . . . . (0.06)

Net income (loss) per share . . . . . . . . . . . $0.10 ($0.33) ($1.30) ($.72)


(1) Under the provisions of Securities and Exchange Commission Staff Bulletin
No. 64 ("SAB" No. 64), common stock and common stock equivalents issued
by the company within one year or in contemplation of the Company's
offering are treated as if they were outstanding for all periods
presented prior to the Company's IPO. After the IPO is effective, the
determination of common stock and equivalents has been determined on a
basis consistent with APB Opinion No. 15, which states "outstanding
options and warrants should be included in the EPS computation only if
they have a dilutive effect."
(2) This calculation is submitted in accordance with Securities Exchange Act
of 1934 Release No. 9083 although not required by footnote 2 of paragraph
14 of APB Opinion No. 15 because it results in dilution of less than 3%.