AMTECH SYSTEMS, INC. AND SUBSIDIARIES ------------------------------------- EXHIBIT 11 ---------- SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE ----------------------------------------------- FOR THE YEARS ENDED SEPTEMBER 30, 1997, 1996 AND 1995 ----------------------------------------------------- - -------------------------------------------------------------------------------- 1997 1996 1995 ---------- ---------- ---------- PRIMARY - -------------------------- Average number of common shares outstanding 4,168,111 4,175,728 3,802,853 Incremental shares attributable to warrants/options -- 2,165,299 -- ---------- ---------- ---------- Total shares used in the calculation 4,168,111 6,341,027 3,802,853 ========== ========== ========== Income from continuing operations $ 237,709 $ 197,591 $ 171,053 Interest net of tax assumed to be earned on additional short-term investments -- 145,981 -- ---------- ---------- ---------- Income from continuing operations as adjusted $ 237,709 $ 343,572 $ 171,053 ========== ========== ========== Earnings per share - continuing* $ .06 $ .05 $ .04 Net income $ 237,709 $ 508,683 $ 226,568 Interest net of tax assumed to be earned on additional short-term investments -- 145,981 -- ---------- ---------- ---------- Net income as adjusted $ 237,709 $ 654,664 $ 226,568 ========== ========== ========== Earnings per share* $ .06 $ .10 $ .06 * For fiscal 1997 and 1995, there were no incremental shares or earnings included in the calculation of earnings per share, because under the modified treasury stock method the warrants and stock options were anti-dilutive. AMTECH SYSTEMS, INC. AND SUBSIDIARIES ------------------------------------- EXHIBIT 11 - CONTINUED ---------------------- SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE ----------------------------------------------- FOR THE YEARS ENDED SEPTEMBER 30, 1997, 1996 AND 1995 ----------------------------------------------------- - -------------------------------------------------------------------------------- 1997 1996 1995 ---------- ---------- ---------- FULLY DILUTED - ------------------------------ Average number of common shares outstanding 4,168,111 4,175,728 3,802,853 Incremental shares attributable to warrants/options -- 2,165,299 -- ---------- ---------- ---------- Total shares used in the calculation 4,168,111 6,341,027 3,802,853 ========== ========== ========== Income from continuing operations $ 237,709 $ 197,591 $ 171,053 Interest net of tax assumed to be earned on additional short-term investments -- 134,072 -- ---------- ---------- ---------- Income from continuing operations as adjusted $ 237,709 $ 331,663 $ 171,053 ========== ========== ========== Earnings per share - continuing* $ .06 $ .05 $ .04 Net income $ 237,709 $ 508,683 $ 226,568 Interest net of tax assumed to be earned on additional short-term investments -- 134,072 -- ---------- ---------- ---------- Net income as adjusted* $ 237,709 $ 642,755 $ 226,568 ========== ========== ========== Earnings per share $ .06 $ .10 $ .06 * For fiscal 1997 and 1995, there were no incremental shares or earnings included in the calculation of earnings per share, because under the modified treasury stock method the warrants and stock options were anti-dilutive.