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SMC CORPORATION EXHIBIT 11
STATEMENT OF CALCULATION OF AVERAGE
COMMON SHARES OUTSTANDING
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Three Months Six Months
Ended Ended
June 30, 2000 June 30, 2000
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<S> <C> <C>
Basic Earnings Per Share:
Weighted average number of shares 5,780,599 5,780,599
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Diluted Earnings Per Share:
Weighted average number of shares 5,780,599 5,780,599
Stock option plan shares to be issued at prices - -
ranging from $3.813 to $9.00 per share
Total Diluted Shares 5,780,599 5,780,599
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Due to the Company's average stock price through June 30, 2000, stock options
accounted for using the treasury stock method would be antidilutive.
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