Exhibit 11
DATARAM CORPORATION AND SUBSIDIARIES
Computation of Earnings per Share
Year ended April 30, 1997, 1996 and 1995
Year Ended April 30,
_________________________________________________________________________
1997 1996 1995
______________________ ______________________ _______________________
Primary Fully Diluted Primary Fully Diluted Primary Fully Diluted
_______ _____________ _______ _____________ _______ _____________
Shares:
Weighted averaged number
Of shares of common
Stock outstanding 3,360,975 3,360,975 3,816,261 3,816,261 3,796,526 3,796,526
Effect of dilutive
common stock options(1) 71,286 103,260 19,097 16,354
_________ _________ _________ _________ _________ _________
Adjusted shares 3,432,261 3,464,235 3,835,358 3,832,615 3,796,526 3,796,526
========= ========= ========= ========= ========= =========
Net Earnings (Loss) $3,769,000 $3,769,000 $1,450,000 $1,450,000 $(1,299,000) $(1,299,000)
__________ __________ __________ __________ _____________ ____________
Earnings (loss) per
Share (net earnings
(Loss) divided by
Adjusted shares) $ 1.10 $ 1.09 $ 0.38 $ 0.38 $ (0.34) $ (0.34)
__________ __________ __________ __________ _____________ ____________
(1) In 1995, the calculation was based solely on weighted averaged number of shares outstanding, as all
options were anti-dilutive.