Exhibit 11

A.S.V., Inc. and Subsidiary
Computation of Earnings per Share
(In thousands, except share data)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2007		2006		2007		2006
Basic
Earnings
Net earnings	$	3,273	$	7,601	$	5,332	$	14,537
Shares
Weighted average number of common shares outstanding		26,667,845		26,996,267		26,691,970		27,042,771
Basic earnings per common share	$	.12	$	.28	$	.20	$	.54
Diluted
Earnings
Net earnings	$	3,273	$	7,601	$	5,332	$	14,537
Shares
Weighted average number of common shares outstanding		26,667,845		26,996,267		26,691,970		27,042,771
Assume the proceeds from the exercise of options together with the related income tax benefit and unrecognized compensation were used to repurchase shares issued upon exercise of options and warrants		407,794		529,760		439,455		657,852
Weighted average number of common and common equivalent shares outstanding		27,075,639		27,526,027		27,131,425		27,700,623
Diluted earnings per common share	$	.12	$	.28	$	.20	$	.52