EXHIBIT 11

Matria Healthcare, Inc. and Subsidiaries

Computation of Earnings per Share

(Amounts in thousands, except per share amounts)

(Unaudited)

	Three Months Ended
	March 31,
	2004	2003
Basic:
Net earnings	$ 930	$ 1,120
Shares:
Weighted average number of common shares outstanding	10,223	10,079
Net earnings per common share	$ 0.09	$ 0.11
Diluted:
Net earnings	$ 930	$ 1,120
Shares:
Weighted average number of common shares outstanding	10,223	10,079
Shares issuable from assumed exercise of options	629	15
	10,852	10,094
Net earnings per common share	$ 0.09	$ 0.11