Comarco (CMRO) 10-Q 2003 Q3 Quarterly report

EXHIBIT 11

SCHEDULE OF COMPUTATION OF NET INCOME (LOSS) PER SHARE

	Three Months Ended October 31,				Nine Months Ended October 31,
	2002		2001		2002			2001
Basic:
Net income (loss) before cumulative effect of accounting change	$	1,486	$	1,010	$	(5,777	)	$	3,631
Weighted average shares outstanding		6,987		7,002		6,975			7,040
Basic income (loss) per share before cumulative effect of accounting change	$	0.21	$	0.14	$	(0.83	)	$	0.52
Cumulative effect of accounting change	$	—	$	—	$	(2,926	)	$	—
Weighted average shares outstanding		6,987		7,002		6,975			7,040
Basic loss per share from cumulative effect of accounting change	$	—	$	—	$	(0.42	)	$	—
Net income (loss)	$	1,486	$	1,010	$	(8,703	)	$	3,631
Weighted average shares outstanding		6,987		7,002		6,975			7,040
Basic income (loss) per share	$	0.21	$	0.14	$	(1.25	)	$	0.52

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SCHEDULE OF COMPUTATION OF NET INCOME (LOSS) PER SHARE

	Three Months Ended October 31,						Nine Months Ended October 31,
	2002			2001			2002			2001
Diluted:
Net income (loss) before cumulative effect of accounting change	$	1,486		$	1,010		$	(5,777	)	$	3,631
Effect of subsidiary options		(36	)		(44	)		—			(178	)
Net income used in calculation of diluted income (loss) per share before cumulative effect of accounting change	$	1,450		$	966		$	(5,777	)	$	3,453
Weighted average shares outstanding		6,987			7,002			6,975			7,040
Effect of dilutive securities—stock options		23			86			—			96
Weighted average shares used in calculation of diluted income (loss) per share before cumulative effect of accounting change		7,010			7,088			6,975			7,136
Diluted income (loss) per share before cumulative effect of accounting change	$	0.21		$	0.14		$	(0.83	)	$	0.48
Cumulative effect of accounting change	$	—		$	—		$	(2,926	)	$	—
Effect of subsidiary options		—			—			—			—
Net loss used in calculation of diluted loss per share from cumulative effect of accounting change	$	—		$	—		$	(2,926	)	$	—
Weighted average shares outstanding		6,987			7,002			6,975			7,040
Effect of dilutive securities—stock options		23			86			—			96
Weighted average shares used in calculation of diluted loss per share from cumulative effect of accounting change		7,010			7,088			6,975			7,136
Diluted loss per share from cumulative effect of accounting change	$	—		$	—		$	(0.42	)	$	—
Net income (loss)	$	1,486		$	1,010		$	(8,703	)	$	3,631
Effect of subsidiary options		(36	)		(44	)		—			(178	)
Net income used in calculation of diluted income (loss) per share	$	1,450		$	966		$	(8,703	)	$	3,453
Weighted average shares outstanding		6,987			7,002			6,975			7,040
Effect of dilutive securities – stock options		23			86			—			96
Weighted average shares used in calculation of diluted income (loss) per share		7,010			7,008			6,975			7,136
Diluted income (loss) per share	$	0.21		$	0.14		$	(1.25	)	$	0.48

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