EXHIBIT 11 ACCESS CORPORATION CALCULATION OF NET EARNINGS (LOSS) PER COMMON SHARE AND COMMON SHARE EQUIVALENTS YEAR ENDED APRIL 30 1992 1993 1994 1995 1996 Net earnings (loss) applicable to Common Share and Common Share Equivalents: Net earnings (loss) Before Cumulative Effect of change in Accounting Principle $614,008 ($182,731) ($615,239) $129,370 $205,021 Cumulative Effect as of May 1,1992 of a change in the Accounting for income taxes, net of valuation allowance of $2,220,000 $730,000 Preferred Dividend ($64,685) ($102,510) Net earnings (loss) applicable to Common Shares and Common Share Equivalents After Cumulative Effect and Preferred Dividend $614,008 $547,269 ($615,239) $64,685 $102,511 ------------ ----------- ------------- ---------- ---------- Calculation of primary net earnings (loss) per Common Share and Common Share Equivalents: Average number of Common Shares and Common Share Equivalents outstanding; 4,865,559 4,865,559 4,865,559 4,865,559 4,865,559 ------------- ------------- ------------ ------------ ------------ Average number of Common Shares and Common Share Equivalents outstanding; 4,865,559 4,865,559 4,865,559 4,865,559 4,865,559 ------------ ------------ ----------- ------------ ------------ Primary net earnings (loss) per Common Share and Common Share Equivalent Before Cumulative Effect of change in Accounting Principle $0.13 ($0.04) ($0.13) $0.01 $0.02 Cumulative Effect of change in Accounting Principle per Common Shares and Common Share Equivalents $0.15 Primary net earnings (loss) per Common Share and Common Share Equivalent After Cumulative Effect of change in Accounting Principle $0.13 $0.11 ($0.13) $0.01 $0.02