ACCESS CORPORATION CALCULATION OF NET EARNINGS (LOSS) PER COMMON SHARE AND COMMON SHARE EQUIVALENTS YEAR ENDED APRIL 30 ----------------------------------------------------- 1993 1994 1995 1996 1997 -------------------------------------------------------------- Net earnings (loss) applicable to Common Share and Common Share Equivalents: Net earnings (loss) Before Cumulative Effect of change in Accounting Principle ($182,731) ($615,239) $129,370 $205,021 (1,050,732) 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 $547,269 ($615,239) $64,685 $102,511 (1,050,732) -------- ---------- ------- --------- ----------- 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 ($0.04) ($0.13) $0.01 $0.02 ($0.22) 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 $0.11 ($0.13) $0.01 $0.02 ($0.22)