EXHIBIT 11.1 SEAGATE TECHNOLOGY, INC. COMPUTATION OF NET INCOME PER SHARE (In thousands except per share data) Three Months Ended Nine Months Ended April 1, April 2, April 1, April 2, 1994 1993 1994 1993 ________ ________ ________ ________ PRIMARY Weighted average number of common shares outstanding during the period 71,140 67,530 70,098 67,159 Incremental common shares attributable to exercise of outstanding options (assuming proceeds would be used to purchase treasury stock) 2,656 2,586 2,539 2,581 ________ ________ ________ ________ Total shares 73,796 70,116 72,637 69,740 ======== ======== ======== ======== Net Income: Amount $ 67,046 $ 39,018 $ 145,856 $ 161,920 Per share $ 0.91 $ 0.56 $ 2.01 $ 2.32 FULLY DILUTED Weighted average number of common shares outstanding during the period 71,140 67,530 70,098 67,159 Incremental common shares attributable to exercise of outstanding options (assuming proceeds would be used to purchase treasury stock) and conversion of 6-3/4% and 5% convertible subordinated debentures 19,249 8,864 13,092 9,010 ________ ________ ________ ________ Total shares 90,389 76,394 83,190 76,169 ======== ======== ======== ======== Net Income: Amount $ 67,046 $ 39,018 $ 145,856 $ 161,920 Add 6-3/4% convertible subordinated debentures interest, net of income tax effect 2,810 2,850 8,429 8,569 Add 5% convertible subordinated debentures interest, net of income tax effect 2,112 -- 2,480 -- ________ ________ ________ ________ Total $ 71,968 $ 41,868 $ 156,765 $ 70,489 ======== ======== ======== ======== Per share $ 0.80 $ 0.55 $ 1.88 $ 2.24 ======== ======== ======== ========