EXHIBIT 11.1
CAROLCO PICTURES INC.
COMPUTATION OF EARNINGS PER COMMON SHARE
Three Months Ended Nine Months Ended
September 30, September 30,
1993 1994 1993 1994
-------------------- -------------------
Weighted average shares outstanding 30,623,569 140,015,109 30,623,569 140,015,109
Less Treasury shares (2,027,381) (2,373,756) (1,530,400) (2,342,839)
------------ ----------- ----------- ------------
Total 28,596,188 137,641,353 29,093,169 137,672,270
============ ============ =========== ============
Loss from continuing operations ($12,769,000) ($8,306,000) ($31,828,000) ($31,528,000)
Preferred Dividends 0 (1,061,000) 0 (3,167,000)
------------ ------------ ------------- ------------
Loss from continuing operations
attributable to common shares ($12,769,000) ($9,367,000) ($31,828,000) ($34,695,000)
============= ============= ============= =============
Loss from continuing operations
per common share $(0.45) ($0.07) ($1.09) ($0.25)
============= ============= ============= =============
Equity in loss from discontinued operations of
affiliated company ($219,000) $0 ($1,398,000) $0
============= ============= ============= =============
Loss from discontinued operations per common share ($0.00) $0.00 ($0.05) $0.00
============= ============= ============= =============
Extrordinary gain on early extinguishment of debt $1,799,000 $0 $1,799,000 $0
============= ============= ============= =============
Income per share from extraordinary gain $0.06 $0.00 $0.06 $0.00
============= ============= ============= =============
Net loss ($11,189,000) ($8,306,000) ($31,427,000) ($31,528,000)
Preferred Dividends 0 (1,061,000) 0 (3,167,000)
------------- ------------- ------------- -------------
Net loss attributable to common shares ($11,189,000) ($9,367,000) ($31,427,000) ($34,695,000)
============= ============= ============= =============
Net loss per common share ($0.39) ($0.07) ($1.08) ($0.25)
============= ============ ============= =============