HEMACARE CORPORATION
EXHIBIT 11
Basic and Diluted Net Income Per Share
<Table>
Three Months Ended Nine Months Ended
September 30, September 30
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2001 2000 2001 2000
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BASIC
Weighted average common shares
used to compute basic earnings
per share........................ 7,541,024 7,583,699 7,509,358 7,569,356
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Net income.......... $ 5,000 $ 301,000 $ 377,000 $ 952,000
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Basic net income per share........ $ 0.00 $ 0.04 $ 0.05 $ 0.13
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DILUTED
Weighted average common shares
used to compute basic earnings
per share........................ 7,541,024 7,583,699 7,509,358 7,569,356
Dilutive preferred equivalent
shares........................... - 500,000 - 500,000
Dilutive common equivalent shares
attributable to stock options
(based on average market price).. 834,762 761,289 698,224 752,984
Dilutive common equivalent shares
attributable to warrants
(based on average market price).. 50,788 40,532 39,402 69,929
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Weighted average common shares
and equivalents used to
compute diluted earnings
per share........................ 8,426,574 8,885,520 8,246,984 8,892,269
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Net income......... $ 5,000 $ 301,000 $ 377,000 $ 952,000
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Diluted net income per share...... $ 0.00 $ 0.03 $ 0.05 $ 0.11
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