HEMACARE CORPORATION
EXHIBIT 11
Net Income (Loss) per Common and Common Equivalent Share
Years Ended December 31,
1996 1995 1994
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INCOME (LOSS)
Income from continuing operations $(1,090,000) $ 480,000 $ 676,000
Loss from discontinued operations - (902,000) (2,964,000)
Gain (loss) on disposal of discontinued
operations, including provision for
operating losses during phase-out period 600,000 (3,114,000) -
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Net loss $ (490,000) $(3,536,000) $(2,288,000)
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PRIMARY
Weighted average number of shares
outstanding 6,350,000 5,693,000 5,061,000
Dilutive common equivalent shares
attributable to stock options (based on
average market price) - 122,000 170,000
Dilutive common equivalent shares
attributable to warrants (based on
average market price) - 29,000 10,000
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Total common and common equivalent
shares-primary 6,350,000 5,844,000 5,241,000
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Primary income (loss) per share based
on common and common equivalent
shares- primary:
Income from continuing operations $ (0.17) $ 0.08 $ 0.13
Loss from discontinued operations - (0.15) (0.57)
Gain (loss) on disposal of discontinued
operations, including provision
for operating losses during phase-
out period 0.09 (0.53) -
Net loss ----------- ----------- ------------
$ (0.08) $ (0.60) $ (0.44)
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FULLY DILUTED
Common and common equivalent shares
used in calculating primary earnings
per share 6,350,000 5,844,000 5,241,000
Dilutive common equivalent shares
attributable to stock options (based
on higher of ending or average market
price) - 8,000 1,000
Dilutive common equivalent shares
attributable to warrants (based on
higher of ending or average market price) - 10,000 3,000
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Total common and common equivalent shares
- fully diluted 6,350,000 5,862,000 5,245,000
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Fully diluted income (loss) per share
based on common and common
equivalent shares-fully diluted:
Income from continuing operations $ (0.17) $ 0.08 $ 0.13
Loss from discontinued operations - (0.15) (0.57)
Gain (loss) on disposal of discontinued
operations, including provision for
operating losses during phase-out period 0.09 (0.53) -
----------- ------------ ------------
Net loss $ (0.08) $ (0.60) $ (0.44)
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