EXHIBIT 11.1
EMCON
COMPUTATION OF INCOME PER SHARE
(In thousands except per share data)
Three months ended Nine months ended
September 30, September 30,
1996 1995 1996 1995
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Net income ......................................................... $ 259 $ 650 $ 658 $1,758
Proforma interest income related to modified
treasury stock method ........................................... 58 59 74 194
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Adjusted net income ................................................ $ 317 $ 709 $ 732 $1,952
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Weighted average number of common shares
outstanding during the period ...................................... 8,512 8,296 8,483 8,255
Common equivalent share from outstanding
stock options using the modified treasury
stock method .................................................... 691 657 744 660
Incremental shares to reflect full dilution (1) ................. 0 0 0 0
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Total shares for purposes of calculating diluted
income per share (1) ............................................... 9,203 8,953 9,227 8,915
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Primary income per share ........................................... $ 0.03 $ 0.08 $ 0.08 $ 0.22
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Fully diluted income per share ..................................... $ 0.03 $ 0.08 $ 0.08 $ 0.22
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(1) This calculation is submitted in accordance with Regulation S-K Item
601(b)(11) although not required by footnote 2 to paragraph 14 to APB
opinion No. 15, because it results in dilution of less than 3%.
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