EXHIBIT 11.1
EMCON
COMPUTATION OF INCOME (LOSS) PER SHARE
(In thousands except per share data)
Twelve months ended
December 31,
1996 1995 1994
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Net income (loss) ......................................................... $(10,091) $ 1,786 $(1,917)
Pro forma interest income related to modified
treasury stock method ................................................ N/A 221 N/A
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Adjusted net income (loss) ................................................ $(10,091) $ 2,007 $(1,917)
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Weighted average number of common shares outstanding
during the period ......................................................... 8,485 8,274 7,919
Common equivalent shares from outstanding stock options using the
modified treasury stock method........................................ N/A 687 N/A
Incremental shares to reflect full dilution .......................... N/A 0 N/A
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Total shares for purposes of calculating diluted
income (loss) per share (1) ............................................... 8,485 8,961 7,919
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Primary income (loss) per share ........................................... $ (1.19) $ 0.22 $ (0.24)
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Fully diluted income (loss) per share ..................................... $ (1.19) $ 0.22 $ (0.24)
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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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