EXHIBIT 11.1
EMCON
COMPUTATION OF INCOME PER SHARE
(In thousands except per share data)
Three months ended
March 31,
1997 1996
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Net income ............................................................................... $ 691 $ 34
Proforma interest income related to modified
treasury stock method .................................................................. N/A 48
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Adjusted net income ...................................................................... $ 691 $ 82
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Weighted average number of common shares
outstanding during the period ........................................................... 8,535 8,457
Common and common equivalent shares outstanding
for the purpose of calculating primary net income per share ............................. 8,472 N/A
Common equivalent shares from outstanding
stock options using the modified treasury
stock method ............................................................................ N/A 959
Incremental shares to reflect full dilution (1) .......................................... 0 0
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Total shares for purposes of calculating diluted
income per share (1) .................................................................... 8,472 9,416
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Primary income per share ................................................................. $ 0.08 $ 0.01
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Fully diluted income per share ........................................................... $ 0.08 $ 0.01
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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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