EXHIBIT 11.1
EMCON
COMPUTATION OF INCOME PER SHARE
(In thousands except per share data)
Three months ended Six months ended
June 30, June 30,
1997 1996 1997 1996
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Net income ......................................................... $ 494 $ 365 $1,185 $ 399
Proforma interest income related to modified
treasury stock method ........................................... N/A 57 N/A 116
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Adjusted net income ................................................ $ 494 $ 422 $1,185 $ 515
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Weighted average number of common shares
outstanding during the period ................................... 8,534 8,481 8,534 8,463
Common and common equivalent shares
outstanding for the purpose of calculating
primary net income per share .................................... 8,519 N/A 8,496 N/A
Common equivalent share from outstanding
stock options using the modified treasury
stock method .................................................... N/A 716 N/A 779
Incremental shares to reflect full dilution (1) .................... 75 0 37 0
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Total shares for purposes of calculating diluted
income per share (1) ............................................ 8,594 9,197 8,533 9,242
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Primary income per share ........................................... $ 0.06 $ 0.05 $ 0.14 $ 0.06
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Fully diluted income per share ..................................... $ 0.06 $ 0.05 $ 0.14 $ 0.06
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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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