TRIMBLE NAVIGATION LIMITED EXHIBIT 11.1 Computation of Earnings (Loss) Per Share Years Ended December 31, -------------------------------------- 1996 1995 1994 - -------------------------------------------------------------------------------------------- (In thousands, except per share data) PRIMARY EARNINGS (LOSS) PER SHARE Computation of common and common equivalent shares outstanding: Common stock outstanding ........................ 22,005 19,949 18,340 Common stock options ............................ -- 1,159 689 Common stock warrants ........................... -- 198 33 ----------- ------- ------- Total weighted average common and dilutive common equivalent shares outstanding 22,005 21,306 19,062 =========== ======= ======= Net income (loss) .................................. $ (11,302) $11,261 $10,024 =========== ======= ======= Primary earnings (loss) per share .................. $ (0.51) $ 0.53 $ 0.53 =========== ======= ======= FULLY DILUTED EARNINGS (LOSS) PER SHARE Computation of common and common equivalent shares outstanding: Common stock outstanding ........................ 22,005 19,949 18,340 Common stock options ............................ -- 1,193 728 Common stock warrants ........................... -- 204 35 ----------- ------- ------- Total weighted average common and dilutive common equivalent shares outstanding 22,005 21,346 19,103 =========== ======= ======= Net income (loss) .................................. $ (11,302) $11,261 $10,024 =========== ======= ======= Fully diluted earnings (loss) per share ............ $ (0.51) $ 0.53 $ 0.53 =========== ======= ======= 67