DATA SYSTEMS & SOFTWARE INC. AND SUBSIDIARIES Calculation of Primary Earnings Per Common Share Exhibit 11.1 Six months ended June 30, Three months ended June 30, ------------------------- --------------------------- 1995 1996 1995 1996 ---- ---- ---- ---- Net income $1,630,453 $1,063,810 $979,129 $308,981 ========== ========== ======== ======== Weighted average number of: Common shares outstanding 6,830,305 7,310,514 6,856,760 7,361,402 Dilutive common equivalents 30,502 114,814 28,127 172,626 ---------- ---------- -------- -------- Total 6,860,807 7,425,328 6,884,887 7,534,028 ========== ========== ======== ======== Earnings per share $0.24 $0.14 $0.14 $0.04 ========== ========== ======== ======== Earnings per share assuming full dilution are identical to primary earnings per share.