1 EXHIBIT 11.1 MEGATEST CORPORATION STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (AMOUNTS IN THOUSANDS, EXCEPT FOR PER SHARE AMOUNTS) YEAR ENDED AUGUST 31, ------------------------------------------- 1995 1994 1993 ---- ---- ---- Weighted average number of common shares outstanding . . . . . . 7,230 7,008 3,579 Common share equivalents: Convertible preferred stock, assuming conversion . . . . . . . -- -- 868 Dilutive effect of stock options . . . . . . . . . . . . . . . -- 196 305 --------- --------- --------- Total average common and common equivalent shares . . . . . . . . 7,230 7,204 4,752 ========= ========= ========= Income (loss) before cumulative effect of accounting change . . . $ (12,190) $ 9,099 $ 5,279 Cumulative effect of change in accounting for income taxes . . . -- 1,700 -- --------- --------- --------- Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . $ (12,190) $ 10,799 $ 5,279 ========= ========= ========= Income (loss) per common and common equivalent share before accounting change . . . . . . . . . . . . . . . $ (1.69) $ 1.26 $ 1.11 Cumulative effect of change in accounting for income taxes per common and common equivalent share . . . . . . . . -- 0.24 -- --------- --------- --------- Net income (loss) per common and common equivalent share . . . $ (1.69) $ 1.50 $ 1.11 ========= ========= =========