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EXHIBIT 11.1
INFINITY FINANCIAL TECHNOLOGY, INC.
COMPUTATION OF NET INCOME PER SHARE(1)
SIX MONTHS ENDED
YEARS ENDED DECEMBER 31, JUNE 30,
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1993 1994 1995 1995 1996
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Net income................................... $ 717 $ 1,641 $ 3,449 $ 1,789 $ 2,483
Series B preferred stock redemption.......... (1,276)
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Net income attributable to
common stockholders........................ $ 717 $ 1,641 $ 2,173 $ 1,789 $ 2,483
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Primary:
Weighted average common
shares outstanding:........................ 8,845 9,578 11,115 10,528 12,365
Common stock equivalents:
Preferred stock using the as if converted
method.................................. 1,000 2,910 3,083 3,083 3,083
Stock options using the treasury stock
method.................................. 1,121 1,824 2,164 2,200 2,075
Shares related to staff accounting bulletin
topic 4D:
Shares of common stock.................. 770 770 770 770 770
Stock options........................... 1,272 1,272 1,272 1,272 1,272
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Shares used in computing net income per
share...................................... 13,008 16,354 18,404 17,853 19,565
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Net income per share......................... $ 0.06 $ 0.10 $ 0.12 $ 0.10 $ 0.13
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Fully diluted:
Weighed average common
shares outstanding:........................ 8,845 9,578 11,115 10,528 12,365
Common stock equivalents:
Preferred stock using the as if converted
method.................................. 2,400 4,310 3,083 4,483 3,083
Stock options using the treasury stock
method.................................. 1,229 1,936 2,236 2,311 2,096
Shares related to staff accounting bulletin
topic 4D:
Shares of common stock.................. 770 770 770 770 770
Stock options........................... 1,272 1,272 1,272 1,272 1,272
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Shares used in computing net income per
share...................................... 14,516 17,866 18,476 19,364 19,586
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Net income per share......................... $ 0.05 $ 0.09 $ 0.12 $ 0.09 $ 0.13
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(1) For an explanation of the number of shares used to compute net income per
share, see Note 1 of Notes to Consolidated Financial Statements.