1 Exhibit 11.1 HARMONIC LIGHTWAVES, INC. COMPUTATION OF NET INCOME PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 28, June 30, JUNE 28, June 30, ------------------------ -------------------------- 1996 1995 1996 1995 ---- ---- ---- ---- Net income $ 1,126 $ 1,034 $ 1,772 $ 1,563 ======= ======= ======= ======= Weighted average shares outstanding: Common stock 10,078 8,392 10,031 8,005 Mandatorily redeemable convertible preferred stock --- --- --- --- Common stock issuable upon exercise of options and warrants 1,374 1,544 1,305 1,574 -------- ------- ------- ------- Weighted average common shares and equivalents 11,452 9,936 11,336 9,579 ====== ===== ====== ===== Net income per share (1) $ 0.10 $ 0.10 $ 0.16 $ 0.16 ====== ===== ====== ===== (1) Computed in the manner described in Note 4 to Notes to Condensed Consolidated Financial Statements. 15