1 Exhibit 11.1 HARMONIC LIGHTWAVES, INC. COMPUTATION OF NET INCOME PER SHARE (In thousands, except per share data) (Unaudited) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 27, SEPTEMBER 29, SEPTEMBER 27, SEPTEMBER 29, 1996 1995 1996 1995 ------------ ------------- ------------- ------------- Net income $ 1,741 $ 1,358 $ 3,513 $ 2,921 ======= ======= ======= ======= Weighted average shares outstanding: Common stock 10,150 9,812 10,072 8,607 Common stock issuable upon exercise of options and warrants 1,427 1,552 1,355 1,491 ------- ------- ------- ------- Weighted average common shares and equivalents 11,577 11,364 11,427 10,098 ======= ======= ======= ======= Net income per share (1) $ 0.15 $ 0.12 $ 0.31 $ 0.29 ======= ======= ======= ======= (1) Computed in the manner described in Note 4 to Notes to Condensed Consolidated Financial Statements. 15