1
Exhibit 11.1
PETE'S BREWING COMPANY AND SUBSIDIARY
COMPUTATION OF NET INCOME PER SHARE
IN ACCORDANCE WITH INTERPRETIVE RELEASE No. 34-9083
(in thousands, except per-share amounts)
For the three For the nine
months ended months ended
September 30, September 30,
------------------- -------------------
1996 1995 1996 1995
------ ---- ---- ------
Weighted average common shares
outstanding for the period . . . . . . . . 10,686 4,347 10,661 4,223
Preferred stock . . . . . . . . . . . . . . . . -- 3,305 -- 3,305
Common equivalent shares assuming
conversion of stock options and
warrants under the treasury stock
method . . . . . . . . . . . . . . . . . . 101 399 195 525
------- ------ ------ -----
Shares used in per share calculation . . . . . 10,787 8,051 10,856 8,053
Net income . . . . . . . . . . . . . . . . . . $ 330 $ 607 $1,677 $ 844
======= ====== ====== =====
Net income per share . . . . . . . . . . . . . $ 0.03 $ 0.08 $ 0.15 $0.10
======= ====== ====== =====