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EXHIBIT 11.1
INFINITY FINANCIAL TECHNOLOGY, INC.
STATEMENT OF COMPUTATION OF NET INCOME PER SHARE(1)
(In thousands, except per share data - unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
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1996 1995 1996 1995
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Net income .............................................. $ 1,294 $ 760 $ 3,777 $ 2,549
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PRIMARY:
Weighted average common shares outstanding .............. 12,151 11,447 11,945 10,835
Common stock equivalents:
Preferred stock using the as if converted method 3,083 3,083 3,083 3,083
Stock options using the treasury stock method .. 1,487 2,155 1,738 2,185
Shares related to Staff Accounting Bulletin topic 4D:
Shares of common stock ......................... 770 770 770 770
Stock options .................................. 1,272 1,272 1,272 1,272
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Shares used in computing net income per share ........... 18,763 18,727 18,808 18,145
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Net income per share .................................... $ 0.07 $ 0.04 $ 0.20 $ 0.14
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FULLY DILUTED:
Weighted average common shares outstanding .............. 12,151 11,447 11,945 10,835
Common stock equivalents:
Preferred stock using the as if converted method 3,083 4,483 3,083 4,483
Stock options using the treasury stock method .. 1,497 2,172 1,753 2,264
Shares related to Staff Accounting Bulletin topic 4D:
Shares of common stock ......................... 770 770 770 770
Stock options .................................. 1,272 1,272 1,272 1,272
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Shares used in computing net income per share ........... 18,773 20,144 18,824 19,624
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Net income per share .................................... $ 0.07 $ 0.04 $ 0.20 $ 0.13
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(1) For an explanation of the number of shares used to compute net income per
share, see notes to condensed consolidated financial statements.