1 EXHIBIT 11.1 COMPUTATION OF NET INCOME PER COMMON SHARE (in thousands, except per share amounts) THREE MONTHS ENDED NINE MONTHS ENDED DECEMBER 31, DECEMBER 31, -------------------- -------------------- 1996 1995 1996 1995 ------- ------- ------- ------- Weighted average common shares outstanding 11,754 10,652 11,724 8,690 Dilutive effect of stock options 1,002 1,295 1,060 1,291 Mandatorily redeemable common stock issued to Adobe Ventures, L.P. on July 21, 1995 -- -- -- 159 Mandatorily redeemable convertible preferred stock -- -- -- 822 Dilutive effect of warrants 178 188 178 145 ------- ------- ------- ------- Number of shares used to compute net income per share 12,934 12,135 12,962 11,107 ======= ======= ======= ======= Net income $ 1,793 $ 777 $ 2,102 $ 1,581 ======= ======= ======= ======= Net income per share $ 0.14 $ 0.06 $ 0.16 $ 0.14 ======= ======= ======= ======= Page 21 of 21 Pages