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EXHIBIT 11.1
HARMONIC LIGHTWAVES, INC.
COMPUTATION OF NET INCOME (LOSS) PER SHARE(1)(2)
(IN THOUSANDS, EXCEPT PER SHARE DATA)
YEAR ENDED
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DECEMBER 31, DECEMBER 31, DECEMBER 31,
1996 1995 1994
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Net income (loss)......................................... $ 5,918 $ 4,121 $ (2,368)
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Weighted average shares outstanding:
Common stock............................................ 10,106 5,797 443
Mandatorily redeemable convertible preferred stock...... -- 3,129 7,095
Common stock issuable upon exercise of options and
warrants............................................. 1,368 1,456 638
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Weighted average common shares and equivalents............ 11,474 10,382 8,176
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Net income (loss) per share(1)(2)......................... $ 0.52 $ 0.40 $ (0.29)
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(1) Computed in the manner described in Note 1 to Notes to Consolidated
Financial Statements.
(2) Share and per share data adjusted to reflect a 1-for-3 reverse stock split
effective upon the reincorporation of the Company into Delaware in May 1995.