1
EXHIBIT 11.1
HMT TECHNOLOGY CORPORATION
STATEMENT REGARDING COMPUTATION OF NET INCOME PER SHARE (1)
(In thousands, except per share data)
QUARTER ENDED SIX MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
1998 1997 1998 1997
---- ---- ---- ----
(Unaudited) (Unaudited)
Basic:
Weighted average shares outstanding
for the period...................... 43,570 41,832 43,461 41,484
------ ------- ------ -------
Shares used in computing per share
amounts............................. 43,570 41,832 43,461 41,484
====== ======= ====== =======
Net income available for common
stockholders........................ $505 $19,064 $1,597 $34,433
====== ======= ====== =======
Net income available for common
stockholders per share.............. $0.01 $0.46 $0.04 $0.83
====== ======= ====== =======
Diluted:
Weighted average shares outstanding
for the period...................... 43,570 41,832 43,461 41,484
Net effect of dilutive stock options-
based on the treasury stock method
using average market price.......... 1,680 2,965 1,804 2,977
Assumed conversion of 53/4%
convertible subordinated notes...... -- 9,684 -- --
------ ------- ------ -------
Shares used in computing per share
amounts............................. 45,249 54,482 45,264 54,145
====== ======= ====== =======
Net income available for common
stockholders........................ $505 $19,064 $1,597 $34,433
====== ======= ====== =======
Add 5 3/4% convertible subordinated
note interest, net of interest
capitalized and income tax effect... -- 1,541 -- 2,876
------ ------- ------ -------
Net income available for common
stockholders........................ $505 $20,705 $1,597 $37,309
====== ======= ====== =======
Net income available for common
stockholders per share.............. $0.01 $0.38 $0.04 $0.69
====== ======= ====== =======
(2) Diluted EPS for the three and six months ended September 30, 1998 does not
assume conversion of the Company's 5 3/4% convertible subordinated notes, as the
effect would be anti-dilutive.
15