1 EXHIBIT 11.1 THE CERPLEX GROUP, INC. EXHIBIT TO CONSOLIDATED FINANCIAL STATEMENTS COMPUTATION OF NET INCOME (LOSS) PER SHARE (in thousands, except per share data) Three months ended March 31 --------------------------- 1996 1995 ------ ------- WEIGHTED AVERAGE COMMON AND COMMON SHARES EQUIVALENT SHARES OUTSTANDING Average common stock outstanding 13,174 13,062 Dilutive stock options and warrants based on the treasury stock method using the average price(1) 1,366 ------- ------- Total 13,174 14,428 ======= ======= COMPOSITION OF NET INCOME Income (loss) from continuing operations $(1,573) $ 789 Income from discontinued operations 41 ------- ------- Net Income $(1,573) $ 830 ======= ======= PER SHARE DATA Continuing operations $ (.12) $ .06 Discontinued operations ------- ------- Net income per share $ (.12) $ .06 ======= ======= (1) Stock options and warrants were not assumed to be converted under the treasury stock method for the three month period ended March 31, 1996 because their effect would be anti-dilutive. 32