EXHIBIT 11.1
GENTLE DENTAL SERVICE CORPORATION
STATEMENT SHOWING CALCULATIONS OF EARNINGS (LOSS) PER SHARE <F1>
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
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YEARS ENDED DECEMBER 31, SIX MONTHS ENDED JUNE 30,
1993 1994 1995 1995 1996
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Weighted average number of common
shares outstanding 1,032 1,152 1,333 1,262 1,466
Weighted average number of common
stock equivalent shares from
exercise of stock options and
warrants issued before July 1,
1995 (using the modified treasury
stock method) -- 17 84 94 --<F2>
Weighted average number of common
stock equivalent shares from
exercise of stock options and
warrants issued after July 1,
1995 (using the modified treasury
stock method) 272 284 280 323 186
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Shares used in per share calculation 1,304 1,452 1,697 1,679 1,651
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Net income (loss) $ 243 $ 404 $ 257 $ 238 $ (384)
Accretion of mandatorily redeemable
common stock -- -- -- -- (69)
Modified treasury stock adjustments
to net income 305 162 147 98 17
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Net income (loss) applicable to
common stock $ 548 $ 566 $ 404 $ 336 $ (436)
============= ============ ============= ============== =============
Net income (loss) per share $ 0.42 $ 0.39 $ 0.24 $ 0.20 $ (0.26)
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<FN>
<F1> Gives effect to a one-for-two reverse split of the Company's common
stock to be executed before the completion of the proposed initial
public offering of the Company's common stock.
<F2> Excluded because their effect is anti-dilutive.
</FN>