Exhibit 11.1
CONNER PERIPHERALS, INC.
(11.1) - STATEMENT RE: COMPUTATION OF EARNINGS/(LOSS) PER SHARE
(In thousands, except per share data)
Three months ended Six months ended
June 30, June 30,
------------------- -------------------
1994 1993 1994 1993
------- --------- ------- ---------
Primary:
Weighted average shares
outstanding 51,660 49,303 51,190 48,929
Net effect of dilutive
stock options 740 N/A 1,018 N/A
------- -------- ------- --------
Total 52,400 49,303 52,208 48,929
======= ======== ======= ========
Net income/(loss) $31,470 $(58,825) $55,274 $(81,369)
======= ======== ======= ========
Earnings/(loss) per share $ 0.60 $ (1.19) $ 1.06 $ (1.66)
======= ======== ======= ========
Fully diluted:
Weighted average shares
outstanding 51,660 49,303 51,190 48,929
Net effect of dilutive
stock options 746 N/A 1,023 N/A
Assumed conversion of:
6.75% Subordinated
Convertible Debentures 7,931 N/A 7,931 N/A
6.5% Subordinated
Convertible Debentures 14,375 N/A 14,375 N/A
------- -------- ------- --------
Total 74,712 49,303 74,519 48,929
======= ======== ======= ========
Net income/(loss) $31,470 $(58,825) $55,274 $(81,369)
Add:
6.75% Subordinated
Convertible Debenture
interest, net of income
taxes 2,290 N/A 4,580 N/A
6.5% Subordinated
Convertible Debenture
interest, net of income
taxes 3,308 N/A 6,615 N/A
------- -------- ------- --------
Total $37,068 $(58,825) $66,469 $(81,369)
======= ======== ======= ========
Earnings/(loss) per share $ 0.50 $ (1.19) $ 0.89 $ (1.66)
======= ======== ======= ========
____________________
N/A - not applicable, item is anti-dilutive and therefore excluded from the
calculation of earnings/(loss) per share