EXHIBIT 11.1
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SYNBIOTICS CORPORATION
COMPUTATION OF (LOSS) EARNINGS PER SHARE
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NINE MONTHS ENDED YEAR ENDED MARCH 31,
DECEMBER 31, --------------------------
1994 1994 1993
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PRIMARY (LOSS) EARNINGS PER SHARE:
Net (loss) income per statement of operations $(1,058,000) $ 357,000 $(1,628,000)
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Weighted average number of shares outstanding 5,803,000 5,859,000 5,148,000
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Primary net (loss) income per share $ (.18) $ .06 $ (.32)
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FULLY DILUTED (LOSS) EARNINGS PER SHARE:/(1)/
Net (loss) income per statement of operations $(1,058,000) $ 357,000 $(1,628,000)
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Reconciliation of weighted average number of shares per
primary computation above, to amount used for fully
diluted computation:
Weighted average number of shares outstanding, per
primary computation 5,803,000 5,859,000 5,148,000
Add - effect of outstanding options and warrants (as
determined by the application of the treasury method) 27,000 - 59,000
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Weighted average number of shares, as adjusted 5,830,000 5,859,000 5,207,000
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Fully diluted net (loss) income per share $ (.18) $ .06 $ (.31)
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/(1)/ This calculation is submitted, for the nine months ended December 31, 1994
and the year ended March 31, 1993, in accordance with Regulation S-B Item
601(b)(11) although it is contrary to paragraph 40 of APB Opinion No. 15
because it produces an anti-dilutive result.