SYNBIOTICS CORPORATION EXHIBIT 11.1
------------
COMPUTATION OF EARNINGS PER SHARE
- --------------------------------------------------------------------------------
Three Months Ended March 31,
---------------------------
1995 1994
----------- ----------
PRIMARY EARNINGS PER SHARE:
Net income per statement of operations $ 754,000 $ 419,000
=========== ==========
Weighted average number of shares outstanding 5,803,000 5,906,000
=========== ==========
Primary earnings per share $ .13 $ .07
=========== ==========
FULLY DILUTED EARNINGS PER SHARE:
Net income per statement of operations $ 754,000 $ 419,000
=========== ==========
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 5,906,000
Add-effect of outstanding options (as determined by
the application of the treasury method) 3,000 6,000
----------- ----------
Weighted average number of shares, as adjusted 5,806,000 5,912,000
=========== ==========
Fully diluted earnings per share $ .13 $ .07
=========== ==========
9