SYNBIOTICS CORPORATION EXHIBIT 11.1
------------
COMPUTATION OF EARNINGS PER SHARE
______________________________________________________________________________
Three Months Ended March 31,
----------------------------
1996 1995
------------- ------------
PRIMARY EARNINGS PER SHARE:
Net income per statement of operations $1,651,000 $ 754,000
========== ===========
Weighted average number of shares outstanding 5,911,000 5,803,000
========== ===========
Primary earnings per share $ .28 $ .13
========== ===========
FULLY DILUTED EARNINGS PER SHARE:
Net income per statement of operations $1,651,000 $ 754,000
========== ===========
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 5,911,000 5,803,000
Add-effect of outstanding options (as
determined by the application of the
treasury method) 13,000 3,000
---------- -----------
Weighted average number of shares, as adjusted 5,924,000 5,806,000
========== ===========
Fully diluted earnings per share $ .28 $ .13
========== ===========
1