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Exhibit 11
Ballantyne of Omaha, Inc. and Subsidiaries
Computation of Net Loss Per Share of Common Stock
Three and Six Months Ended June 30, 2001 and 2000
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<Caption>
Three Months Ended Six Months Ended
June 30 June 30
------- -------
2001 2000 2001 2000
---- ---- ---- ----
BASIC NET LOSS PER SHARE
Net loss applicable to
common stock $ (939,216) $ (669,963) $ (1,403,289) $ (1,478,902)
Weighted average common
shares outstanding 12,512,672 12,461,187 12,512,672 12,460,255
-------------- -------------- ------------- --------------
Basic loss per share $ (0.08) $ (0.05) $ (0.11) $ (0.12)
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DILUTED NET LOSS PER SHARE
Net loss applicable to
common stock $ (939,216) $ (669,963) $ (1,403,289) $ (1,478,902)
Weighted average common
shares outstanding 12,512,672 12,461,187 12,512,672 12,460,255
Assuming conversion
of options outstanding * - - - -
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Weighted average common
shares outstanding, as adjusted 12,512,672 12,461,187 12,512,672 12,460,255
-------------- -------------- ------------- --------------
Diluted net loss per share $ (0.08) $ (0.05) $ (0.11) $ (0.12)
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*Because the Company reported net losses for the periods presented, the
calculation excludes the potential common shares from stock options as they are
anti-dilutive and would result in a reduction of loss per share. If the Company
had reported net income in those periods, there would have been 80,658 and
74,075 additional shares for the three and six months ended June 30, 2001 and
4,592 and 303,358 additional shares for the three and six months ended June 30,
2000.