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Exhibit 11
Ballantyne of Omaha, Inc. and Subsidiaries
Computation of Net Loss Per Share of Common Stock
Three and Nine Months Ended September 30, 2001 and 2000
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<Caption>
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------------- ---------------------------
2001 2000 2001 2000
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BASIC NET LOSS PER SHARE
Net loss applicable to
common stock $ (846,433) $(1,066,937) $(2,249,722) $(2,545,839)
Weighted average common
shares outstanding 12,512,672 12,480,192 12,512,672 12,466,949
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Basic loss per share $ (0.07) $ (0.09) $ (0.18) $ (0.20)
========== =========== ========== ==========
DILUTED NET LOSS PER SHARE
Net loss applicable to
common stock $ (846,433) $(1,066,937) $(2,249,722) $(2,545,839)
Weighted average common
shares outstanding 12,512,672 12,480,192 12,512,672 12,466,949
Assuming conversion
of options outstanding * - - - -
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Weighted average common
shares outstanding, as adjusted 12,512,672 12,480,192 12,512,672 12,466,949
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Diluted net loss per share $ (0.07) $ (0.09) $ (0.18) $ (0.20)
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*Because the Company reported net losses for the three and nine months ended
September 30, 2001 and 2000, respectively, the calculation of net loss per share
- - diluted excludes 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 for the three and nine months ended September 30, 2001,
there would have been 75,711 and 73,990 additional shares in the calculation of
net income per share - diluted. If the Company had reported net income for the
three and nine months ended September 30, 2000, there would have been 13,233 and
113,205 additional shares in the calculation of net income per share - diluted.