EXHIBIT 11 ALPHAREL, INC. STATEMENT RE COMPUTATION OF NET INCOME PER SHARE (Unaudited) (In thousands except per share data) For the three months For the six months ended June 30, ended June 30, --------------------- ------------------ 1995 1994 1995 1994 ------ ------ ------ ------ Net income per consolidated financial statements $ 427 $ 101 $ 652 $ 318 ====== ====== ====== ====== Primary net income per share: Weighted average common shares 13,913 13,713 13,827 13,691 Common stock equivalents: Common stock options 155 360 239 374 Common stock warrants - - - - ------ ------ ------ ------ Weighted average shares outstanding 14,068 14,073 14,066 14,065 ====== ====== ====== ====== Fully diluted net income per share: Weighted average common shares 13,913 13,713 13,827 13,691 Common stock equivalents: Common stock options 155 360 239 374 Common stock warrants - - - - ------ ------ ------ ------ Weighted average shares outstanding 14,068 14,073 14,066 14,065 ====== ====== ====== ====== Net income per share: Primary $ .03 $ .01 $ .05 $ .02 ====== ====== ====== ====== Fully diluted $ .03 $ .01 $ .05 $ .02 ====== ====== ====== ====== 12