BIO-VASCULAR, INC. EXHIBIT 11.1 - COMPUTATION OF INCOME (LOSS) PER SHARE (In thousands, except share data) Year Ended October 31, ---------------------------------------- 1995 1994 1993 -------- -------- -------- Per share data: Net income (loss) $ 2,186 $ (1,880) $ (158) ---------- ---------- ---------- ---------- ---------- ---------- Net income (loss) per common and common equivalent share, primary: Net income (loss) $ 0.27 $ (.26) $ (.02) ---------- ---------- ---------- ---------- ---------- ---------- Net income (loss) per common and common equivalent share, fully diluted: Net income (loss) $ 0.27 $ (.26) $ (.02) ---------- ---------- ---------- ---------- ---------- ---------- WEIGHTED AVERAGE NUMBER OF COMMON AND COMMON EQUIVALENT SHARES Primary: Weighted average number of common shares outstanding 7,571,369 7,276,581 7,055,254 Common equivalent shares: Dilutive stock options and warrants, using Treasury Stock Method 490,463 -- -- ---------- ---------- ---------- 8,061,832 7,276,581 7,055,254 ---------- ---------- ---------- ---------- ---------- ---------- Fully diluted: Weighted average number of common shares outstanding 7,571,369 7,276,581 7,055,254 Common equivalent shares: Dilutive stock options and warrants, using Treasury Stock Method 601,057 -- -- ---------- ---------- ---------- 8,172,426 7,276,581 7,055,254 ---------- ---------- ---------- ---------- ---------- ----------