Exhibit 11
PIA MERCHANDISING SERVICES, INC.
COMPUTATION OF EARNINGS PER SHARE
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(IN THOUSANDS, EXCEPT PER SHARE DATA)
Three Months Ended March 31,
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1996 1995
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PRIMARY
Net income $ 897 $ 703
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Common and common equivalent shares outstanding:
Weighted average shares of common stock 4,324 3,084
Options 497 175
Warrants 111 1,050
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Common and common equivalent shares used in
computing per share amounts 4,932 4,309
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Net income per common and common equivalent
share $ .18 $ .16
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FULLY DILUTED
Net income $ 897 $ 703
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Common and common equivalent shares outstanding:
Weighted average shares of common stock 4,324 3,084
Options 504 175
Warrants 112 1,050
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Common and common equivalent shares used in
computing per share amounts 4,940 4,309
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Net income per common and common equivalent
share $ .18 $ .16
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