EXHIBIT 11
ALPHAREL, INC.
STATEMENT RE COMPUTATION OF NET INCOME PER SHARE
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(Unaudited)
For the three months
ended March 31,
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1996 1995
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Net income per consolidated financial
statements $ 677,000 $ 225,000
Primary net income per share:
Weighted average common shares 18,053,000 13,741,000
Common stock equivalents:
Common stock options - 324,000
Common stock warrants 760,000 -
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Weighted average shares outstanding 18,813,000 14,065,000
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Fully diluted net income per share:
Weighted average common shares 18,053,000 13,741,000
Common stock equivalents:
Common stock options - 324,000
Common stock warrants 760,000 -
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Weighted average shares outstanding 18,813,000 14,065,000
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Net income per share:
Primary $ .04 $ .02
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Fully diluted $ .04 $ .02
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