BOOMTOWN, INC. EXHIBIT 11.1 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (LOSS) OF THE COMPANY Three Months Ended Six Months Ended March 31, March 31, 1995 1996 1995 1996 ---------- ---------- ---------- ---------- Net income (loss) applicable to Common Stock $ 401,314 $ 48,362 $ 637,212 $ (308,615) ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Weighted average shares outstanding 9,226,627 9,242,634 9,225,601 9,237,854 Net effect of dilutive stock options based on the treasury stock method using the average market price 358,917 311,048 358,917 -- ---------- ---------- ---------- ---------- Total weighted average shares outstanding 9,585,544 9,552,010 9,584,518 9,242,634 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Net income (loss) per share of Common Stock $ 0.04 $ 0.01 $ 0.07 $ (0.03) ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- 33