EXHIBIT 11.1 COMPUTATION OF EARNINGS PER SHARE
CELLULAR TECHNICAL SERVICES COMPANY, INC.
COMPUTATION OF EARNINGS PER SHARE
(unaudited)
THREE MONTHS ENDED
MARCH 31,
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1996 1995
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Primary earnings per share:
Net income (loss) for calculation of primary
earnings per share $(2,500,559) $ 243,127
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Weighted average number of shares outstanding 10,804,450 9,876,404
Dilutive effect of outstanding stock options -
based upon the Treasury Stock Method using
average market price (1) 1,202,939
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Weighted average number of shares, as adjusted,
for calculation of primary earnings per share 10,804,450 11,079,343
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Primary earnings (loss) per share (2) $ (.23) $ .02
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(1) Common Stock equivalent shares have not been considered in the calculations
for the three month period ended March 31, 1996 because the effect would be
antidilutive.
(2) Fully diluted earnings per share computations are not included since they
would not materially change results presented on the primary earnings per
share basis.
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