Exhibit 11
PIA MERCHANDISING SERVICES, INC.
COMPUTATION OF EARNINGS PER SHARE
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(IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS SIX MONTHS
ENDED JUNE 30, ENDED JUNE 30,
1996 1995 1996 1995
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PRIMARY
Net income $ 206 $ 736 $1,104 $1,439
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Common and common equivalent shares outstanding:
Weighted average shares of common stock 5,792 3,084 5,047 3,084
Options 547 175 531 175
Warrants 115 1,050 114 1,050
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Common and common equivalent shares used in
computing per share amounts 6,454 4,309 5,692 4,309
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Net income per common and common equivalent
share $ .03 $ .17 $ .19 $ .33
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FULLY DILUTED
Net income $ 206 $ 736 $1,104 $1,439
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Common and common equivalent shares outstanding:
Weighted average shares of common stock 5,792 3,084 5,046 3,084
Options 419 175 515 175
Warrants 101 1,050 101 1,050
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Common and common equivalent shares used in
computing per share amounts 6,311 4,309 5,662 4,309
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Net income per common and common equivalent
share $ .03 $ .17 $ .20 $ .33
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