EXHIBIT 11.1 COMPUTATION OF EARNINGS PER SHARE
CELLULAR TECHNICAL SERVICES COMPANY, INC.
COMPUTATION OF EARNINGS PER SHARE
(unaudited)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1996 1995 1996 1995
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Primary earnings per share:
Net income (loss) for
calculation of primary
earnings per share $(1,990,438) $ 492,510 $(4,490,997) $ 735,637
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Weighted average number of
shares outstanding 21,898,426 19,895,720 21,753,664 19,824,264
Dilutive effect of outstanding
stock options - based upon the
Treasury Stock Method using
average market price(1) 2,791,660 2,598,770
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Weighted average number of
shares, as adjusted, for
calculation of primary
earnings per share 21,898,426 22,687,380 21,753,664 22,423,034
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Primary earnings (loss) per
share(2) $ (.09) $ .02 $ (.21) $ .03
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(1) Common Stock equivalent shares have not been considered in the calculations
for the three and six month periods ended June 30, 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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