COASTCAST CORPORATION COMPUTATION OF PER SHARE EARNINGS (UNAUDITED) Three Months Nine Months Ended September 30, Ended September 30, ---------------------------- ---------------------------- 1996 1995 1996 1995 ------------ ------------- ------------ ------------- Common stock outstanding at beginning of period 8,788,499 9,091,994 8,734,694 9,091,994 Repurchase of common stock (13,100) - (13,800) - Exercise of options 2,491 - 56,996 - -------------- -------------- -------------- -------------- Common stock outstanding at end of period 8,777,890 9,091,994 8,777,890 9,091,994 -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- Weighted average shares outstanding 8,788,476 9,091,994 8,771,111 9,091,994 Dilutive effect of stock options after application of treasury stock method 298,858 49,053 292,965 56,087 -------------- -------------- -------------- -------------- Total 9,087,334 9,141,047 9,064,076 9,148,081 -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- Net income $ 4,867,000 $ 41,000 $ 13,389,000 $ 3,787,000 -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- Net income per common and common equivalent share $ .54 $ .00 $ 1.48 $ .41 ------- ------- -------- ------- Exhibit 11.1 36