EXHIBIT 11 PAGE 1 OF 2 ECHOSTAR COMMUNICATIONS CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) PRIMARY EARNINGS PER SHARE CALCULATIONS Three Months Ended Nine Months Ended September 30, September 30, -------------------------- -------------------------- 1995 1996 1995 1996 ----------- ------------ ----------- ------------ (RESTATED) (RESTATED) INCOME DATA: Net loss................................. $ (360) $(26,518) $(4,387) $(56,293) Preferred stock dividends................ (301) (301) (903) (903) ------- -------- ------- ------- Net loss attributable to common shares... $ (661) $(26,819) $(5,290) $(57,196) ------- -------- ------- ------- ------- -------- ------- ------- COMMON AND COMMON EQUIVALENT SHARES: Weighted average common shares .......... 37,544 40,456 34,965 40,455 Equivalent common shares from warrants... -- (a) -- (a) -- (a) -- (a) Equivalent common shares from stock options........................... -- (a) -- (a) -- (a) -- (a) ------- -------- ------- ------- Common and common equivalent shares...... 37,544 40,456 34,965 40,455 ------- -------- ------- ------- ------- -------- ------- ------- EARNINGS PER COMMON SHARE: Net loss per common and common equivalent shares....................... $ (.02) $ (.66) $ (.15) $ (1.41) ------- -------- ------- ------- ------- -------- ------- ------- (a) Excludes common stock equivalents which are antidilutive. EXHIBIT 11 PAGE 2 OF 2 ECHOSTAR COMMUNICATIONS CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) FULLY DILUTED EARNINGS PER SHARE CALCULATIONS Three Months Ended Nine Months Ended September 30, September 30, -------------------------- -------------------------- 1995 1996 1995 1996 ----------- ------------ ----------- ------------ (RESTATED) (RESTATED) INCOME DATA: Net loss attributable to common shares... $ (661) $(26,819) $(5,290) $(57,196) ------- -------- ------- ------- ------- -------- ------- ------- COMMON AND COMMON EQUIVALENT SHARES: Weighted average common shares........... 37,544 40,456 34,965 40,455 Equivalent common shares from warrants... -- (a) -- (a) -- (a) -- (a) Equivalent common shares from stock options........................... -- (a) -- (a) -- (a) -- (a) Weighted average common shares from conversion of preferred stock........... -- (a) -- (a) -- (a) -- (a) ------- -------- ------- ------- Common and common equivalent shares...... 37,544 40,456 34,965 40,455 ------- -------- ------- ------- ------- -------- ------- ------- EARNINGS PER COMMON SHARE: Net loss per common and common equivalent shares....................... $ (.02) $ (.66) $ (.15) $ (1.41) ------- -------- ------- ------- ------- -------- ------- ------- (a) Excludes common stock equivalents and convertible preferred stock which are antidilutive.