EXHIBIT 11.01
PORTOLA PACKAGING, INC. AND SUBSIDIARIES
COMPUTATION OF NET INCOME (LOSS) PER SHARE (1)
(IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED
YEAR ENDED AUGUST 31, NOVEMBER 30,
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1994 1995 1996 1995 1996
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Weighted average common shares outstanding for the period.... 11,087 11,393 11,800 12,077 11,813
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Shares used in per share calculation......................... 11,087 11,393 11,800 12,077 11,813
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Income (loss) before extraordinary items and cumulative
effect of change in accounting principle................... $ 1,100 $ 140 $ (8,177) $ 796 $ (926)
Less the increase in the put value of warrants............... (455) (610) (895) (206) (256)
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Income (loss) before extraordinary item...................... $ 645 $ (470) $ (9,072) $ 590 $ (1,182)
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Cumulative effect of change in accounting principle.......... $ 85 $ 1,265
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Net income (loss)............................................ $ 225 $ 140 $ (9,442) $ (469) $ (926)
Less the increase in the put value of warrants............... (455) (610) (895) (206) (256)
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Net income (loss)............................................ $ (230) $ (470) $ (10,337) $ (675) $ (1,182)
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Net income (loss) per share before extraordinary item and
cumulative effect of change in accounting principle........ $ 0.06 $ (0.04) $ (0.77) $ 0.05 $ (0.10)
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Cumulative effect of change in accounting priciple........... $ 0.01 $ (0.11)
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Net income (loss) per share.................................. $ (0.02) $ (0.04) $ (0.88) $ (0.06) $ (0.10)
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(1) There is no difference between primary and fully diluted net income (loss)
per share for all periods presented.