Exhibit 11.1 VITRONICS CORPORATION AND SUBSIDIARIES CALCULATION OF NET INCOME PER COMMON SHARE (For the years ended December 31, 1996 and December 31, 1995) DECEMBER 31, 1996 -------------------------- FULLY PRIMARY DILUTED ------------ ------------ Net income........................................................ $ 802,000 $ 802,000 Weighted average shares outstanding: Common stock.................................................... 10,199,621 10,199,621 Stock options................................................... 379,052 388,475 Weighted averaged shares outstanding............................ 10,578,673 10,588,096 ------------ ------------ Income per share.................................................. $ .08 $ .08 DECEMBER 31, 1995 -------------------------- FULLY PRIMARY DILUTED ------------ ------------ Net income........................................................ $ 2,775,000 $2,848,000 Weighted average shares outstanding: Common stock.................................................... 8,576,217 8,576,217 Convertible debentures.......................................... -- 1,492,603 Warrants........................................................ 139,150 143,253 Stock options................................................... 452,790 475,648 Weighted averaged shares outstanding............................ 9,168,158 10,687,721 ------------ ------------ Income per share.................................................. $ .30 $ .27 32