CRA MANAGED CARE, INC. Calculation of Shares Used in Determining Earnings Per Share and Pro Forma Earnings Per Share for the Years Ended December 31, 1994, 1995 and 1996 Exhibit 11.1 1994 1995 1996 --------- --------- --------- Weighted average number of shares of 4,700,000 6,413,000 8,284,000 common stock outstanding during the period Common stock equivalents, under the 115,000 127,000 191,000 treasury stock method --------- --------- --------- 4,815,000 6,540,000 8,475,000 --------- --------- --------- --------- --------- --------- 27