SPINE-TECH, INC.
EXHIBIT 11 - STATEMENT RE: COMPUTATION OF NET INCOME (LOSS) PER SHARE
Year ended December 31,
1996 1995 1994
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PRIMARY LOSS PER SHARE:
Average shares outstanding 9,831,733 5,633,473 2,090,000
Common share equivalents -- 1,534,143 --
SAB No. 83 shares -- for stock options
granted at an exercise price less than the
initial public offering price during the
12 months preceding the initial public
offering using the treasury method -- 93,850 375,398
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Total 9,831,733 7,261,466 2,465,398
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Net income (loss) $ (247,000) $ 268,000 $ (379,000)
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Net income (loss) per share $ (0.02) $ 0.04 $ (0.18)
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FULLY DILUTED LOSS PER SHARE:
Average shares outstanding 9,831,733 5,633,473 2,090,000
Common share equivalents -- 1,637,220 --
Preferred stock on an as if converted basis 2,277,208 4,135,232
SAB No. 83 shares -- for stock options
granted at an exercise price less than the
initial public offering price during the
12 months preceding the initial public
offering using the treasury method -- 93,850 375,398
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Total 9,831,733 9,641,751 6,600,630
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Net income (loss) $ (247,000) $ 268,000 $ (379,000)
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Net income (loss) per share $ (0.02) $ 0.03 $ (0.06)
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