Consumer Portfolio Services, Inc.
Statement Regarding Computation of Per Share Earnings (Loss)
Exhibit 11
Nine month transition
Primary earnings (loss) per share Year ended period ended
December 31, December 31, Year ended March 31,
------------------- --------------------- -------------------------------------
1996 1995 1995 1994 1993
---- ---- ---- ---- ----
Computation for Statement of Operations;
Net earnings (loss) per statement of
operations used in primary
earnings (loss) per share computation
Net earnings (loss) $ 14,097,376 $ 7,575,122 $6,665,630 $(1,778,069) $(1,502,272)
Interest on borrowings, net of tax effect,
on application of assumed proceeds from
exercise of warrants and options in excess
of 20% limitations - - - - -
------------------- --------------------- ---------- ----------- ------------
Net earnings (loss) as adjusted $ 14,097,376 $ 7,575,122 $6,665,630 $(1,778,069) $(1,502,272)
------------------- --------------------- ---------- ----------- ------------
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Weighted average number
of shares outstanding 13,489,247 11,582,625 8,903,596 8,520,548 6,378,082
Net shares issuable from assumed exercise
of warrants and options, as determined by
the application of the Treasury
Stock Method 1,360,362 2,740,967 2,240,172 - -
Weighted average number of -------------------- --------------------- ---------- ----------- ------------
shares outstanding 14,849,609 14,323,592 11,143,268 8,520,548 6,378,582
-------------------- --------------------- ---------- ----------- ------------
-------------------- --------------------- ---------- ----------- ------------
Primary earnings (loss) per -------------------- --------------------- ---------- ----------- ------------
share, as adjusted $ 0.95 $ 0.53 $ 0.60 $ (.21) $ (0.24)
-------------------- --------------------- ---------- ----------- ------------
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Consumer Portfolio Services, Inc.
Statement Regarding Computation of Per Share Earnings (Loss) - (continued)
Exhibit 11
Nine month transition
Fully diluted earnings (loss) per share Year ended period ended
December 31, December 31, Year ended March 31,
-------------- -------------- -------------------------------------------
Computation for Statement of Operations: 1996 1995 1995 1994 1993
---- ---- ---- ---- ----
Net earnings (loss) per statement of
operations used in fully diluted
earnings (loss) per share computation
Net earnings (loss) $ 14,097,376 $ 7,575,122 $ 6,665,630 $ (1,778,069) $ (1,502,272)
Interest on borrowings, net of tax effect,
on application of assumed proceeds from
exercise of warrants and options in excess
of 20% limitations - - - - -
Interest on borrowings, net of tax effect
on conversion of convertible
subordinated debt 169,575 127,823 301,990 - -
--------------- -------------- -------------- --------------- ---------------
Net earnings (loss) as adjusted $ 14,266,951 $ 7,702,945 $ 6,967,620 $ (1,778,069) $ (1,502,272)
--------------- -------------- -------------- --------------- ---------------
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Weighted average number
of shares outstanding 13,489,247 11,582,625 8,903,096 8,520,548 6,378,082
Net shares issuable from assumed exercise
of warrants and options, as determined by
the application of the Treasury
Stock Method 1,440,797 2,740,967 2,621,922 - -
Shares issuable from assumed conversion 480,000 480,000 1,013,334 - -
of subordinated debt
Weighted average number of --------------- -------------- -------------- --------------- ---------------
shares outstanding 15,410,044 14,803,592 12,538,352 8,520,548 6,378,082
--------------- -------------- -------------- --------------- ---------------
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Fully diluted earnings (loss) per --------------- -------------- -------------- --------------- ---------------
share, as adjusted $ 0.93 $ 0.52 $ 0.56 $ (0.21) $ (0.24)
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