EXHIBIT 11.01
PORTOLA PACKAGING, INC. AND SUBSIDIARIES
COMPUTATION OF NET INCOME (LOSS) PER SHARE (1)
(IN THOUSANDS, EXCEPT PER SHARE DATA)
SIX MONTHS ENDED
YEAR ENDED AUGUST 31, --------------------
-------------------------------- FEB. 29, FEB. 28,
1994 1995 1996 1996 1997
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Weighted average common shares outstanding for the period... 11,087 11,393 11,800 11,585 11,806
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Shares used in per share calculation........................ 11,087 11,393 11,800 11,585 11,806
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Income (loss) before extraordinary items and cumulative
effect of change in accounting principle.................. $ 1,100 $ 140 $ (8,177) $ (200) $ (5,235)
Less the increase in the put value of warrants.............. (455) (610) (895) (423) (526)
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Income (loss) before extraordinary item..................... $ 645 $ (470) $ (9,072) $ (623) $ (5,761)
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Cumulative effect of change in accounting principle......... $ 85
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Net income (loss)........................................... $ 225 $ 140 $ (9,442) $ (1,465) $ (5,235)
Less the increase in the put value of warrants.............. (455) (610) (895) (423) (526)
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Net income (loss)........................................... $ (230) $ (470) $ (10,337) $ (1,888) $ (5,761)
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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) $ (0.49)
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Cumulative effect of change in accounting priciple.......... $ 0.01
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Net income (loss) per share................................. $ (0.02) $ (0.04) $ (0.88) $ (0.16) $ (0.49)
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(1) There is no difference between primary and fully diluted net income (loss)
per share for all periods presented.