EXHIBIT 11.1 COMPUTATION OF EARNINGS PER SHARE
CELLULAR TECHNICAL SERVICES COMPANY, INC.
COMPUTATION OF EARNINGS PER SHARE
(in 000's, except per share amounts)
(unaudited)
Three Months Ended
March 31,
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1997 1996
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Primary earnings per share:
Net income (loss) for calculation
of primary earnings per share $ 4,414 $ (2,501)
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Weighted average number of shares outstanding 22,639 21,609
Dilutive effect of outstanding stock options - based
upon the Treasury Stock Method using average
market price1 1,072
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Weighted average number of shares, as adjusted, for
calculation of primary earnings per share 23,711 21,609
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Primary earnings (loss) per share2 $ .19 $ (.12)
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1 Common Stock equivalent shares have not been considered in the calculations
for the three month period ended March 31, 1996 because the effect would be
antidilutive.
2 Fully diluted earnings per share computations are not included since they
would not materially change results presented on the primary earnings per
share basis.
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