EXHIBIT 11
TRO LEARNING, INC. AND SUBSIDIARIES
COMPUTATION OF INCOME (LOSS) PER SHARE
AND EQUIVALENT SHARE OF COMMON STOCK
(Unaudited, In Thousands, Except Per Share Data)
THREE MONTHS SIX MONTHS
ENDED APRIL 30, ENDED APRIL 30,
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1997 1996 1997 1996
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AVERAGE SHARES OUTSTANDING:
1. Weighted average number of shares of common stock
outstanding during the period...................... 6,225 6,100 6,203 6,090
2. Net additional shares assuming stock options exercised. --- --- --- ---
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3. Weighted average number of shares and equivalent
shares of common stock outstanding during the period 6,225 6,100 6,203 6,090
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INCOME (LOSS):
4. Net loss............................................. $ (2,281) $ (988) $ (4,596) $ (2,037)
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PER SHARE AMOUNTS:
Net loss (line 4/line 3)................................. $ (0.37) $ (0.16) $ (0.74) $ (0.33)
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