EXHIBIT 11.1
PICO PRODUCTS, INC.
COMPUTATION OF PER SHARE EARNINGS
(IN THOUSANDS, EXCEPT EARNINGS PER SHARE)
Three Months Nine Months
Ended April 30, Ended April 30,
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1997 1996 1997 1996
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NET LOSS ATTRIBUTABLE
TO COMMON STOCK $(1,031) $ (247) $(1,281) $ (344)
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PRIMARY EARNINGS PER SHARE:
Weighted average number
of common shares
outstanding 4,157 3,821 4,090 3,719
Dilutive effect of stock
options and warrants
after application of
treasury stock method - - - -
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Number of shares used to
compute primary
earnings (loss) per share 4,157 3,821 4,090 3,719
Primary earnings (loss) per share $ (0.25) $(0.06) $(0.31) $(0.09)
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FULLY DILUTED EARNINGS PER SHARE:
Weighted average number
of common shares
outstanding 4,157 3,821 4,090 3,719
Dilutive effect of stock
options and warrants
after application of
treasury stock method - - - -
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Number of shares used to
compute fully diluted
earnings (loss) per share 4,157 3,821 4,090 3,719
Fully diluted earnings (loss)
per share $(0.25) $(0.06) $(0.31) $(0.09)
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