EXHIBIT 11.1 COMPUTATION OF EARNINGS PER SHARE
CELLULAR TECHNICAL SERVICES COMPANY, INC.
COMPUTATION OF EARNINGS PER SHARE
(unaudited)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1997 1996 1997 1996
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Primary earnings per share:
Net income (loss) for calculation of
primary earnings per share $(996) $(1,990) $ 3,418 $(4,491)
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Weighted average number of shares
outstanding 22,696,280 21,898,426 22,667,773 21,753,664
Dilutive effect of outstanding stock
options - based upon the Treasury
Stock Method using average market
price(1) 535,995
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Weighted average number of shares, as
adjusted, for calculation of primary
earnings per share 22,696,280 21,898,426 23,203,768 21,753,664
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Primary earnings (loss) per share (2) $ (.04) $ (.09) $ .15 $ (.21)
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(1) Common Stock equivalent shares have not been considered in the
calculations for the three and six month periods ended June 30, 1996 and the
three month period ended June 30, 1997 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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