EXHIBIT 11.1
AMERICAN MOBILE SATELLITE CORPORATION
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COMPUTATIONS OF EARNINGS PER COMMON SHARE
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(in thousands, except per share amounts)
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Three Months Ended Nine Months Ended
September 30, September 30,
1999 1998 1999 1998
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BASIC EARNINGS PER SHARE CALCULATION
Loss before extraordinary item ($53,893) ($39,384) ($139,413) ($109,779)
Extraordinary item (12,132) -- (12,132) --
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Net Loss ($66,025) ($39,384) ($151,545) ($109,779)
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Loss per common share before
extraordinary item ($1.18) ($1.24) ($3.79) ($3.71)
Extraordinary item per common share (0.27) -- (0.33) --
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Net Loss per common share ($1.45) ($1.24) ($4.12) ($3.71)
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Weighted-average common shares
outstanding 45,421 31,773 36,740 29,604
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DILUTED EARNINGS PER SHARE CALCULATION
Loss before extraordinary item ($53,893) ($39,384) ($139,413) ($109,779)
Extraordinary item (12,132) -- (12,132) --
-------- --------- -------- ----------
Net Loss ($66,025) ($39,384) ($151,545) ($109,779)
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Loss per common share before
extraordinary item ($1.05) ($1.24) ($3.29) ($3.70)
Extraordinary item per common share (0.24) -- (0.29) --
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Net Loss per common share ($1.29) ($1.24) ($3.58) ($3.70)
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Weighted-average common shares
outstanding (1) 51,157 31,836 42,349 29,670
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(1) Calculated as follows:
Historical weighted average number of
shares outstanding 45,421 31,773 36,740 29,604
Assumed exercise of stock options 1,449 -- 1,450 2
Assumed exercise of stock
purchase warrants 4,287 63 4,159 64
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51,157 31,836 42,349 29,670
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