EMC CORPORATION
Exhibit 11.1 Computation of Primary and Fully Diluted Net Income Per Share
(Amounts in thousands except share and per share data)
Three Months Ended
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March 30, April 1,
1996 1995
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PRIMARY
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Net income $ 84,545 $ 85,449
Add back interest expense
on convertible notes 2,440 2,440
Less tax effect on interest
expense on convertible notes (976) (976)
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Net income for purposes of calculating
primary net income per share $ 86,009 $ 86,913
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Weighted average shares
outstanding during the period 230,488,964 214,045,611
Common equivalent shares 18,050,105 21,034,178
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Common and common equivalent shares
outstanding for purpose of calculating
primary net income per share 248,539,069 235,079,789
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Primary net income per share (Note 4) $0.35 $0.37
FULLY DILUTED
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Net income $ 84,545 $ 85,449
Add back interest expense on
convertible notes and debentures 2,440 3,055
Less tax effect on interest expense
on convertible notes and debentures (976) (1,222)
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Net income for purpose of calculating
fully diluted net income per share $ 86,009 $ 87,282
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Common and common equivalent shares
outstanding for purpose of calculating
primary net income per share 248,539,069 235,079,789
Incremental shares to reflect full dilution,
primarily from convertible subordinated
debentures in 1995 340,230 12,342,764
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Total shares for purpose of calculating
fully diluted net income per share 248,879,299 247,422,553
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Fully diluted net income per share (Note 4) $0.35 $0.35