Exhibit 11
Individual, Inc.
Computation of Weighted Average Shares
Used in Computing Loss Per Share Amounts
(Unaudited)
Primary Fully Diluted Supplemental
Type of Security Shares Shares Shares (1)
- ------------------------------------------------------- ------------- -------------- --------------
For the three months ended June 30, 1995:
Common stock less shares held in treasury, beginning of period 1,667,127 1,667,127 1,667,127
Cheap stock outstanding during the period (2) 346,210 346,210 346,210
Weighted average common stock issued during the period 713 713 713
Conversion of preferred stock and redeemable preferred stock
into common stock (1) - - 7,625,210
----------- ------------ -----------
Weighted average shares of common stock outstanding 2,014,050 2,014,050 9,639,260
=========== ============ ===========
Net loss per common share ($0.90) ($0.90) ($0.15)
=========== ============ ===========
For the three months ended June 30, 1996:
Common stock less shares held in treasury, beginning of period 11,958,410 11,958,410 11,958,410
Weighted average common stock issued during the period 466,468 466,468 466,468
Weighted average treasury stock repurchased during the period (404) (404) (404)
----------- ------------ -----------
Weighted average shares of common stock outstanding 12,424,474 12,424,474 12,424,474
=========== ============ ===========
Net loss per common share ($3.09) ($3.09) ($3.09)
=========== ============ ===========
Primary Fully Diluted Supplemental
Type of Security Shares Shares Shares (1)
- ------------------------------------------------------- ------------- -------------- --------------
For the six months ended June 30, 1995:
Common stock less shares held in treasury, beginning of period 1,666,002 1,666,002 1,666,002
Cheap stock outstanding during the period (2) 346,210 346,210 346,210
Weighted average common stock issued during the period 1,345 1,345 1,345
Conversion of preferred stock and redeemable preferred stock
into common stock (1) - - 7,625,210
----------- ------------ -----------
Weighted average shares of common stock outstanding 2,013,557 2,013,557 9,638,767
=========== ============ ===========
Net loss per common share ($1.88) ($1.88) ($0.32)
=========== ============ ===========
For the six months ended June 30, 1996:
Common stock less shares held in treasury, beginning of period 1,713,096 1,713,096 1,713,096
Common stock outstanding during the period 1,796,992 1,796,992 1,796,992
Weighted average treasury stock repurchased during the period (801) (801) (801)
Weighted average conversion of preferred stock and redeemable
preferred stock into common stock (1) 4,273,470 4,273,470 7,625,210
----------- ------------ -----------
Weighted average shares of common stock outstanding 7,782,757 7,782,757 11,134,497
=========== ============ ===========
Net loss per common share ($5.31) ($5.31) ($3.67)
=========== ============ ===========
(1) Upon completion of the public offering on March 20, 1996, the redeemable
preferred stock and preferred stock converted to 7,625,210 shares of common
stock. Accordingly, the supplemental earnings per share calculation has
assumed the conversion of all shares of redeemable preferred stock and
preferred stock, effected for the 3-for-2 split, at the beginning of each
period presented.
(2) In accordance with the Securities and Exchange Commission, issuances of
common stock and common stock equivalents, within one year to the initial
filing of the registration statement, at share prices below the assumed initial
public offering price of $14.00 per share (cheap stock), are considered to have
been made in anticipation of the contemplated public offering. Accordingly,
these stock issuances are treated as if issued and outstanding, using the
treasury stock method, since the inception of the Company.
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