Individual, Inc. Exhibit 11.1 Computation of Weighted Average Shares Used in Computing Loss Per Share Amounts Primary Fully Diluted Supplemental Type of Security Shares Shares Shares (1) - ----------------------------------------------------------------- ----------- ------------ ------------ For the twelve months ended December 31, 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) 315,821 315,821 315,821 Weighted average common stock issued during the period 12,341 12,341 12,341 Conversion of preferred stock and redeemable preferred stock into common stock (1) - - 7,625,210 ----------- ------------ ------------ Weighted average shares of common stock outstanding 1,994,164 1,994,164 9,619,374 =========== ============ ============ Net loss per common share ($4.05) ($4.05) ($0.67) =========== ============ ============ For the twelve months ended December 31, 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 3,335,909 3,335,909 3,335,909 Weighted average treasury stock repurchased during the period (1,233) (1,233) (1,233) Weighted average conversion of preferred stock and redeemable preferred stock into common stock (1) 5,949,340 5,949,340 7,625,210 =========== ============ ============ Weighted average shares of common stock outstanding 10,997,112 10,997,112 12,672,982 =========== ============ ============ Net loss per common share ($4.68) ($4.68) ($4.03) =========== ============ ============ (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.