EXHIBIT 11.1 LHS GROUP INC. COMPUTATION OF NET EARNINGS PER SHARE Quarter Ended YEAR ENDED DECEMBER 31, March 31, ----------------------------------- --------------------------- 1994 1995 1996 1996 1997 -------- ------- ------- ----------- ----------- Primary and fully diluted: Weighted average shares of common stock and common stock equivalents outstanding during the year (1)..... 8,664,712 14,341,644 20,000,000 20,000,000 20,000,000 Effect of common stock equivalents issued subsequent to February 21, 1996 computed in accordance with the treasury stock method as required by the SEC (2)............... 1,977,003 1,977,003 1,977,003 1,977,003 1,977,003 ----------- ----------- ---------- ----------- ----------- Total......................................... 10,641,715 16,318,647 21,977,003 21,977,003 21,977,003 ========== =========== =========== =========== =========== Net earnings (loss)................................. $3,043,000 $ 284,000 $ 3,420,000 $ (799,000) $ 1,154,000 ========== =========== =========== =========== =========== Net earnings (loss) per share....................... $ 0.29 $ 0.02 $ 0.16 $ (0.04) $ 0.05 ========== =========== =========== =========== =========== - -------- (1) Includes weighted average outstanding shares of Series A convertible preferred stock, converted to common stock, as they are common stock equivalents. (2) Pursuant to Securities and Exchange Commission Staff Accounting Bulletin No. 83, common stock and common sock equivalents issued at prices below the initial public offering price per share ("cheap stock") during the twelve month period immediately preceding the initial filing date of the Company's Registration Statement for its public offering have been included as outstanding for all years presented prior to the initial public offering.