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EXHIBIT 11.1
TYLAN GENERAL, INC.
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
YEAR ENDED SIX MONTHS ENDED
OCTOBER 31, APRIL 30,
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1994 1995 1995 1996
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Income before extraordinary item and cumulative effect
of change in accounting principle..................... $2,449 $5,388 $2,103 $4,872
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Net income.............................................. $2,449 $4,693 $1,408 $4,872
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Weighted Average Common and Common Equivalent Shares
Outstanding:
Weighted average common shares........................ 1,319 4,925 4,463 6,490
Common shares issued subsequent to December 1993(1)... 14
Common stock options granted subsequent to December
1993(1)............................................ 77
Assumed exercise of outstanding stock options and
warrants(2)........................................ 1,042 264 197 236
Assumed conversion of Series B and D convertible
preferred stock.................................... 1,548
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Total......................................... 4,000 5,189 4,660 6,726
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Income before extraordinary item and cumulative effect
of change in accounting principle applicable to common
stockholders.......................................... $2,449 $5,388 $2,103 $4,872
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Net income applicable to common stockholders............ $2,449 $4,693 $1,408 $4,872
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EARNINGS PER SHARE DATA(3)
Earnings per share before extraordinary items and
cumulative effect of change in accounting
principle.......................................... $ .61 $ 1.04 $ .45 $ .72
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Earnings per share.................................... $ .61 $ .90 $ .30 $ .72
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Weighted average common and common equivalent share
outstanding........................................... 4,000 5,189 4,660 6,726
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(1) Represents shares of common stock or common stock equivalents issued
subsequent to December 1993 at a price per share less than the offering
price of $7.00 per share. Such shares are considered to be cheap stock and,
accordingly, are reflected as being outstanding for all period presented.
See Note (2) below.
(2) Computed utilizing the treasury stock method. 1994 amount includes 887,845
shares for warrants exercised on January 27, 1995.
(3) Earnings per share is unchanged on a fully diluted basis for all periods
presented.