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Exhibit 11.1
MEDICAL IMAGING CENTERS OF AMERICA, INC.
COMPUTATION OF EARNINGS PER SHARE
Three Months Ended June 30, Six Months Ended June 30,
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(in thousands except per share information) 1996 1995 1996 1995
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(B)
Net income for computation of primary earnings per share $1,287 $ 551 $1,599 $1,475
Fully diluted:
Adjustment for interest and amortization for the conversion of debentures 113 162 254 363
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Net income for computation of fully diluted earnings per share $1,400 $ 713 $1,853 $1,838
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Average shares:
Common shares 2,678 2,435 2,652 2,431
Stock option and warrant equivalent shares (A) 166 114 166 114
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Average shares for computation of primary earnings per share 2,844 2,549 2,818 2,545
Fully diluted:
Stock option and warrant equivalent shares - difference from primary (A) 10 -- 10 122
Average shares for conversion of debentures 422 -- 484 670
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Average shares for computation of fully diluted earnings per share 3,276 2,549 3,312 3,337
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Net income per share:
Primary $ 0.45 $ 0.22 $ 0.57 $ 0.58
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Fully diluted $ 0.43 $ 0.22 $ 0.56 $ 0.55
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(A) The treasury stock method was used to calculate the common stock equivalent
number of shares from options and warrants.
(B) Adjustments for interest and amortization, option and warrant equivalent
shares and additional shares from the conversion of debentures issued in
1989 are not included in the calculation for the quarter ended June 30, 1995
as their effect would be antidilutive.