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EXHIBIT 11.1
VIASAT, INC.
COMPUTATION OF PRO FORMA EARNINGS PER SHARE (UNAUDITED)
THREE MONTHS ENDED NINE MONTHS ENDED
DECEMBER 31, DECEMBER 31,
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1996 1995 1996 1995
------------ ------------ ------------ ------------
Net Income $ 853,000 $ 70,000 $ 1,935,000 $ 1,114,000
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Weighted average number of
common shares outstanding 6,426,022 3,310,468 5,981,583 3,244,506
Assumed conversion of preferred shares 2,365,538 2,365,538
Common stock equivalent shares 226,206 110,250 191,910 98,796
Effect of shares issued and options granted
at less than the offering price 136,652 117,207 136,652
Total number of shares for computing ------------ ------------ ------------ ------------
pro forma primary earnings per share 6,652,228 5,922,908 6,290,700 5,845,492
Incremental shares for computing fully
diluted earnings per share 46,098 35,156 11,454
Total number of shares for computing pro ------------ ------------ ------------ ------------
forma fully diluted earnings per share 6, 698,326 5,922,908 6,325,856 5,856,946
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Pro forma primary earnings per share $ .13 $ .01 $ .31 $ .19
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Pro forma fully diluted earnings per share $ .13 $ .01 $ .31 $ .19
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