1
EXHIBIT 11.1
VIASAT, INC.
COMPUTATION OF EARNINGS PER SHARE
(UNAUDITED)
THREE MONTHS ENDED SIX MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
-------------------------- --------------------------
1997 1996 (1) 1997 1996 (1)
---------- ---------- ---------- ----------
Net Income $1,203,000 $ 604,000 $2,378,000 $1,082,000
========== ========== ========== ==========
Weighted average number of common
shares outstanding 7,792,402 3,432,297 7,768,262 3,392,911
Assumed conversion of preferred shares 2,365,538 2,365,538
Common stock equivalent shares 405,647 194,451 352,092 186,375
Effect of shares issued and options
granted at less than the offering price 136,652 175,811
---------- ---------- ---------- ----------
Total number of shares for computing
primary earnings per share 8,198,049 6,128,938 8,120,354 6,120,635
Incremental shares for computing fully
diluted earnings per share 43,767 15 84,656
---------- ---------- ---------- ----------
Total number of shares for computing
fully diluted earnings per share 8,241,816 6,128,953 8,205,010 6,120,635
========== ========== ========== ==========
Primary earnings per share $ .15 $ .10 $ .29 $ .18
========== ========== ========== ==========
Fully diluted earnings per share $ .15 $ .10 $ .29 $ .18
========== ========== ========== ==========
- ---------------
(1) Earnings per share calculations are pro forma.