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EXHIBIT 11.01
HNC SOFTWARE INC.
STATEMENT REGARDING
COMPUTATION OF PER SHARE EARNINGS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
NINE MONTHS ENDED SEPTEMBER 30, YEAR ENDED DECEMBER 31,
1997 1996 1996 1995 1994
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FULLY FULLY FULLY FULLY FULLY
PRIMARY DILUTED PRIMARY DILUTED PRIMARY DILUTED PRIMARY DILUTED PRIMARY DILUTED
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NET INCOME $14,299 $14,299 $ 4,747 $ 4,747 $11,893 $11,893 $ 6,077 $ 6,077 $ 3,142 $ 3,142
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SHARES(1)
Weighted average common
shares outstanding 24,214 24,214 23,437 23,437 23,552 23,552 15,195 15,195 8,642 8,642
Weighted average common
stock options and warrants
as determined by application
of the treasury stock method(2) 1,359 1,666 1,879 1,957 1,796 1,795 1,958 2,155 1,427 1,504
Weighted average preferred
shares outstanding assuming
conversion to common stock(3) - - - - - - 4,454 4,454 8,552 8,552
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Pro forma weighted average
common and common equivalent
shares outstanding 21,607 21,804 18,621 18,698
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Weighted average common
and common equivalent
shares outstanding 25,573 25,880 25,316 25,394 25,348 25,347
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PRO FORMA NET INCOME PER
SHARE OF COMMON STOCK $ 0.28 $ 0.28 $ 0.17 $ 0.17
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NET INCOME PER SHARE OF
COMMON STOCK $ 0.56 $ 0.55 $ 0.19 $ 0.19 $ 0.47 $ 0.47
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PRO FORMA ADJUSTED
NET INCOME(4) $11,704 $11,704 $ 3,319 $ 3,319 $ 9,731 $9,731 $ 4,534 $ 4,534 $ 2,137 $ 2,137
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PRO FORMA ADJUSTED
NET INCOME PER SHARE
OF COMMON STOCK (4) $ 0.46 $ 0.45 $ 0.13 $ 0.13 $ 0.38 $ 0.38 $ 0.21 $ 0.21 $ 0.11 $ 0.11
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(1) All share and per share amounts have been adjusted to give retroactive
effect to the stock split, which occurred on April 3, 1996.
(2) Includes an adjustment for options pursuant to SAB No. 83 using the treasury
stock method at the initial public offering price of $7.00 per share for all
periods presented prior to or including the Company's public offering date
of June 26, 1995.
(3) All outstanding shares of the Company's preferred stock automatically
converted into shares of common stock upon the consummation of the Company's
initial public offering on June 26, 1995.
(4) Pro forma adjusted net income and net income per share give retroactive
effect to federal and state income taxes as if CompReview had filed
subchapter C corporation income tax returns for the periods presented.