EXHIBIT 11 U.S. ELECTRICAR, INC. AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF NET LOSS PER SHARE (UNAUDITED) (In thousands, except for per share amounts) Three Months Ended April 30 Nine Months Ended April 30 --------------------------- -------------------------- 1995 1996 1995 1996 ------------ --------- ---------- ---------- NET LOSS $ (11,942) $ (3,498) $ (37,392) $ (7,898) WEIGHTED AVERAGE SHARES OUTSTANDING: (1) 18,934 62,665 17,954 58,804 NET LOSS PER COMMON SHARE ($0.63) ($0.06) ($2.08) ($0.13) (1) Common Stock equivalents are not included since the Company had net losses in the periods presented. 62