ALLIANCE SEMICONDUCTOR CORPORATION COMPUTATION OF NET INCOME PER SHARE AND COMMON EQUIVALENT SHARES Quarter Ended June 30, 1996 1995 -------------------- --------------------- (in thousands, except per share data) Net income (loss)................................. $(10,035) $14,917 ========= ======= Weighted average number of common shares outstanding during the quarter................ 38,416 37,564 Weighted-average common stock equivalents (calculated using the "treasury stock" method) representing shares issuable upon exercise of employee stock options....................................... -- 3,921 Weighted-average common stock equivalents from warrants, calculated by the treasury stock method applied to warrants issued............. -- -- Weighted-average common stock equivalents from dilutive convertible preferred stock, calculated using the if converted method -- -- --------- -------- Weighted-average common shares and equivalents................................... 38,416 41,485 ========= ======= Net income (loss) per share....................... ($0.26) $ 0.36 ========= ======= 20