Exhibit 11.1
Corporate Express, Inc.
Statement Regarding Computation of Net Income (Loss) Per Share
Primary Earnings Per Share
Year Ended Year Ended
February 28, 1995 March 2, 1996
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Income (loss) from continuing operations $ 12,149,000 $ 2,744,000
Preferred stock dividend (432,000) -
Discontinued operations - -
Extraordinary item 586,000 -
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Net income (loss) 12,303,000 2,744,000
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Income (loss) per share:
Continuing operations 0.24 0.04
Discontinued operations - -
Extraordinary item 0.01 -
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Net income (loss) per share $ 0.25 $ 0.04
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Weighted average shares outstanding 42,274,000 63,893,000
Common Stock Equivalents:
Preferred stock 3,192,000 -
Stock options and warrants 2,418,000 4,164,000
Convertible notes - (A)
Items issued within one year of IPO:
Preferred stock 460,500 (B) -
Stock options and warrants 318,000 (B) -
Common stock 532,500 (B) -
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Total weighted average shares outstanding 49,195,000 68,057,000
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Fully Diluted Earnings Per Share
Fully diluted earnings per share differs from primary earnings per share by less
than 3%.
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(A) Amounts are excluded from the calculation as they are anti-dilutive.
(B) Amounts represent stock issued within one year of the initial filing of the
registration statement in connection with the initial public offering at
below the IPO price and are net of shares repurchased under the treasury
stock method.
Exhibit 11.1
Corporate Express, Inc.
Statement Regarding Computation of Net Income (loss) Per Share
Primary Earnings Per Share
Three Months Three Months
Ended Ended
June 1, 1996 May 27, 1995
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Net income $ 9,616,000 $ 6,506,000
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Net income per share $ 0.13 $ 0.10
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Weighted average shares outstanding 69,111,690 59,086,500
Common Stock Equivalents:
Stock options and warrants 6,027,034 3,884,500
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Total weighted average shares outstanding 75,138,724 62,971,000
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Fully Diluted Earnings Per Share
Fully diluted earnings per share differs from primary earnings per share by less
than 3%.
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