EQUIMED, INC.
EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(in thousands, except per share amounts)
Three months Nine Months
ended September 30, ended September 30,
1995 1996 1995 1996
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Primary:
Weighted average common shares outstanding 20,784 28,590 20,784 27,337
Net effect of dilutive stock options and warrants-
based on the treasury stock method using
average market price - 14 - 109
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Weighted average common share and
equivalents outstanding 20,784 28,604 20,784 27,446
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Net income (loss) $ 2,631 $(21,673) $ 8,651 $(18,581)
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Net loss per share $ (.076) $ (0.68)
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Pro forma net income $ 1,831 $ 6,004
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Pro forma net income per share $ 0.09 $ 0.29
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Fully Diluted:
Weighted average common shares outstanding 20,784 28,590 20,784 27,338
Net effect of dilutive stock options and warrants-
based on the treasury stock method using the
June 30 price, if higher that average market price - 10 - 95
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Weighted average common share and
equivalents outstanding 20,784 28,600 20,784 27,433
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Net income (loss) $ 2,631 $(21,673) $ 8,651 $(18,581)
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Net loss per share $ (0.76) $ (0.68)
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Pro forma net income $ 1,831 $ 6,004
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Pro forma net income per share $ 0.09 $ 0.29
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