EXHIBIT 11.1
International Network Services
Statement of Computation of Net Income Per Share
Exhibit 11.1
(in thousands, except per share data)
Three months ended Six months ended
December 31, December 31,
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1996 1995 1996 1995
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Weighted average common shares outstanding 31,404 8,394 22,235 8,394
Weighted average common equivalent shares from Mandatorily
Redeemable Convertible Preferred Stock and warrants
calculated using the if-converted and treasury stock methods - 16,986 7,394 16,892
Weighted average common equivalent shares from stock options
and warrants calculated using the treasury stock method 2,339 2,569 1,662 2,564
Common equivalent shares from common shares issued and stock
options granted within twelve months of the intial public offering,
included pursuant to Staff Accounting Bulletin No. 83 - 2,634 1,143 2,634
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Shares used to compute net income per share 33,743 30,583 32,434 30,484
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Net income $ 1,834 $ 753 $ 3,017 $ 1,329
Net income per share $ 0.05 $ 0.02 $ 0.09 $ 0.04