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EXHIBIT 11
LORAL SPACE & COMMUNICATIONS LTD.
COMPUTATION OF EARNINGS (LOSS) PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
THREE MONTHS ENDED
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MARCH 31, JUNE 30,
1997 1996
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Primary:
Weighted average common shares outstanding during the period........ 191,092 181,473
Assumed conversion of Series A Convertible Preferred Stock.......... 45,897 34,801
Dilutive effect of stock options.................................... * 1,198
-------- --------
236,989 217,472
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Net income (loss)................................................... $ (406) $ 1,301
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Primary earnings per share............................................... $ 0.00 $ 0.01
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Fully Diluted:
Weighted shares - primary........................................... 236,989 217,472
Incremental increase to dilutive effect of stock options............ ** --
Weighted shares issuable upon conversion of Convertible Preferred
Equivalent Obligations............................................. ** --
-------- --------
236,989 217,472
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Earnings:
Net income (loss)................................................... $ (406) $ 1,301
Interest expense on Convertible Preferred Equivalent Obligations,
net of tax......................................................... ** --
-------- --------
$ (406) $ 1,301
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Fully diluted earnings per share......................................... $ 0.00 $ 0.01
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* Dilutive effect of stock options is less than 3%.
** Effect is antidilutive.