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EXHIBIT 11.1
LORAL SPACE & COMMUNICATIONS LTD.
COMPUTATION OF EARNINGS (LOSS) PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
THREE MONTHS ENDED
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JUNE 30, SEPTEMBER 30,
1997 1996
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Primary:
Weighted average common shares outstanding during the period 192,289 187,831
Assumed conversion of Series A Convertible Preferred Stock 45,897 45,897
Dilutive effect of stock options * *
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238,186 233,728
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Net income (loss) applicable to common stockholders $ (13,243) $ 2,953
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Primary earnings (loss) per share $ (0.06) $ 0.01
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Fully Diluted:
Weighted shares - primary 238,186 233,728
Incremental increase to dilutive effect of stock options ** **
Weighted shares issuable upon conversion of Convertible
Preferred Equivalent Obligations or Series C Redeemable
Preferred Stock*** ** --
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238,186 233,728
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Earnings:
Net income (loss) applicable to common stockholders $ (13,243) $ 2,953
Interest expense on Convertible Preferred Equivalent
Obligations, net of tax ** --
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$ (13,243) $ 2,953
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Fully diluted earnings (loss) per share $ (0.06) $ 0.01
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* Dilutive effect of stock options is less than 3%.
** Effect is antidilutive.
*** The Convertible Preferred Equivalent Obligations were exchanged for
Series C Redeemable Preferred Stock on June 5, 1997.
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