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EXHIBIT 11.2
LORAL SPACE & COMMUNICATIONS LTD.
COMPUTATION OF EARNINGS (LOSS) PER SHARE
(In thousands, except per share amounts)
(Unaudited)
NINE MONTHS ENDED
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SEPTEMBER 30, DECEMBER 31,
1997 1996
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Primary:
Weighted average common shares outstanding during the period..... 194,642 186,799
Assumed conversion of Series A Convertible Preferred Stock....... 45,897 42,198
Dilutive effect of stock options................................. * 399
-------- --------
240,539 229,396
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Net income (loss) applicable to common stockholders.............. $ (29,244) $ 8,877
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Primary earnings (loss) per share.................................. $ (0.12) $ 0.04
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Fully Diluted:
Weighted shares -- primary....................................... 240,539 229,396
Incremental increase to dilutive effect of stock options......... ** **
Weighted shares issuable upon conversion of Convertible Preferred
Equivalent Obligations or Series C Redeemable Preferred
Stock***...................................................... ** **
-------- --------
240,539 229,396
======== ========
Earnings:
Net income (loss) applicable to common stockholders.............. $ (29,244) $ 8,877
Interest expense on Convertible Preferred Equivalent Obligations,
net of tax or dividends on Series C Redeemable Preferred
Stock***...................................................... ** **
-------- --------
$ (29,244) $ 8,877
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Fully diluted earnings (loss) per share............................ $ (0.12) $ 0.04
======== ========
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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.