1 EPL Technologies, Inc. EXHIBIT 11.1 Computation of Earnings per Common Share and Fully Diluted Earnings per Common Share 2 EXHIBIT 11.1 EPL TECHNOLOGIES, INC. COMPUTATION OF LOSS PER COMMON SHARE AND FULLY DILUTED LOSS PER COMMON SHARE (in thousands except per share data) - -------------------------------------------------------------------------------- YEAR YEAR YEAR ENDED ENDED ENDED 12/31/96 12/31/95 12/31/94 (As Restated) Net Loss $(4,296) $(3,320) $(3,373) Accretion, discount and dividends on Preferred Stock 999 314 324 ------- ------- ------- Adjusted net loss for loss per share computation $(5,295) $(3,634) $(3,697) ======= ======= ======= Weighted average number of common shares $14,874 9,311 7,259 outstanding ======= ======= ======= Primary loss per share $ (0.36) $ (0.39) $ (0.51) ======= ======= ======= Net loss for fully diluted loss per common share $(4,296) $(3,320) $(3,373) computation ======= ======= ======= Weighted average number of common shares 14,874 9,311 7,259 outstanding Common share equivalent applicable to: Series A, convertible preferred stock 2,618 4,143 4,333 Series A, warrants 248 313 464 Series B, convertible preferred stock 266 Other warrants 499 1,530 1,031 Stock options outstanding 2,477 1,579 1,043 ------- ------- ------- Weighted average number of common shares and common share equivalents used to compute fully diluted loss per share 20,982 16,876 14,130 ======= ======= ======= Fully diluted loss per share $ (0.20) $ (0.20) $ (0.24) ======= ======= =======