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EXHIBIT 11.1
International Alliance Services, Inc.
Earnings per Common Share Data
(Amounts in Thousands)
Net income and common shares used in the calculations of earnings per
common share for the years ended December 31, 1996, 1995, 1994, 1993 and 1992
were computed as follows:
1996(1)(2)
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Primary Fully Diluted 1995(1)(2) 1994(1)(2) 1993(1)(2) 1992(1)(2)
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Income:
Income From continuing operations . . . . . . $ 4,422 $ 4,422 $ 3,469 $ 3,500 $ 2,218 $ 1,372
Interest expense reduction, net of tax . . 39 30 - - - -
Interest income, net of tax . . . . . . . . 2,165 626 - - - -
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$ 6,617 $ 5,078 $ 3,469 $ 3,500 $ 2,218 $ 1,372
(38) (38) - - - -
Loss from discontinued operations ------- ------- ------- ------- ------- -------
Net income applicable to common stock . . . $ 6,579 $ 5,040 $ 3,469 $ 3,500 $ 2,218 $ 1,372
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Common Shares:
Weighted average common shares . . . . . . 17,863 17,863 14,760 14,760 14,760 14,760
Common stock equivalents . . . . . . . . . 14,350 14,350 2,196 2,196 2,196 2,196
------- ------- ------- ------- ------- -------
32,213 32,213 16,956 16,956 16,956 16,956
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(1) The Company has reflected the shares received in the RESI Transaction as
if the shares had been issued January 1, 1994.
(2) As a result of the significant number of warrants outstanding at December
31, 1996, 1995, 1994, 1993 and 1992, the Company computed weighted average
common shares under the modified treasury stock method.