1
EXHIBIT 11.1
STATEMENT RE: COMPUTATION OF PER SHARE INCOME (LOSS) OF ADMINISTAFF, INC.
THREE MONTHS SIX MONTHS
ENDED JUNE 30, ENDED JUNE 30,
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1996 1997 1996 1997
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PRIMARY
Average shares outstanding . . . . . . . . . . . . . . . . 10,726 13,449 10,726 12,964
Net effect of dilutive stock options - based on the
treasury stock method using average market price . . . 54 154 27 77
Net effect of dilutive stock warrants - based on the
treasury stock method using average market price . . . 124 502 62 251
Net effect of dilutive stock warrants - based on the
if-converted method . . . . . . . . . . . . . . . . . . * -- * --
Adjustment to give effect to shares optioned to employees
within 12 months of the initial filing on Form S-1 of an
initial public offering as outstanding as of the beginning
of each period presented based on the treasury stock
method using the offering price . . . . . . . . . . . . 58 -- 85 --
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Total . . . . . . . . . . . . . . . . . . . . . . . . . . 10,962 14,105 10,900 13,392
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Net income (loss) . . . . . . . . . . . . . . . . . . . . $ 552 $ 934 ($ 357) $ 927
Add interest from subordinated debt, net of taxes . . . . * -- * --
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Net income (loss) available for common shareholders . . . $ 552 $ 934 ($ 357) $ 927
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Per share amount . . . . . . . . . . . . . . . . . . . . . $ 0.05 $ 0.07 ($0.03) $ 0.07
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FULLY DILUTED
Average shares outstanding . . . . . . . . . . . . . . . . 10,726 13,449 10,726 12,964
Net effect of dilutive stock options - based on the
treasury stock method using ending market price . . . . 54 200 27 100
Net effect of dilutive stock warrants - based on the
treasury stock method using ending market price . . . . 124 518 62 259
Net effect of dilutive stock warrants - based on the
if-converted method . . . . . . . . . . . . . . . . . . * -- * --
Adjustment to give effect to shares optioned to employees
within 12 months of the initial filing on Form S-1 of an
initial public offering as outstanding as of the beginning
of each period presented based on the treasury stock
method using the offering price . . . . . . . . . . . . 58 -- 85 --
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Total . . . . . . . . . . . . . . . . . . . . . . . . . . 10,962 14,167 10,900 13,323
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Net income (loss) . . . . . . . . . . . . . . . . . . . . $ 552 $ 934 ($ 357) $ 927
Add interest from subordinated debt, net of taxes . . . . * -- * --
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Net income (loss) available for common shareholders . . . $ 552 $ 934 ($ 357) $ 927
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Per share amount . . . . . . . . . . . . . . . . . . . . . $ 0.05 $ 0.07 ($0.03) $ 0.07
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* Conversion of the stock warrants and options is not assumed in the
computation because their effect is antidilutive.