EXHIBIT 11 INTERNATIONAL IMAGING MATERIALS, INC. CALCULATION OF NET INCOME PER SHARE OF COMMON STOCK (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Fiscal Year Ended March 31 -------------------------- 1995 1996 1997 ------- ------- -------- Net income $9,970 $9,903 $11,296 Weighted average shares outstanding 8,326 8,750 8,571 Common stock equivalents for restricted stock, stock options and warrants 767 474 396 ------ ------ ------- Weighted average common shares outstanding as adjusted 9,093 9,224 8,967 ====== ====== ======= Net income per share of common stock $ 1.10 $ 1.07 $ 1.26 ====== ====== =======