Exhibit 11.1 IFX CORPORATION AND SUBSIDIARIES Computation of Earnings Per Common Share as Restated for the One-for-Five Reverse Split of Common Stock - Basic Earnings Per Share Computation Three Months Ended December 31, 1998 December 31, 1997 ----------------- ----------------- Earnings: Net income $ 649,100 $ 773,400 ========== ========== Shares: Weighted average number of common shares outstanding 6,367,496 6,279,130 ========== ========== Earnings per common share: Net income $ .10 $ .12 ========== ========== Six Months Ended December 31, 1998 December 31, 1997 ----------------- ----------------- Earnings: Net income $1,472,200 $1,661,100 ========== ========== Shares: Weighted average number of common shares outstanding 6,261,517 6,279,130 ========== ========== Earnings per common share: Net income $ .24 $ .26 ========== ========== IFX CORPORATION AND SUBSIDIARIES Computation of Earnings Per Common Share as Restated for the One-for-Five Reverse Split of Common Stock - Diluted Earnings Per Share Computation Three Months Ended December 31, 1998 December 31, 1997 ----------------- ----------------- Earnings: Net income $ 649,100 $ 773,400 ========== ========== Shares: Weighted average number of common shares outstanding 7,501,891 6,279,130 ========== ========== Earnings per common share: Net income $ .09 $ .12 ========== ========== Six Months Ended December 31, 1998 December 31, 1997 ----------------- ----------------- Earnings: Net income $1,472,200 $1,661,100 ========== ========== Shares: Weighted average number of common shares outstanding 6,612,624 6,279,130 ========== ========== Earnings per common share: Net income $ .22 $ .26 ========== ==========