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Exhibit 11.1
XETEL CORPORATION
COMPUTATION OF EARNINGS PER SHARE
IN THOUSANDS, EXCEPT SHARE DATA
(UNAUDITED)
Three Months Ended Nine Months Ended
December 26, December 27, December 26, December 27,
1998 1997 1998 1997
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Basic earnings per share:
Weighted average shares outstanding 9,118 8,840 9,062 8,824
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Net (loss) income $ (311) $ (388) $ 134 $ 128
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Basic (loss) earnings per share $ (0.03) $ (0.04) $ 0.01 $ 0.01
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Diluted earnings per share:
Weighted average shares outstanding 9,118 8,840 9,062 8,824
Common stock equivalents: stock options (1)(2) -- -- 388 734
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9,118 8,840 9,450 9,558
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Net (loss) income $ (311) $ (388) $ 134 $ 128
========== ========== ========== ==========
Diluted (loss) earnings per share $ (0.03) $ (0.04) $ 0.01 $ 0.01
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(1) Stock options based on the treasury stock method using average market price.
(2) Common stock equivalents were 0 and 577,000 for the three months ended
December 26, 1998 and December 27, 1997, respectively. Common stock equivalents
are included in the computation of diluted weighted average shares outstanding
only during periods that their inclusion would be dilutive.