1 EXHIBIT 11 IPL SYSTEMS, INC. ----------------- COMPUTATION OF NET LOSS PER COMMON SHARE ---------------------------------------- (Thousands of dollars except per share amounts) Three Months Ended ------------------ March 31, March 31, 1995 1994 ---------- ---------- Primary - - ------- Net loss $ ( 785) $ (1,166) ========== ========== Weighted average shares outstanding 5,382,119 5,381,519 Dilutive stock options based on the treasury stock method using average market price for the period - - ---------- ---------- Common shares used in calculation of net loss per share 5,382,119 5,381,519 ========== ========== Net loss per share $ ( 0.15) $ (0.22) ========== ========== Fully Diluted - - ------------- Net loss $ ( 785) $ (1,166) ========== ========== Weighted average shares outstanding 5,382,119 5,381,519 Dilutive stock options based on the treasury stock method using the higher of average or period end market price (A) 179,680 52,218 ---------- ---------- Common shares used in calculation of net loss per share 5,561,799 5,433,737 ========== ========== Net loss per share $ (0.14) $ (0.21) ========== ========== <FN> (A) This calculation is presented in accordance with Item 601 of Regulation S-X although it is not required by Paragraph 14 of APB Opinion No 15. 13