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, 1996 1995 --------- --------- Primary - ------- Net income (loss) $ 230 $ (785) ========== ========== Weighted average shares outstanding 5,590,555 5,382,119 Dilutive stock options based on the treasury stock method using average market price for the period 149,059 -- ---------- ---------- Common shares used in calculation of net loss per share 5,739,614 5,382,119 ========== ========== Net income (loss) per share $ 0.04 $ (0.15) ========== ========== Fully Diluted - ------------- Net income (loss) $ 230 $ (785) ========== ========== Weighted average shares outstanding 5,590,555 5,382,119 Dilutive stock options based on the treasury stock method using the higher of average or period end market price (A) 246,343 179,680 ---------- ---------- Common shares used in calculation of net loss per share 5,836,898 5,561,799 ========== ========== Net income (loss) per share $ 0.04 $ (0.14) ========== ========== <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. 14