1 IPL SYSTEMS, INC. - ----------------- COMPUTATION OF NET LOSS PER COMMON SHARE EXHIBIT 11 YEARS ENDED DECEMBER 31, 1996, 1995 AND 1994 (Thousands of Dollars Except Per Share Amounts) - ------------------------------------------------------------------------------ Primary 1996 1995 1994 ---- ---- ---- Net loss ($ 2,142) ($ 3,464) ($ 15,046) ----------- ----------- ----------- Weighted average shares outstanding 5,617,926 5,469,177 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 loss per share 5,617,926 5,469,177 5,381,519 ----------- ----------- ----------- Net loss per common and common equivalent share ($ 0.38) ($ 0.63) ($ 2.80) =========== =========== =========== 2 IPL SYSTEMS, INC. - ----------------- COMPUTATION OF NET LOSS PER COMMON SHARE EXHIBIT 11 YEARS ENDED DECEMBER 31, 1996, 1995 AND 1994 (Thousands of Dollars Except Per Share Amounts) - ------------------------------------------------------------------------------ Fully Diluted 1996 1995 1994 - ------------- ---- ---- ---- Net loss ($ 2,142) ($ 3,464) ($ 15,046) ----------- ----------- ----------- Weighted average shares outstanding 5,617,926 5,469,177 5,381,519 Dilutive stock options based on the treasury stock method using the higher of average or period and market price 96,680(A) 211,600(A) 128,963(A) ----------- ----------- ----------- Common shares used in calculation of loss per share 5,716,606 5,680,777 5,510,482 ----------- ----------- ----------- Net loss per common and common equivalent share: ($ 0.37) ($ 0.61) ($ 2.73) =========== =========== =========== (A) This calculation is presented in accordance with Item 601 of Regulations S-X although it is not required by Paragraph 14 of APB Opinion No. 15.