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EXHIBIT 11
IPL SYSTEMS, INC.
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COMPUTATION OF NET (LOSS) INCOME PER COMMON SHARE
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(Thousands of dollars except per share amounts)
Three Months Ended
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March 31, March 31
1997 1996
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Primary
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Net (loss) income $ (1,997) $ 230
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Weighted average shares outstanding 5,633,819 5,590,555
Dilutive stock options based on the
treasury stock method using average
market price for the period -- 149,059
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Common shares used in calculation of
net (loss) income per share 5,633,819 5,739,614
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Net (loss) income per share $ (0,35) $ 0.04
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Fully Diluted
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Net (loss) income $ (1,997) $ 230
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Weighted average shares outstanding 5,633,819 5,590,555
Dilutive stock options based on the
treasury stock method using the
higher of average or period end
market price (A) -- 246,343
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Common shares used in calculation of
net (loss) income per share 5,633,819 5,836,898
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Net (loss) income per share $ (0.35) 0.04
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(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.
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