1 EXHIBIT 11.1 PEDIATRIX MEDICAL GROUP, INC. STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (IN THOUSANDS, EXCEPT NET INCOME PER SHARE DATA) THREE MONTHS ENDED YEARS ENDED DECEMBER 31, MARCH 31, --------------------------- ----------------- 1993 1994 1995 1996 1995 ------- ------- ------- ------- ------- Income applicable to common stock: Net income................................... $ 4,150 $ 5,407 $ 6,713 $ 2,612 $ 1,209 Less: preferred stock dividends.............. 1,189 1,296 1,040 -- 354 ------- ------- ------- ------- ------- Income applicable to common stock............ $ 2,961 $ 4,111 $ 5,673 $ 2,612 $ 855 ======= ======= ======= ======= ======= Weighted average number of common and common share equivalents outstanding: Primary: Weighted average of common shares outstanding................................ 6,377 6,272 8,092 13,057 6,265 Weighted average of dilutive common stock equivalents................................ 456 581 681 640 778 ------- ------- ------- ------- ------- Weighted average number of common and common share equivalents outstanding for primary earnings per share......................... 6,833 6,853 8,773 13,697 7,043 ======= ======= ======= ======= ======= Fully diluted: Weighted average of common shares outstanding................................ 6,377 6,272 8,092 13,057 6,265 Weighted average of dilutive common stock equivalents................................ 5,038 5,158 4,124 669 5,349 ------- ------- ------- ------- ------- Weighted average number of common and common share equivalents outstanding for fully dilutive earnings per share................ 11,415 11,430 12,216 13,726 11,614 ======= ======= ======= ======= ======= Net income per share: Primary...................................... $ 0.43 $ 0.60 $ 0.65 $ 0.19 $ 0.12 ======= ======= ======= ======= ======= Fully diluted................................ $ 0.36 $ 0.47 $ 0.55 $ 0.19 $ 0.10 ======= ======= ======= ======= =======