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EQUIMED, INC.
EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(in thousands, except per share amounts)
THREE MONTHS SIX MONTHS
ENDED JUNE 30, ENDED JUNE 30,
1995 1996 1995 1996
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Primary:
Weighted average common shares outstanding 20,784 28,377 20,784 26,711
Net effect of dilutive stock options and warrants-
based on the treasury stock method using
average market price - 31 - 156
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Weighted average common share and
equivalents outstanding 20,784 28,408 20,784 26,867
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Net income $ 3,043 $ 2,711 $ 6,020 $ 3,092
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Net income per share $ 0.10 $ 0.12
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Pro forma net income $ 2,057 $ 4,173
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Pro forma net income per share $ 0.10 $ 0.20
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Fully Diluted:
Weighted average common shares outstanding 20,784 28,377 20,784 26,711
Net effect of dilutive stock options and warrants-
based on the treasury stock method using the
June 30 price, if higher that average market price - 22 - 139
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Weighted average common share and
equivalents outstanding 20,784 28,399 20,784 26,850
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Net income $ 3,043 $ 2,711 $ 6,020 $ 3,092
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Net income per share $ 0.10 $ 0.12
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Pro forma net income $ 2,057 $ 4,173
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Pro forma net income per share $ 0.10 $ 0.20
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