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EXHIBIT 11
ClinTrials Research Inc.
Computation of Earnings per Common and Common Equivalent Share
(in thousands, except for earnings per share)
Three Months Ended
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September 30,
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1995 1996
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Net income $ 979 $ 2,028
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Average shares outstanding 8,809 10,885
Net effect of dilutive stock options - based on treasury
stock method using average market price 315 324
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Weighted average shares 9,124 11,209
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Earnings per common and common equivalent share $ 0.11 $ 0.18
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ClinTrials Research Inc.
Computation of Earnings per Common and Common Equivalent Share
(in thousands, except for earnings per share)
Nine Months Ended
September 30,
1995 1996
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Net income $ 2,517 $ 4,417
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Average shares outstanding 8,788 10,129
Net effect of dilutive stock options - based on treasury
stock method using average market price 279 338
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Weighted average shares 9,067 10,467
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Earnings per common and common equivalent share $ 0.28 $ 0.42
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