1 EXHIBIT 11 MEDAPHIS CORPORATION COMPUTATION OF BASIC & DILUTED EARNINGS PER SHARE THREE MONTHS ENDED MARCH 31, 1998 AND 1997 (in thousands, except per share data) THREE MONTHS ENDED MARCH 31, -------------------- DESCRIPTION 1998 1997 - ----------- -------- -------- Weighted average shares outstanding during the period ...................... 73,479 72,235 Shares issuable upon assumed exercise of stock options, less amounts assumed repurchased under the treasury stock method .............................. -- -- -------- -------- Total weighted average common stock and common stock equivalents outstanding during the period ............................................ 73,479 72,235 ======== ======== Loss before extraordinary item ............................................. $ (5,150) $ (3,064) Extraordinary item: early extinguishment of debt, net of tax ............... (5,557) -- -------- -------- Net loss .......................................................... $(10,707) $ (3,064) ======== ======== Basic net loss per common share: Loss before extraordinary item ........................................... $ (0.07) $ (0.04) Extraordinary item: early extinguishment of debt, net of tax ............. (0.08) -- -------- -------- Net loss .......................................................... $ (0.15) $ (0.04) ======== ========