1 EXHIBIT 11.1 RENEX CORP. COMPUTATION OF PER SHARE EARNINGS (LOSS) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, -------------------------- --------------------------- 1998 1997 1998 1997 ---------- --------- ---------- --------- Income (loss) applicable to primary common and common equivalent shares $ 439,000 $(278,000) $ 964,000 $ (781,000) ========== ========= ========== ========= BASIC EPS: Common weighted average shares 6,977,372 3,971,128 6,977,372 3,974,006 Basic earnings (loss) per share 0.06 (0.07) 0.14 (0.20) DILUTED EPS: Common weighted average shares 6,977,372 3,971,128 6,977,372 3,974,006 Options and warrants 53,548 -- 60,423 -- ---------- --------- ---------- --------- Diluted weighted average shares 7,030,920 3,971,128 7,037,795 3,974,006 Diluted earnings (loss) per share 0.06 (0.07) 0.14 (0.20)