Cerprobe Corporation Computation of Net earnings (Loss) Per Share Exhibit 11 (Unaudited) Three Months Ended Six Months ended June 30, 1997 June 30, 1997 --------------------------- ---------------------------- 1997 1996 1997 1996 ----------- ----------- ----------- ----------- Net income (loss) $ 1,589,326 $ 861,264 $(3,305,307) $ 1,867,485 =========== =========== =========== =========== Weighted average common shares outstanding 6,353,047 4,367,332 6,321,399 4,259,960 Common equivalent shares: Shares issuable upon exercise of stock options (1) 193,022 330,332 -- 276,929 Convertible preferred stock -- 695,502 -- 725,431 ----------- ----------- ----------- ----------- Total weighted average shares-primary 6,546,069 5,393,166 6,321,399 5,262,320 ----------- ----------- ----------- ----------- Fully diluted incremental shares: Stock options (calculated using the higher of end of period or average market value) 99,608 233 -- 2,971 Convertible subordinated debentures -- 485,000 -- 532,389 ----------- ----------- ----------- ----------- Total weighted average shares-fully diluted 6,645,677 5,878,399 6,321,399 5,797,680 ----------- ----------- ----------- ----------- Primary net income per common and common equivalent share $ 0.24 $ 0.16 $ (0.52) $ 0.35 ----------- ----------- ----------- ----------- Fully diluted net income per common and common equivalent share $ 0.24 $ 0.15 $ (0.52) $ 0.32 ----------- ----------- ----------- ----------- (1) Amount calculated under the treasury stock method and fair market values for stock