Cerprobe Corporation Computation of Net earnings (Loss) Per Share Exhibit 11 (Unaudited) Three Months Ended Nine Months ended September 30, 1997 September 30, 1997 ------------------------------------ ------------------------------------ 1997 1996 1997 1996 ---------------- ----------------- ----------------- ----------------- Net income (loss) $ 2,962,096 $ 663,399 $ (343,212) $ 2,530,884 ================ ================= ================= ================= Weighted average common shares outstanding 6,315,506 4,529,389 6,318,243 4,304,633 Common equivalent shares: Shares issuable upon exercise of stock options (1) 390,841 249,009 - 199,331 Convertible preferred stock - 519,130 - 621,979 ---------------- ----------------- ----------------- ----------------- Total weighted average shares-primary 6,706,347 5,297,528 6,318,243 5,125,943 ---------------- ----------------- ----------------- ----------------- Fully diluted incremental shares: Stock options (calculated using the higher of end of period or average market value) 80,626 48 - 4,846 Convertible subordinated debentures - 485,000 - 517,000 ---------------- ----------------- ----------------- ----------------- Total weighted average shares-fully diluted 6,786,973 5,782,576 6,318,243 5,647,789 ---------------- ----------------- ----------------- ----------------- Primary net income per common and common equivalent share $ 0.44 $ 0.13 $ (0.05) $ 0.49 ---------------- ----------------- ----------------- ----------------- Fully diluted net income per common and common equivalent share $ 0.44 $ 0.11 $ (0.05) $ 0.45 ---------------- ----------------- ----------------- ----------------- (1) Amount calculated under the treasury stock method and fair market values for stock