1
Exhibit 11.1
Health Systems International, Inc. and Subsidiaries
Computation of Earnings Per Share
(In thousands, except per share data)
Three-Months Ended June 30, Six-Months Ended June 30,
-------------------------------- --------------------------------
1996 1995 1996 1995
------------ ------------ ------------ ------------
Primary:
Shares outstanding at beginning of
period 48,089 48,826 48,327 48,492
Weighted average shares issued
(repurchased) during period 173 (362) (257) 147
Dilutive shares contingently issuable
upon exercise of stock options,
net of shares assumed to have
been purchased (at average
market price) for treasury with
assumed proceeds from exercise 126 571 190 586
------------ ------------ ------------ ------------
Total primary shares 48,388 49,035 48,260 49,225
============ ============ ============ ============
Net income $ 24,448 $ 22,966 $ 50,488 $ 41,877
============ ============ ============ ============
Net income per share $ 0.51 $ 0.47 $ 1.05 $ 0.85
============ ============ ============ ============
Fully diluted:
Shares outstanding at beginning of
period 48,089 48,826 48,327 48,492
Weighted average shares issued
(repurchased) during period 173 (362) (257) 147
Dilutive shares contingently
issuable upon exercise of stock
options, net of shares assumed to
have been purchased (at the
greater of average or period-end
market price) for treasury with 126 609 195 618
assumed proceeds from exercise ------------ ------------ ------------ ------------
Total fully diluted shares 48,388 49,073 48,265 49,257
============ ============ ============ ============
Net income $ 24,448 $ 22,966 $ 50,488 $ 41,877
============ ============= ============ ============
Net income per share $ 0.51 $ 0.47 $ 1.05 $ 0.85
============ ============= ============ ============