CATALINA LIGHTING, INC. AND SUBSIDIARIES
EXHIBIT 11
SCHEDULE OF COMPUTATION OF PRIMARY EARNINGS PER SHARE
THREE MONTHS ENDED SIX MONTHS ENDED
MARCH 31, MARCH 31,
------------------------------------ -----------------------------------
1996 1995 1996 1995
---------------- ----------------- ---------------- ----------------
Net income $ 365,000 $ 226,000 $ 953,000 $ 1,741,000
Add: Interest on debt assumed to
be repaid 9,000 - 38,000 -
------------ ------------ ----------- ------------
Net income for primary earnings per common
share $ 374,000 $ 226,000 $ 991,000 $ 1,741,000
============ ============ =========== ============
Weighted average number of common shares
outstanding during the period 6,995,000 6,947,000 6,995,000 6,939,000
Add: Common equivalent shares determined
using the "Modified Treasury Stock"
method representing shares issuable upon
exercise of stock options, warrants and
shares issuable under contractual
agreements 796,000 923,000 808,000 987,000
------------ ------------ ----------- ------------
Weighted average number of shares used in
calculation of primary earnings per share 7,791,000 7,870,000 7,803,000 7,926,000
============ ============ =========== ============
Primary earnings per common share $ .05 $ .03 $ .13 $ .22
============ ============ =========== ============
CATALINA LIGHTING, INC. AND SUBSIDIARIES
EXHIBIT 11
(CONTINUED)
SCHEDULE OF COMPUTATION OF FULLY DILUTED EARNINGS PER SHARE
THREE MONTHS ENDED SIX MONTHS ENDED
MARCH 31, MARCH 31,
------------------------------------ -----------------------------------
1996 1995 1996 1995
---------------- ----------------- ---------------- ----------------
Net income $ 365,000 $ 226,000 $ 953,000 $ 1,741,000
Add: Interest on debt assumed to be repaid - - 1,000 -
------------ ------------ ----------- ------------
Net income for fully diluted
earnings per common share $ 365,000 $ 226,000 $ 954,000 $ 1,741,000
============ ============ =========== ============
Weighted average number of
common shares outstanding
during the period 6,995,000 6,947,000 6,995,000 6,939,000
Add: Common equivalent shares determined
using the "Modified Treasury Stock"
method representing shares issuable upon
exercise of stock options, warrants and
shares issuable under contractual
agreements 826,000 923,000 808,000 987,000
------------ ------------ ----------- ------------
Weighted average number of
shares used in calculation of
fully diluted earnings per share 7,821,000 7,870,000 7,803,000 7,926,000
============ ============ =========== ============
Fully diluted earnings per common share $ .05 $ .03 $ .12 $ .22
============ ============ =========== ============