CATALINA LIGHTING, INC. AND SUBSIDIARIES
EXHIBIT 11
SCHEDULE OF COMPUTATION OF PRIMARY EARNINGS PER SHARE
THREE MONTHS ENDED
DECEMBER 31,
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1996 1995
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Net income $ 22,000 $ 588,000
Add: Interest on debt assumed to be repaid 24,000 23,000
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Net income for primary earnings per
common share $ 46,000 $ 611,000
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Weighted average number of common shares
outstanding during the period 7,064,000 6,994,000
Add: Common equivalent shares determined
using the "Modified Treasury Stock"
method representing shares issuable
upon exercise of stock options
and warrants 744,000 762,000
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Weighted average number of shares used in
calculation of primary earnings
per share 7,808,000 7,756,000
=========== ==========
Primary earnings per common share $ 0.01 $ 0.08
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CATALINA LIGHTING, INC. AND SUBSIDIARIES
EXHIBIT 11 (continued)
SCHEDULE OF COMPUTATION OF FULLY DILUTED EARNINGS PER SHARE
THREE MONTHS ENDED
DECEMBER 31,
-----------------------------
1996 1995
------------ -----------
Net income $ 22,000 $ 588,000
Add: Interest on debt assumed to be repaid 21,000 22,000
----------- ----------
Net income for fully diluted earnings per
common share $ 43,000 $ 610,000
=========== ==========
Weighted average number of common shares
outstanding during the period 7,064,000 6,994,000
Add: Common equivalent shares determined
using the "Modified Treasury Stock"
method representing shares issuable
upon exercise of stock options
and warrants 744,000 762,000
----------- ----------
Weighted average number of shares used in
calculation of fully diluted earnings
per share 7,808,000 7,756,000
=========== ==========
Fully diluted earnings per common share $ 0.01 $ 0.08
=========== ==========