ENVIROTEST SYSTEMS CORP.
EXHIBIT 11 - STATEMENT OF COMPUTATION OF LOSS PER SHARE
(Amounts in thousands, except per share amounts)
Loss per share is computed using the weighted average number of shares
outstanding plus incremental shares issuable upon exercise of outstanding
options and warrants using the treasury stock method.
Three Six
Months Ended Months Ended
March 31, March 31,
1997 1996 1997 1996
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LOSS
Loss $ (5,727) $(16,415) $(11,901) $(10,827)
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LOSS PER COMMON AND
COMMON EQUIVALENT SHARE
Weighted average number of shares outstanding 16,620 16,571 16,620 16,485
Net effect of dilutive stock options based on
the treasury method using the average
market price of common stock (a) 646 703 660 784
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Common stock and common stock equivalents 17,266 17,274 17,280 17,269
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Loss per common and common
equivalent share $ (0.33) $ (0.95) $ (0.69) $ (0.63)
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LOSS PER COMMON SHARE -
ASSUMING FULL DILUTION
Weighted average number of shares outstanding 16,620 16,571 16,620 16,485
Net effect of dilutive stock options based on
the treasury method using the end of
period market price of common, if
higher than average (a) 646 703 660 784
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Common stock and common stock equivalents 17,266 17,274 17,280 17,269
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Loss per common and common
equivalent share $ (0.33) $ (0.95) $ (0.69) $ (0.63)
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Notes:
(a) Common stock equivalents represent stock options and warrants.