EXHIBIT 11
PERIPHONICS CORPORATION
COMPUTATION OF EARNINGS PER COMMON SHARE
(In thousands, except per share data)
Year Ended May 31,
1996 1995 1994
---- ---- ----
COMPUTATION OF ADJUSTED NET EARNINGS:
Earnings before cumulative effect of change in accounting
principle $ 9,215 $ 3,184 $ 2,034
Cumulative effect of change in accounting principle - - (83)
------- ------- --------
Net earnings for primary and fully diluted earnings per
common share computation $ 9,215 3,184 $ 1,951
======= ======= ========
COMPUTATION OF ADJUSTED WEIGHTED AVERAGE
SHARES OUTSTANDING:
Weighted average shares outstanding 6,445 4,135 3,750
Add: Shares assumed to be issued upon conversion of Series A
preferred stock - 623 750
Add: Shares assumed to be issued upon conversion of preferred
stock issued by subsidiary through exercise of a warrant 39 39 39
Add: Effect of stock options outstanding 146 92 75
------- ------- --------
Weighted average shares and common equivalent shares used
for primary earnings per common share computation 6,630 4,889 4,614
Add: Effect of additional stock options outstanding for fully
diluted computation 44 - 5
------- ------ -
Weighted average shares and common equivalent shares used
for fully diluted earnings per common share computation 6,674 4,889 4,619
======== ======= ========
EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE:
PRIMARY:
Earnings before cumulative effect of change in
accounting principle $ 1.39 $ .65 $ 0.44
Cumulative effect of change in accounting principle - - (0.02)
------- ------ ---------
Net earnings $ 1.39 $ .65 $ 0.42
======= ====== =========
FULLY DILUTED:
Earnings before cumulative effect of change in
accounting principle $ 1.38 $ .65 $ 0.44
Cumulative effect of change in accounting principle - - (0.02)
------- -------- ----------
Net earnings $ 1.38 $ .65 $ 0.42
======= ======== =========