EXHIBIT 11.1 YES! ENTERTAINMENT CORPORATION STATEMENT REGARDING COMPUTATION OF NET LOSS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) THREE MONTHS ENDED MARCH 31, ---------------------------- 1997 1996 ------------ ------------- Net loss $ (3,182) $ (891) ============= Non-cash dividends related to discount on preferred stock ($ 1,550) ------------ Net loss applicable to common stockholders $ (4,732) ============ Computation of weighted average common and common equivalent shares outstanding: Weighted average common shares outstanding 14,044 13,527 ------------ ------------- Shares used in computing net loss per share 14,044 13,527 ============ ============= Net loss per share applicable to common stockholders $ (0.34) ============ Net loss per share $ (0.07) ============