EXHIBIT 11.1
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SYNBIOTICS CORPORATION
COMPUTATION OF EARNINGS (LOSS) PER SHARE
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THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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1996 1995 1996 1995
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PRIMARY EARNINGS (LOSS) PER SHARE:
Net income (loss) per statement
of operations $ (395,000) $ (854,000) $2,773,000 $ 880,000
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Weighted average number of shares
outstanding 6,000,000 5,809,000 6,013,000 5,827,000
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Primary earnings (loss) per share $ (.07) $ (.15) $ .46 $ .15
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FULLY DILUTED EARNINGS (LOSS) PER
SHARE:/(1)/
Net income (loss) per statement
of operations $ (395,000) $ (854,000) $2,773,000 $ 880,000
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Reconciliation of weighted average
number of shares per primary
computation above, to amount used
for fully diluted computation:
Weighted average number of shares
outstanding, per primary computation 6,000,000 5,809,000 6,013,000 5,827,000
Add-effect of outstanding options
(as determined by the application
of the treasury method) 153,000 54,000 26,000 7,000
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Weighted average number of shares,
as adjusted 6,153,000 5,863,000 6,039,000 5,834,000
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Fully diluted earnings (loss)
per share $ (.06) $ (.15) $ .46 $ .15
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/(1)/ This computation is submitted, for the three months ended September 30,
1996 and 1995, in accordance with Regulation S-B Item 601(b)(11) although
it is contrary to paragraph 40 of APB Opinion No. 15 because it produces
an anti-dilutive result.
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