EXHIBIT 11.1 MICROELECTRONIC PACKAGING, INC. COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE Three months ended September 30, Nine months ended September 30, ------------------------------- ------------------------------ 1996 1995 1996 1995 ------------ ------------- ------------- ------------- PRIMARY NET INCOME (LOSS) PER SHARE: - ------------------------------------ Net income (loss) $ (722,000) $ 457,000 $ 453,000 $ (1,936,000) ------------ ------------- ------------- ------------- Weighted average shares outstanding: Shares outstanding from beginning of period 5,558,792 4,660,093 4,660,117 4,660,093 Sale of 842,058 shares on March 25, 1996 - - 580,836 - Other shares issued during the period 63,606 - 46,097 - Common equivalents - options to Directors, Officers and Employees, net of treasury shares - 109,910 206,343 - ------------ ------------- ------------- ------------- Weighted average Common and Common equivalent shares outstanding 5,622,398 4,770,003 5,493,393 4,660,093 ============ ============= ============= ============= Primary Net income (loss) per Common Share $ (0.13) $ 0.10 $ 0.08 $ (0.42) ============ ============= ============= ============= FULLY DILUTED NET INCOME (LOSS) PER SHARE: - ------------------------------------------ Net income (loss) $ (722,000) $ 457,000 $ 453,000 $ (1,936,000) ------------ ------------- ------------- ------------- Weighted average shares outstanding: Shares outstanding from beginning of period 5,558,792 4,660,093 4,660,117 4,660,093 Sale of 842,058 shares on March 25, 1996 - - 580,836 - Other shares issued during the period 63,606 - 46,097 - Common equivalents - options to Directors, Officers and Employees, net of treasury shares - 109,910 208,400 - ------------ ------------- ------------- ------------- Weighted average Common and Common equivalent shares outstanding 5,622,398 4,770,003 5,495,450 4,660,093 ============ ============= ============= ============= Fully diluted net income (loss) per Common Share $ (0.13) $ 0.10 $ 0.08 $ (0.42) ============ ============= ============= =============