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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1997 1996 1997 1996
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Primary Earnings (Loss) Per Share:
Net income (loss) per statement of operations $ (120,000) $ (395,000) $ 725,000 $2,773,000
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Weighted average number of shares outstanding 7,790,000 6,000,000 7,759,000 6,013,000
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Primary earnings (loss) per share $ (.02) $ (.07) $ .09 $ .46
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Fully Diluted Earnings (Loss) Per Share:/(1)/
Net income (loss) per statement of operations $ (120,000) $ (395,000) $ 725,000 $2,773,000
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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 7,790,000 6,000,000 7,759,000 6,013,000
Add-effect of outstanding options (as
determined by the application of the
treasury method) 255,000 153,000 10,000 26,000
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Weighted average number of shares, as adjusted 8,045,000 6,153,000 7,769,000 6,039,000
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Fully diluted earnings (loss) per share $ (.02) $ (.06) $ .09 $ .46
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/(1)/ This computation is submitted, for the three months ended September 30,
1997 and 1996, 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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