CATALINA LIGHTING, INC. AND SUBSIDIARIES
EXHIBIT 11
SCHEDULE OF COMPUTATION OF DILUTED EARNINGS (LOSS) PER SHARE
Years ended September 30,
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2001 2000 1999
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Net income (loss) $(18,347,000) $ 2,845,000 $ 6,489,000
Interest on convertible subordinated notes, net of
income taxes -- 250,000 424,000
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Net income (loss) for diluted earnings
per share $(18,347,000) $ 3,095,000 $ 6,913,000
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Weighted average number of common shares
outstanding for the year 9,622,000 7,607,000 7,252,000
Weighted average number of shares repurchased
for the year (642,000) (533,000) (197,000)
Shares issuable upon conversion of convertible
subordinated notes -- 748,000 1,138,000
Common equivalent shares determined
using the "Treasury Stock" method
representing shares issuable upon exercise
of stock options and warrants and shares
issuable under contractual agreements -- 597,000 495,000
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Weighted average number of shares
used in calculation of diluted earnings (loss)
per share 8,980,000 8,419,000 8,688,000
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Diluted earnings (loss) per share $ (2.04) $ 0.37 $ 0.80
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