EXHIBIT 11.1 COMPUTATION OF EARNINGS PER SHARE
CELLULAR TECHNICAL SERVICES COMPANY, INC.
COMPUTATION OF EARNINGS PER SHARE
(in 000's, except per share amounts)
(unaudited)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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1997 1996 1997 1996
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Primary earnings per share:
Net income (loss) for calculation
of primary earnings per share $ (4,749) $ 54 $ (1,331) $ (4,437)
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Weighted average number of shares outstanding 22,779,612 22,064,713 22,705,053 21,857,357
Dilutive effect of outstanding stock
options - based upon the Treasury
Stock Method using average market price(1) 1,524,012
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Weighted average number of shares,
as adjusted, for calculation of
primary earnings per share 22,779,612 23,588,725 22,705,053 21,857,357
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Primary earnings (loss) per share(2) $ (.21) $ .00 $ (.06) $ (.20)
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(1) Common Stock equivalent shares have not been considered in the
calculations for the nine month periods ended September 30, 1996 and the
three and nine month periods ended September 30, 1997 because the effect
would be antidilutive.
(2) Fully diluted earnings per share computations are not included since they
would not materially change results presented on the primary earnings per
share basis.
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