Exhibit 11.1
SBE, INC.
COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE YEARS ENDED OCTOBER 31
YEARS ENDED OCTOBER 31
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1997 1996 1995
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PRIMARY EARNINGS PER SHARE:
Net income (loss) $3,333,181 ($9,624,503) ($4,567,971)
Average number of common shares
outstanding during the year 2,501,786 2,131,593 2,054,570
Assumed issuance of stock under the
employee and non-employee stock
option plans 200,974 (a) (a)
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Weighted average common shares 2,702,760 2,131,593 2,054,570
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Primary earnings (loss) per share $1.23 ($4.51) ($2.22)
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FULLY DILUTED EARNINGS PER SHARE:
Average number of common shares
outstanding during the year 2,501,786 2,131,593 2,054,570
Assumed issuance of stock under the
employee and non-employee stock
option plans 278,927 (a) (a)
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Weighted average common shares 2,780,713 2,131,593 2,054,570
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Fully diluted (loss) earnings $1.20 ($4.51) ($2.22)
per share ----------------------------------------
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(a) In loss years common share equivalents would have an anti dilutive effect
on (loss) per share and therefore have been excluded.
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