EX-11.1 3 ex11-1.txt EXHIBIT 11 Premier Exhibitions, Inc. and Subsidiaries Computation of Net Income (Loss) Per Share (Unaudited)
Three months ended May 31, ----------------------------------- 2004 2005 ----------------------------------- ----------------------------------- Net income (loss) $ (875,000) $ 455,000 =================================== Weighted average number of common 19,240,047 22,299,939 shares outstanding Common equivalent shares representing shares issuable upon exercise of outstanding warrants and options - 2,650,000 ----------------------------------- 19,240,047 24,949,939 =================================== Net income (loss) per share: Basic $ (0.05) $ 0.02 =================================== Diluted $ (0.05) $ 0.02 ===================================
Basic income (loss) per share of common stock is computed based on the average number of common shares outstanding during the period. Diluted EPS includes the potential conversion of warrants and convertible notes that are dilutive. Stock options are not considered in the diluted EPS calculation for those periods with net losses, as the impact of the potential common shares would be to decrease loss per share.