EXHIBIT 11.1
SCM Microsystems, Inc. and Subsidiaries
Statement Regarding Computation of Net Income (Loss) Per Share
(in thousands, except per share data)
Year Ended December 31,
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1995 1996 1997
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Basic earnings per share:
Net income (loss) applicable to
common stockholders $(3,065) $(1,397) $ 301
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Basic net income (loss) per share $ (2.39) $ (1.09) $ 0.08
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Weighted average common shares
outstanding 1,280 1,280 3,819
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Diluted earnings per share:
Net income (loss) applicable to
common stockholders $(3,065) $(1,397) $ 301
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Diluted net income (loss) per share $ (2.39) $ (1.09) $ 0.06
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Shares used:
Weighted average common shares
outstanding 1,280 1,280 3,819
Series A convertible preferred stock -- -- 655
Stock options outstanding -- -- 400
Stock warrants outstanding -- -- 141
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1,280 1,280 5,015
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Pro forma information:
Net income applicable to common
stockholders $1,103
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Pro forma diluted net income per share $ 0.14
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Shares used:
Weighted average common shares outstanding 3,819
Series A convertible preferred stock 655
Stock options outstanding 400
Stock warrants outstanding 141
Redeemable convertible preferred stock(1) 2,634
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7,649
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(1) Gives effect to the conversion of the redeemable convertible preferred
stock, Series B through F, into common stock on January 1, 1997, or their
respective dates of issuance if later.