<PAGE>
EXHIBIT 11
AMERICAN TELESOURCE INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS (LOSS) PER SHARE
<TABLE>
<CAPTION>
For the three months ended For the nine months ended
--------------------------------- -------------------------------
April 30, 1999 April 30, 2000 April 30, 1999 April 30, 2000
-------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
COMPUTATION OF NET LOSS PER SHARE
Net loss $(1,344) $(6,529) $(3,074) $(12,182)
======= ======= ======= ========
WEIGHTED AVERAGE NUMBER OF SHARES OF
COMMON STOCK OUTSTANDING 46,844 61,780 46,259 53,448
======= ======= ======= ========
BASIC LOSS PER COMMON SHARE $ (0.03) $ (0.11) $ (0.07) $ (0.23)
======= ======= ======= ========
COMPUTATION OF DILUTED LOSS PER SHARE
Net loss $(1,344) $(6,529) $(3,074) $(12,182)
Dividends not incurred upon assumed conversion of
convertible preferred stock - 147 - 324
------- ------- ------- --------
Net loss applicable to common stockholders
used for computation $(1,344) $(6,382) $(3,074) $(11,858)
======= ======= ======= ========
Weighted average number of shares of common
stock outstanding 46,844 61,780 46,259 53,448
Weighted average incremental shares outstanding
upon assumed conversion of options and warrants 3,575 3,072 3,060 6,065
Weighted average incremental shares outstanding
upon assumed conversion of convertible preferred stock - 2,041 - 2,041
------- ------- ------- --------
WEIGHTED AVERAGE COMMON SHARES AND
COMMON SHARE EQUIVALENTS USED FOR
COMPUTATION 50,419 66,893 49,319 61,554
======= ======= ======= ========
DILUTED LOSS PER COMMON SHARE AND COMMON
SHARE EQUIVALENT $ (0.03) $ (0.10) $ (0.06) $ (0.19)
======= ======= ======= ========
</TABLE>
(a) This calculation is submitted in accordance with Item 601 (b) (11) of
Regulation S-K although it is not required by SFAS No. 128 because it is
antidilutive.