<PAGE>
EXHIBIT 11
<TABLE>
<CAPTION>
AMERICAN TELESOURCE INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS (LOSS) PER SHARE
For the Year Ended
-------------------------------------------------
July 31, 1998 July 31, 1999 July 31, 2000
--------------- --------------- ---------------
<S> <C> <C> <C>
COMPUTATION OF NET LOSS PER SHARE
Net loss $ (5,094) $ (7,591) $ (17,138)
=============== =============== ===============
WEIGHTED AVERAGE NUMBER OF SHARES OF
COMMON STOCK OUTSTANDING 41,093 47,467 56,851
=============== =============== ===============
BASIC LOSS PER COMMON SHARE $ (0.12) $ (0.16) $ (0.30)
=============== =============== ===============
COMPUTATION OF DILUTED LOSS PER SHARE
Net loss $ (5,094) $ (7,591) $ (17,138)
Dividends not incurred upon assumed conversion of
convertible preferred stock - 70 431
--------------- --------------- ---------------
Net loss applicable to common stockholders
used for computation $ (5,094) $ (7,521) $ (16,707)
=============== =============== ===============
Weighted average number of shares of common
stock outstanding 41,093 47,467 56,851
Weighted average incremental shares outstanding
upon assumed conversion of options and warrant 10,228 4,272 5,083
Weighted average incremental shares outstanding
upon assumed conversion of convertible preferred stock - 264 2,808
--------------- --------------- ---------------
WEIGHTED AVERAGE COMMON SHARES AND
COMMON SHARE EQUIVALENTS USED FOR
COMPUTATION 51,321 52,003 64,742
=============== =============== ===============
=============== =============== ===============
DILUTED LOSS PER COMMON SHARE AND COMMON
SHARE EQUIVALENT $ (0.10) $ (0.14) $ (0.26)
=============== =============== ===============
</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.