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EXHIBIT 11.1
COMPUTATION OF NET LOSS PER SHARE
Basic and diluted net loss per share information for all periods is
presented under the requirements of FASB Statement No. 128, "Earnings per
Share." Basic loss per share has been computed using the weighted average number
of common shares outstanding during the period, less shares that may be
repurchased and excludes any anti-dilutive effects of options, warrants and
convertible securities. Potentially dilutive issuances have also been excluded
from computation of diluted net loss per share as their inclusion would be
anti-dilutive.
The calculation of historical basic and diluted net loss per share is as
follows (in thousands, except per share amounts):
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<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Net loss ................................. $(20,582) $ (6,679) $(45,650) $(15,746)
Accretion and dividend on redeemable
convertible preferred stock ............ (135) (13,691) (213) (17,462)
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Net Loss applicable to common stockholders $(20,717) $(20,370) $(45,863) $(33,208)
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Weighted average shares of common stock
outstanding ............................ 45,170 14,627 44,396 14,418
Less: Weighted average shares subject to
repurchase ............................. (1,405) (997) (1,405) (828)
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Weighted average shares of common stock
outstanding used in computing basic and
diluted net loss per share ............. 43,765 13,630 42,991 13,590
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Basic and diluted net loss per share ... $ (0.47) $ (1.49) $ (1.07) $ (2.44)
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