<PAGE> 1
EX-11.1
2
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
1
AETHER SYSTEMS, INC.
COMPUTATION OF EARNINGS PER COMMON SHARE
EXHIBIT 11.1
<TABLE>
<CAPTION>
Computation of Earnings
per Common Share
--------------------------------------------------------
(in thousands, except per share data)
Three Months Ended Nine months Ended
September 30, 1999 September 30, 1999
--------------------------- ---------------------------
Net Loss Shares Per Share Net Loss Shares Per Share
-------- ------ --------- -------- ------ ---------
<S> <C> <C> <C> <C> <C> <C>
BASIC EPS
Pro forma net loss available
To common shareholders (2,850) 19,954 (0.14) (7,170) 19,903 (0.36)
EFFECT OF DILUTIVE SHARES
Stock options -- -- -- -- -- --
------ ------ ----- ------ ------ -----
DILUTIVE EPS (1)
Pro forma net loss available
to common shareholders (2,850) 19,954 (0.14) (7,170) 19,903 (0.36)
------ ------ ----- ------ ------ -----
</TABLE>
<TABLE>
<CAPTION>
Computation of Earnings
per Common Share
---------------------------------------------------------
(in thousands, except per share data)
Three Months Ended Nine months Ended
September 30, 2000 September 30, 2000
--------------------------- ---------------------------
Net Loss Shares Per Share Net Loss Shares Per Share
-------- ------ --------- -------- ------ ---------
<S> <C> <C> <C> <C> <C> <C>
BASIC EPS
Pro forma net loss available
To common shareholders (107,261) 38,343 (2.80) (230,446) 35,308 (6.53)
EFFECT OF DILUTIVE SHARES
Stock options -- -- -- -- -- --
------ ------ ----- ------- ------ -----
DILUTIVE EPS (1)
Pro forma net loss available
to common shareholders (107,261) 38,343 (2.80) (230,446) 35,308 (6.53)
------ ------ ----- ------- ------ -----
</TABLE>
1. Options and warrants to purchase approximately 5,074,093 million and
3,920,358 million shares of common stock were outstanding at September 30, 2000
and 1999 respectively and were not included in the computation of pro forma
diluted earnings per share because the effect would have been antidilutive.
Additionally, effective March 22, 2000, the Company issued $310.5 million of %6
convertible subordinated notes due 2005, which are convertible at a price of
$243.95 (or 4.0992 shares per $1,000 principal amount of notes, subject to
adjustment. These notes were not considered in the calculation of the pro forma
diluted earnings per share because the effect would have been antidilutive.
