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<PAGE> 1
EXHIBIT 11.1
METROCALL, INC.
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
<TABLE>
<CAPTION>
Three Months Ended September 30 Nine Months Ended September 30
1999 2000 1999 2000
---- ---- ---- ----
<S> <C> <C> <C> <C>
Loss before extraordinary item $ (43,828) $ (61,728) $(130,552) $(165,471)
Extraordinary item - 3,862 - 19,649
Net loss (43,828) (57,866) (130,552) (145,822)
Preferred dividends (4,151) (2,327) (12,202) (7,413)
Series C Preferred Exchange Inducement - - - (6,308)
Gain on repurchase of preferred stock - - 2,208 -
--------- --------- --------- ---------
Net (loss)/gain attributable to common stockholders $ (47,979) $ (60,193) $(140,546) $(159,543)
========= ========= ========= =========
Weighted-average shares outstanding:
Shares outstanding, beginning of period 41,671 85,401 41,583 41,902
Shares issued for stock warrants exercised - - - 919
Shares issued for stock purchase and option plans 191 239 151 666
Shares issued in exchange for Series C Preferred - - - 9,520
Shares issued for exchange of subordinated notes - 1,659 - 3,228
Shares issued to equity investors - - - 16,822
Weighted-average shares outstanding 41,862 87,299 41,734 73,057
========= ========= ========= =========
Basic and diluted loss per share attributable
to common stockholders $ (1.15) $ (0.73) $ (3.37) $ (2.45)
Extraordinary item, net of income tax benefit - 0.04 - 0.27
--------- --------- --------- ---------
(Loss)/gain per share attributable to common stockholders $ (1.15) $ (0.69) $ (3.37) $ (2.18)
========= ========= ========= =========
</TABLE>
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