TRICO MARINE SERVICES, INC.
EXHIBIT 11.1
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except share and per share amounts)
<TABLE>
<CAPTION>
Three Months Ended June 30, 2000 Six Months Ended June 30, 2000
-------------------------------------------- -------------------------------------------
Per- Per-
Loss Shares share Loss Shares share
(Numerator) (Denominator) Amount (Numerator) (Denominator) Amount
------------- ------------- ------------- ------------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
Loss before extraordinary item $ (4,175) $ (13,236)
------------- -------------
BASIC EARNINGS PER SHARE
Loss before extraordinary item
available to common shareholders (4,175) 30,683,250 $ (0.13) (13,236) 29,536,833 $ (0.45)
============= ============
EFFECT OF DILUTIVE SECURITIES
Stock option grants - - - -
------------- ------------ ------------- -------------
DILUTED EARNINGS PER SHARE
Loss before extraordinary item
available to common shareholders
plus assumed conversions $ (4,175) 30,683,250 $ (0.13) $ (13,236) 29,536,833 $ (0.45)
============= ============ ============= ============= ============= ============
Extraordinary item $ 715 $ 715
------------- -------------
BASIC EARNINGS PER SHARE
Extraordinary item available to
common shareholders 715 30,683,250 $ 0.02 715 29,536,833 $ 0.03
============= ============
EFFECT OF DILUTIVE SECURITIES
Stock option grants - - - -
------------- ------------ ------------- -------------
DILUTED EARNINGS PER SHARE
Extraordinary item available to
common shareholders plus assumed
conversions $ 715 30,683,250 $ 0.02 $ 715 29,536,833 $ 0.03
============= ============ ============= ============= ============= ============
Net loss $ (3,460) $ (12,521)
------------- -------------
BASIC EARNINGS PER SHARE
Net loss available to common
shareholders (3,460) 30,683,250 $ (0.11) (12,521) 29,536,833 $ (0.42)
============= ============
EFFECT OF DILUTIVE SECURITIES
Stock option grants - - - -
------------- ------------ ------------- -------------
DILUTED EARNINGS PER SHARE
Net loss available to common
shareholders plus assumed
conversions $ (3,460) 30,683,250 $ (0.11) $ (12,521) 29,536,833 $ (0.42)
============= ============ ============= ============= ============= ============
<CAPTION>
Three Months Ended June 30, 1999 Six Months Ended June 30, 1999
-------------------------------------------- -------------------------------------------
Per- Per-
Loss Shares share Loss Shares share
(Numerator) (Denominator) Amount (Numerator) (Denominator) Amount
------------- ------------- ------------- ------------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
Loss before extraordinary item $ (9,006) $ (16,349)
------------- -------------
BASIC EARNINGS PER SHARE
Loss before extraordinary item
available to common shareholders (9,006) 22,975,339 $ (0.39) (16,349) 21,684,051 $ (0.75)
============= ============
EFFECT OF DILUTIVE SECURITIES
Stock option grants - - - -
------------- ------------- ------------- -------------
DILUTED EARNINGS PER SHARE
Loss before extraordinary item
available to common shareholders
plus assumed conversions $ (9,006) 22,975,339 $ (0.39) $ (16,349) 21,684,051 $ (0.75)
============= ============= ============= ============= ============= ============
Extraordinary item $ (1,830) $ (1,830)
------------- -------------
BASIC EARNINGS PER SHARE
Extraordinary item available to
common shareholders (1,830) 22,975,339 $ (0.08) (1,830) 21,684,051 $ (0.09)
============= ============
EFFECT OF DILUTIVE SECURITIES
Stock option grants - - - -
------------- ------------- ------------- -------------
DILUTED EARNINGS PER SHARE
Extraordinary item available to
common shareholders plus
assumed conversions $ (1,830) 22,975,339 $ (0.08) $ (1,830) 21,684,051 $ (0.09)
============= ============= ============= ============= ============= ============
Net loss $ (10,836) $ (18,179)
------------- -------------
BASIC EARNINGS PER SHARE
Net loss available to common
shareholders (10,836) 22,975,339 $ (0.47) (18,179) 21,684,051 $ (0.84)
============= ============
EFFECT OF DILUTIVE SECURITIES
Stock option grants - - - -
------------- ------------- ------------- -------------
DILUTED EARNINGS PER SHARE
Net loss available to common
shareholders plus assumed
conversions $ (10,836) 22,975,339 $ (0.47) $ (18,179) 21,684,051 $ (0.84)
============= ============= ============= ============= ============= ============
</TABLE>