<PAGE>
Exhibit 11
Ballantyne of Omaha, Inc. and Subsidiaries
Computation of Net Income (loss) Per Share of Common Stock
Three Months Ended September 30, 2000 and 1999
<TABLE>
<CAPTION>
2000 1999
---- ----
<S> <C> <C>
BASIC NET INCOME (LOSS)
Net income (loss) applicable to
common stock $(1,066,937) $ 1,644,929
Weighted average common
shares outstanding 12,480,192 12,582,675
----------- -----------
Basic income (loss) per share $ (0.09) $ 0.13
=========== ===========
DILUTED NET INCOME (LOSS)
Net income (loss) applicable to
common stock $(1,066,937) $ 1,644,929
Weighted average common
shares outstanding 12,480,192 12,582,675
Assuming conversion
of options outstanding - 547,431
----------- -----------
Weighted average common
shares outstanding, as adjusted 12,480,192 13,130,106
----------- -----------
Diluted net income (loss) per share $ (0.09) $ 0.13
=========== ===========
</TABLE>
Because the Company reported net losses for the three months ended September 30,
2000, the calculation of diluted net loss per share excludes potential common
shares from stock options as they are anti-dilutive and would result in a
reduction of loss per share.
21
<PAGE>
Exhibit 11 (Continued)
Ballantyne of Omaha, Inc. and Subsidiaries
Computation of Net Income (loss) Per Share of Common Stock
Nine Months Ended September 30, 2000 and 1999
<TABLE>
<CAPTION>
2000 1999
---- ----
<S> <C> <C>
BASIC NET INCOME (LOSS)
Net income (loss) applicable to
common stock $(2,545,839) $ 5,304,673
Weighted average common
shares outstanding 12,466,949 12,629,403
----------- -----------
Basic income (loss) per share $ (0.20) $ 0.42
=========== ===========
DILUTED NET INCOME (LOSS)
Net income (loss) applicable to
common stock $(2,545,839) $ 5,304,673
Weighted average common
shares outstanding 12,466,949 12,629,403
Assuming conversion
of options outstanding - 596,314
----------- -----------
Weighted average common
shares outstanding, as adjusted 12,466,949 13,225,717
----------- -----------
Diluted net income (loss) per share $ (0.20) $ 0.40
=========== ===========
</TABLE>
Because the Company reported net losses for the nine months ended September 30,
2000, the calculation of diluted net loss per share excludes potential common
shares of stock options as they are anti-dilutive and would result in a
reduction of loss per share.
22
