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EXHIBIT 11.1
CRAY INC.
COMPUTATION OF EARNINGS (LOSS) PER SHARE
(in thousands, except for per share data)
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Three months ended Six months ended
June 30, June 30,
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1999 2000 1999 2000
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<S> <C> <C> <C> <C>
Net income (loss) for common share $ (6,717) $ 2,661 $ (13,598) $ (5,344)
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Weighted average common
shares, basic 16,677 33,367 15,696 31,492
Net effect of dilutive stock options 87 87
Net effect of dilutive warrants 18 18
Weighted average common shares,
diluted 16,677 33,472 15,696 31,597
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Earnings (loss) per share, basic $ (0.40) $ 0.08 $ (0.87) $ (0.17)
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Earnings (loss) per share, diluted $ (0.40) $ 0.08 $ (0.87) $ (0.17)
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Potentially dilutive securities
excluded from computation because
they are anti-dilutuve 17,735 19,464 17,735 19,464
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