EXHIBIT 11.1 QUALCOMM INCORPORATED COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED SIX MONTHS ENDED ------------------------- ------------------------- MARCH 30, MARCH 31, MARCH 30, MARCH 31, 1997 1996 1997 1996 ---------- ---------- ---------- ---------- Net income (1) $ 16,745 $ 1,465 $ 25,871 $ 11,579 ========== ========== ========== ========== Weighted average number of common shares outstanding 67,225 65,262 66,903 65,009 Common stock equivalent shares (2) 5,596 4,896 4,837 4,664 ---------- ---------- ---------- ---------- Total number of shares for computing primary earnings per share 72,821 70,158 71,740 69,673 Incremental shares for computing fully diluted earnings per share (3) 937 - 468 29 ---------- ---------- ---------- ---------- Total number of shares for computing fully diluted earnings per share 73,758 70,158 72,208 69,702 ========== ========== ========== ========== Primary earnings per share $ 0.23 $ 0.02 $ 0.36 $ 0.17 ========== ========== ========== ========== Fully diluted earnings per share (4) $ 0.23 $ 0.02 $ 0.36 $ 0.17 ========== ========== ========== ==========
- ------------ (1) The Company's fiscal quarter ended on the last Sunday of March. (2) Includes outstanding options and warrants for common stock. (3) The incremental shares for fully diluted earnings per share reflects the dilutive effect of stock options and warrants at the higher of the average or ending market price during the reporting period. (4) This calculation is submitted in accordance with Regulation S-K item 601(b)(11) although not required by APB Opinion No. 15 because it results in dilution of less than 3%.