Exhibit 11
SEACHANGE INTERNATIONAL, INC.
Computation of Net Income Per Share (1)
(Unaudited)
Three months ended Six months ended
June 30, June 30,
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1996 1997 1996 1997
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Weighted average common and
common equivalent shares:
Weighted average common
shares outstanding during
the period 10,358,752 12,896,942 10,354,090 12,883,997
Weighted average common
equivalent shares (2) 1,230,760 510,544 1,230,760 526,523
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11,589,512 13,407,486 11,584,850 13,410,520
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Net income $ 1,403,000 $ 2,405,000 $ 2,122,000 $ 4,138,000
Primary net income per share $ 0.12 $ 0.18 $ 0.18 $ 0.31
(1) Fully diluted net income per share has not been separately presented, as
the amounts would not be materially different from primary net income per
share.
(1) Common share equivalents issued subsequent to September 1995 which are
comprised of common stock options and Series B convertible preferred stock
have been included in the calculation for the three-month and six-month
periods ended June 30, 1996 pursuant to Securities and Exchange Commission
Staff Accounting Bulletin No. 83
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