Exhibit 11 SEACHANGE INTERNATIONAL, INC. Computation of Net Income Per Share (1) (Unaudited)
Three months ended March 31, ------------------------- 1996 1997 ------------- ----------- Weighted average common and common equivalent shares: Weighted average common shares outstanding during the period................................. 8,774,775 12,871,054 Weighted average common equivalent shares (2)..... 2,809,060 542,501 ------------- ------------- 11,583,835 13,413,555 ============= ============= Net income........................................ $ 719,100 $ 1,732,600 Primary net income per share...................... $ 0.06 $ 0.13
(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. (2) 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 quarter ended March 31, 1996 pursuant to Securities and Exchange Commission Staff Accounting Bulletin No. 83. 13