EXHIBIT 11 SEACHANGE INTERNATIONAL, INC. COMPUTATION OF NET INCOME PER SHARE (1) (UNAUDITED)
Three months ended Nine months ended September 30, September 30, -------------------------------------- --------------------------------------- 1996 1997 1996 1997 --------------- ------------------ ---------------- ------------------ WEIGHTED AVERAGE COMMON AND COMMON EQUIVALENT SHARES: Weighted average common shares outstanding during the period 10,359,690 12,897,606 10,357,173 12,888,534 Weighted average common equivalent shares (2) 1,230,760 447,257 1,230,760 500,100 --------------- ------------------ ---------------- ------------------ 11,590,450 13,344,863 11,587,933 13,388,634 =============== ================== ================ ================== Net income $ 1,425,988 $ 102,310 $ 3,548,042 $ 4,239,886 Primary net income per share $ 0.12 $ 0.01 $ 0.31 $ 0.32
(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 three-month and nine-month periods ended September 30, 1996 pursuant to Securities and Exchange Commission Staff Accounting Bulletin No. 83.