Willcox & Gibbs Inc/DE – ‘10-Q’ for 6/30/97 – EX-1

As of:  Thursday, 8/14/97   ·   For:  6/30/97   ·   Accession #:  950155-97-73   ·   File #:  333-24507

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                      18     73K 
 2: EX-1        Exhibit 11.1                                           2±     9K 
 3: EX-27.1     Financial Data Schedule (Pre-XBRL)                     1      8K 

EX-1   —   Exhibit 11.1

                                                                    Exhibit 11.1

 Statement re: Computation of Per Share Earnings

The following table sets forth the computation of earnings per share for the six
and three  months  ended June 30,  1997 and 1996.  The  computation  of weighted
average  common shares and common share  equivalents on a fully diluted basis is
the same as on the primary  basis since the average and ending market price used
in the computation is the same.                                                 

                                                        [Enlarge/Download Table]

                                                 Six Months Ended                Three Months Ended      
                                                     June 30,                         June 30,           

                                                1997             1996           1997            1996     
                                          --------------   --------------  --------------  --------------
                                                                                                         
Net income (loss) before extraordinary                                                                   
item                                      $    (358,580)   $   1,009,782   $     144,382   $    694,123  

Extraordinary item, net                      (1,556,898)               -               -             -   
                                          --------------   --------------  --------------  --------------
Net income (loss)                         $  (1,915,478)   $   1,009,782   $     144,382   $     694,123 
                                          ==============   ==============  ==============  ==============

Weighted  average   outstanding   common                                                                 
  shares   (includes    100,000   shares                                                                 
  subject  to put  option  for  the  six                                                                 
  months ended June 30, 1997 and for the                                                                 
  three  months  ended June 30, 1997 and                                                                 
  1996 and 83,333 shares  subject to put                                                                 
  option for the six  months  ended June                                                                 
  30, 1996, respectively)                       964,865          890,094         976,055         939,625 

Increase  due  to  assumed  issuance  of                                                                 
  shares  related to  outstanding  stock                                                                 
  options   using  the  treasury   stock                                                                 
  method                                              -            1,575           6,083           1,575 

Increase  due  to  assumed  exercise  of                                                                 
  stock   warrants  using  the  treasury                                                                 
  stock method                                        -          142,261          36,940         147,758 
                                          --------------   --------------  --------------  --------------
Adjusted  weighted   average  number  of                                                                 
  common   shares   and   common   share                                                                 
  equivalents                                   964,865        1,033,930       1,019,078       1,088,958 
                                          ==============   ==============  ==============  ==============
Earnings  (loss)  per  common  share and                                                                 
  common share equivalent:                                                                               

Net income (loss)  before  extraordinary                                                                 
  item                                                                                                   

                                          $       (0.37)   $        0.98   $        0.14   $        0.64 

Extraordinary item, net                           (1.62)               -               -               - 
                                          --------------   --------------  --------------  --------------
Net income (loss)                         $       (1.99)   $         0.98  $        0.14   $        0.64 
                                          ==============   ==============  ==============  ==============

Dates Referenced Herein

This ‘10-Q’ Filing		Date		Other Filings
		8/19/97		None on these Dates
Filed on:		8/14/97
For Period End:		6/30/97
		6/30/96
				List all Filings