EXHIBIT 11.1 SONUS PHARMACEUTICALS, INC. COMPUTATION OF NET INCOME (LOSS) PER SHARE
THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ---------------------------- ---------------------------- BASIC EARNINGS PER SHARE: 1998 1997 1998 1997 ----------- ----------- ----------- ----------- Net income (loss)......................... $(3,098,138) $ 405,593 $(6,364,829) $ 1,761,780 Weighted average common shares............ 8,618,198 8,555,567 8,615,561 8,543,460 Basic earnings per share............... $ (0.36) $ 0.05 $ (0.74) $ 0.21 DILUTED EARNINGS PER SHARE: Net income (loss)......................... $(3,098,138) $ 405,593 $(6,364,829) $ 1,761,780 Weighted average common shares - basic.... 8,618,198 8,555,567 8,615,561 8,543,460 Dilutive potential common shares.......... -- 869,716 -- 916,764 ----------- ----------- ----------- ----------- Total.................................. 8,618,198 9,425,283 8,615,561 9,461,844 =========== =========== =========== =========== Diluted earnings per share............. $ (0.36) $ 0.04 $ (0.74) $ 0.19
12