Exhibit 11.1
DECKERS OUTDOOR CORPORATION
AND SUBSIDIARIES
Statement of Computation of Net Earnings per Common
and Common Equivalent Shares
YEAR ENDED
DECEMBER 31
-----------------------------------
1996 1995 1994
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Net earnings $3,656,000 1,436,000 10,506,000
LesLess: earnings attributed to
holders of stock options in a
subsidiary of the Company
(assuming exercise) -- 185,000 --
---------- --------- ----------
Net earnings available to common stockholders $3,656,000 1,251,000 10,506,000
========== ========= ==========
Weighted average common stock outstanding 9,248,000 9,324,000 9,630,000
Common stock equivalents - stock options 44,000 28,000 43,000
---------- --------- ----------
9,292,000 9,352,000 9,673,000
========== ========= ==========
Net earnings per share $ 0.39 0.13 1.09
========== ========= ==========