EXHIBIT 11
                    WALSH INTERNATIONAL INC. AND SUBSIDIARIES
                 -----------------------------------------------
                 Computation of Earnings (Loss) Per Common Share

        Dollars in thousands, except per share amounts
<TABLE>
<CAPTION>
                                                              Three Months Ended                              Six Months Ended
                                                              ------------------                              ----------------
PRIMARY EARNINGS PER SHARE                          December 31,          December 31,          December 31,         December 31,
                                                    ------------          ------------          ------------         ------------
                                                         1996                  1995                1996                  1995
                                                         ----                  ----                ----                  ----
<S>                                                 <C>                <C>                   <C>                   <C>           
Weighted average common shares outstanding              10,486,848             5,810,351          10,482,041            5,809,121

Assumed exercise of certain stock options and
other common stock equivalents (1)                         161,391             1,614,176             168,989            1,775,729
                                                    -----------------  -------------------   ------------------    -----------------
                                                        10,648,239             7,424,527          10,651,030            7,584,850
                                                    =================  ===================   ==================    =================

Income from continuing operations                   $        1,123     $           1,404     $         1,925       $          971

Loss from discontinued operations, net                           -                  (958)                  -               (1,755)
                                                    -----------------  -------------------   ------------------    -----------------
Net Income (Loss)                                   $        1,123     $             446     $         1,925       $         (784)
                                                    =================  ===================   ==================    =================

Income per share from continuing operations         $         0.11     $            0.19     $          0.18       $         0.13

Loss per share from discontinued operations,
net                                                              -                 (0.13)                  -                (0.23)
                                                    -----------------  -------------------   ------------------    -----------------
Net Earnings (Loss) per share                       $         0.11     $            0.06     $          0.18       $        (0.10)
                                                    =================  ===================   ==================    =================

FULLY DILUTED EARNINGS PER SHARE

Weighted average common shares outstanding              10,486,848             5,810,351          10,482,041            5,809,121

Assumed exercise of certain stock options and
other common stock equivalents (1)                         162,786             1,614,176             174,201            1,775,729
                                                    -----------------  -------------------   ------------------    -----------------
                                                        10,649,633             7,424,527          10,656,241            7,584,850
                                                    =================  ===================   ==================    =================

Income from continuing operations                   $        1,123     $           1,404     $         1,925       $          971

Loss from discontinued operations, net                           -                  (958)                  -               (1,755)
                                                    -----------------  -------------------   ------------------    -----------------
Net Income (Loss)                                   $        1,123     $             446     $         1,925       $         (784)
                                                    =================  ===================   ==================    =================
Income per share from continuing operations         $         0.11     $            0.19     $          0.18       $         0.13

Loss per share from discontinued operations,
net                                                              -                 (0.13)                  -                (0.23)
                                                    -----------------  -------------------   ------------------   -----------------
Net Earnings (Loss) per Share                       $         0.11     $            0.06     $          0.18       $        (0.10)
                                                    =================  ===================   ==================    =================
</TABLE>


1)        The Common Stock  equivalents  consist of stock options,  warrants and
          the Series A Convertible  Preferred Stock.  Common  equivalent  shares
          from convertible  preferred stock (using the if- converted method) and
          stock options and warrants (using the treasury stock method) have been
          included in the computation  when dilutive  (except that,  pursuant to
          the Securities and Exchange Commission rules, the Series A Convertible
          Preferred  Stock which was  converted  into Common Stock in connection
          with the Company's initial public offering is included as if converted
          at  the  original  date  of  issuance  even  though  inclusion  may be
          anti-dilutive).  Pursuant to the  Securities  and Exchange  Commission
          Staff  Accounting  Bulletin  all common and common  equivalent  shares
          issued by the  Company at an exercise  price below the assumed  public
          offering  price during the  twelve-month  period prior to the offering
          have been included in the calculation as if they were  outstanding for
          the three and six months ended December 31, 1995,  (using the treasury
          stock  method  and the  initial  public  offering  price of $12.00 Per
          share).

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