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                                                                    EXHIBIT 11.1

                           EDUCATIONAL MEDICAL, INC.

              COMPUTATION OF PRO-FORMA NET INCOME (LOSS) PER SHARE


<TABLE>
<CAPTION>
                                                                         YEAR ENDED MARCH 31,             
                                                             -------------------------------------------- 
                                                                 1995           1996            1997      
                                                             -------------  -------------  -------------- 
<S>                                                          <C>            <C>            <C>            
Primary:                                                                                                  
 Weighted average common stock and common stock                                                           
  equivalents outstanding during the period (1)                 2,371,115       2,462,040      4,695,468  
 Convertible Preferred Stock converted into Common                                                        
  Stock upon consummation of initial public                                                               
  offering(2)                                                           -       1,705,082        981,006  
 Exercise of common stock purchase warrants upon                                                          
  consummation of initial public offering(2)                            -         870,642        658,865  
 Effect of Common Stock equivalents issued subsequent                                                     
  to August 7, 1995 computed in accordance with the                                                          
  treasury stock method as required by the SEC(3)                 112,000         112,000        112,000  
                                                             ------------   -------------  -------------  
    TOTAL                                                       2,483,115       5,149,764      6,447,339  
                                                             ============   =============  =============  
Pro forma income (loss) before extraordinary item              $ (513,430)      $ 672,488     $2,612,329  
Extraordinary item, net of income taxes                                 -               -        308,683  
                                                             ------------   -------------  -------------  
Pro forma net income (loss)                                    $ (513,430)      $ 672,488     $2,303,646  
                                                             ============   =============  =============  
Per share of common stock:                                                                                
  Pro forma income (loss) before extraordinary item            $    (0.21)      $    0.13     $     0.41  
  Extraordinary item, net of income taxes                               -               -          (0.05) 
                                                             ------------   -------------  -------------  
  Pro forma net income (loss)                                  $    (0.21)      $    0.13     $     0.36  
                                                             ============   =============  =============  
Fully Diluted:                                                                                            
  Weighted average common stock and common stock                                                          
   equivalents outstanding during the period(1)                 2,371,115       2,524,715      4,695,468  
  Convertible Preferred Stock converted into Common                                                       
   Stock upon consummation of initial public                                                              
   offering(2)                                                          -       1,705,082        981,006  
  Exercise of common stock purchase warrants upon                                                         
   consummation of initial public offering(2)                           -       1,074,915        658,865  
  Effect of Common Stock equivalents issued subsequent                                                    
   to August 7, 1995 computed in accordance with the                                                         
   treasury stock method as required by the SEC(3)                112,000         112,000        112,000  
                                                             ------------   -------------  -------------  
    TOTAL                                                       2,483,115       5,416,712      6,447,339  
                                                             ============   =============  =============  
Pro forma income (loss) before extraordinary item              $ (513,430)      $ 672,488     $2,612,329  
Extraordinary item, net of income taxes                                 -               -        308,683  
                                                             ------------   -------------  -------------  
Pro forma net income (loss)                                    $ (513,430)      $ 672,488     $2,303,646  
                                                             ============   =============  =============  
Per share of common stock:                                                                                
  Pro forma income (loss) before extraordinary item            $    (0.21)      $    0.12     $     0.41  
  Extraordinary item, net of income taxes                               -               -          (0.05) 
                                                             ------------   -------------  -------------  
  Pro forma income (loss)                                      $    (0.21)      $    0.12           0.36  
                                                             ============   =============  =============  
</TABLE>




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                                                          EXHIBIT 11.1 continued

(1)  Weighted average common stock outstanding during fiscal 1995 excludes all
     common stock equivalents as such equivalents are antidilutive during the
     period.
(2)  Pro forma income (loss) per share reflects preferred stock automatically
     converted into Common Stock and warrants which were exercised upon
     consummation of the initial public offering as if such conversion and
     exercises had occurred at the beginning of fiscal 1995.  Subsequent to the
     Offering, such shares were included in weighted average common stock and
     common stock equivalents outstanding during the period.
(3)  Pursuant to Securities and Exchange Commission Staff Accounting Bulletin 
     No. 83, Common Stock equivalents issued at prices below the initial public 
     offering price per share ("cheap stock") during the twelve month period 
     immediately preceding the initial filing date of the Company's 
     Registration Statement for its initial public offering have been included 
     as outstanding for all periods presented prior to the initial public 
     offering.