RPM International (RPM) 10-Q 2005 Q3 Quarterly report

RPM INTERNATIONAL INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS
PER SHARE AND SHARE EQUIVALENTS
(Unaudited)

Exhibit 11.1

(In thousands, except per share amounts)

	Nine Months Ended				Three Months Ended
	February 28,		February 29,		February 28,			February 29,
	2005		2004		2005			2004
Shares Outstanding
For computation of basic earnings per share of common stock
Weighted average shares		116,700		115,687		117,284			115,835
Total shares for basic earnings per share		116,700		115,687		117,284			115,835
For computation of diluted earnings per share of common stock
Net issuable common share equivalents		1,472		906		1,868			1,516
Additional shares issuable assuming conversion of convertible securities(1)		8,034		8,034					8,034
Total shares for diluted earnings per share		126,206		124,627		119,152			125,385
Net Income
Net income (loss) applicable to shares of common stock for basic earnings per share	$	58,826	$	88,913	$	(4,772	)	$	6,018
Add: Income effect of contingently issuable shares(1)		2,380		2,315					772
Net income (loss) applicable to shares of common stock for diluted earnings per share	$	61,206	$	91,228	$	(4,772	)	$	6,790
Basic Earnings Per Share	$	0.50	$	0.77	$	(0.04	)	$	0.05
Diluted Earnings Per Share	$	0.48	$	0.73	$	(0.04	)	$	0.05

⁽¹⁾Conversion of the 8,034,355 shares related to convertible securities for the three-month period ended February 28, 2005 was not assumed, since the result would have been antidilutive.

The accompanying notes to consolidated financial statements are an integral part of these statements.