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.