RPM International (RPM) 10-Q 2006 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 28,
	2006		2005		2006			2005
Shares Outstanding
For computation of basic earnings per share of common stock
Weighted average shares		116,710		116,700		116,881			117,284
Total shares for basic earnings per share		116,710		116,700		116,881			117,284
For computation of diluted earnings per share of common stock
Net issuable common share equivalents(1)		2,789		1,472
Additional shares issuable assuming conversion of convertible securities(1)		8,034		8,034
Total shares for diluted earnings per share		127,533		126,206		116,881			117,284
Net Income
Net income (loss) applicable to shares of common stock for basic earnings per share	$	65,801	$	58,826	$	(2,687	)	$	(4,772	)
Add: Income effect of contingently issuable shares		2,799		2,380
Net income (loss) applicable to shares of common stock for diluted earnings per share	$	68,600	$	61,206	$	(2,687	)	$	(4,772	)
Basic Earnings (Loss) Per Share	$	0.56	$	0.50	$	(0.02	)	$	(0.04	)
Diluted Earnings (Loss) Per Share	$	0.54	$	0.48	$	(0.02	)	$	(0.04	)

⁽¹⁾ Conversion of the net issuable common share equivalents and the shares related to convertible securities for the three-month periods ended February 28, 2006 and 2005 were not assumed, since the results would have been antidilutive.

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