RPM International (RPM) 10-Q 2007 Q3 Quarterly report

Exhibit 11.1

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

(Unaudited)

(In thousands, except per share amounts)

	Nine Months Ended				Three Months Ended
	February 28,				February 28,
	2007		2006		2007		2006
Shares Outstanding
For computation of basic earnings per share of common stock
Weighted average shares		117,817		116,710		118,430		116,881
Total shares for basic earnings per share		117,817		116,710		118,430		116,881
For computation of diluted earnings per share of common stock
Net issuable common share equivalents(1)		2,520		2,789		2,537
Additional shares issuable assuming conversion of convertible securities(1)		8,034		8,034		8,034
Total shares for diluted earnings per share		128,371		127,533		129,001		116,881
Net Income
Net income (loss) applicable to shares of common stock for basic earnings per share	$	124,334	$	65,801	$	10,052	$	(2,687	)
Add: Income effect of contingently issuable shares(1)		2,314		2,799		771
Net income (loss) applicable to shares of common stock for diluted earnings per share	$	126,648	$	68,600	$	10,823	$	(2,687	)
Basic Earnings (Loss) Per Share of Common Stock	$	1.06	$	0.56	$	0.08	$	(0.02	)
Diluted Earnings (Loss) Per Share of Common Stock	$	0.99	$	0.54	$	0.08	$	(0.02	)

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

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