Exhibit 11 | |||||
KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES | |||||
COMPUTATION OF EARNINGS PER SHARE | |||||
(Unaudited) | (Unaudited) | ||||
Three Months Ended | Three Months Ended | ||||
December 31, 2003 | December 31, 2002 | ||||
(Amounts in Thousands, Except per Share Data) | Class A | Class B | Total | Class A | Class B | Total | |
Basic Earnings Per Share: | |||||||
Dividends declared | $2,128 | $3,899 | $6,027 | $ 2,136 | $ 3,885 | $ 6,021 | |
Undistributed earnings (loss) | 208 | 369 | 577 | (3,851) | (6,779) | (10,630) | |
Net Income (Loss) | $2,336 | $4 ,268 | $6,604 | $(1,715) | $(2,894) | $(4,609) | |
Average Basic Shares Outstanding | 13,728 | 24,371 | 38,099 | 13,790 | 24,273 | 38,063 | |
Basic Earnings (Loss) Per Share | $0.17 | $0.18 | $(0.12) | $(0.12) | |||
Diluted Earnings Per Share: | |||||||
Dividends declared and assumed dividends on dilutive shares | $2,128 | $3,908 | $6,036 | $ 2,136 | $ 3,890 | $ 6,026 | |
Undistributed earnings (loss) | 204 | 364 | 568 | (3,850) | (6,785) | (10,635) | |
Net Income (Loss) | $2,332 | $4,272 | $6,604 | $(1,714) | $(2,895) | $(4,609) | |
Average Diluted Shares Outstanding | 13,728 | 24,423 | 38,151 | 13,790 | 24,302 | 38,092 | |
Diluted Earnings (Loss) Per Share | $0.17 | $0.17 | $(0.12) | $(0.12) | |||
Included in the diluted earnings per share computation are 52,000 and 29,000 average shares of Class B common stock representing the dilutive effect of stock options and contingently issuable performance share grants for the three months ended December 31, 2003 and 2002, respectively. Also included in the diluted earnings per share computation are $9,000 and $5,000 of Class B assumed dividends payable on those dilutive shares for the three months ended December 31, 2003 and 2002, respectively. A corresponding reduction of undistributed earnings has been allocated evenly over Class A and Class B shares. For the current year period, 1,067,000 out of 2,741,000 stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 3,029,000 stock options outstanding were antidilutive and were excluded from the dilutive calculation. |
(Unaudited) | (Unaudited) | ||||
Six Months Ended | Six Months Ended | ||||
December 31, 2003 | December 31, 2002 | ||||
(Amounts in Thousands, Except per Share Data) | Class A | Class B | Total | Class A | Class B | Total | |
Basic Earnings Per Share: | |||||||
Dividends declared | $4,256 | $7,798 | $12,054 | $ 4,276 | $7,765 | $12,041 | |
Undistributed earnings (loss) | (855) | (1,517) | (2,372) | (4,368) | (7,684) | (12,052) | |
Net Income (Loss) | $3,401 | $ 6,281 | $ 9,682 | $ (92) | $ 81 | $ (11) | |
Average Basic Shares Outstanding | 13,733 | 24,358 | 38,091 | 13,790 | 24,263 | 38,053 | |
Basic Earnings (Loss) Per Share | $0.25 | $0.26 | $(0.01) | $0.00 | |||
Diluted Earnings Per Share: | |||||||
Dividends declared and assumed dividends on dilutive shares | $4,256 | $7,808 | $12,064 | $ 4,276 | $7,772 | $12,048 | |
Undistributed earnings (loss) | (858) | (1,524) | (2,382) | (4,368) | (7,691) | (12,059) | |
Net Income (Loss) | $3,398 | $ 6,284 | $ 9,682 | $ (92) | $ 81 | $ (11) | |
Average Diluted Shares Outstanding | 13,733 | 24,392 | 38,125 | 13,790 | 24,286 | 38,076 | |
Diluted Earnings (Loss) Per Share | $0.25 | $0.26 | $(0.01) | $0.00 | |||
Included in the diluted earnings per share computation are 34,000 and 23,000 average shares of Class B common stock representing the dilutive effect of stock options and contingently issuable performance share grants for the six months ended December 31, 2003 and 2002, respectively. Also included in the diluted earnings per share computation are $10,000 and $7,000 of Class B assumed dividends payable on those dilutive shares for the six months ended December 31, 2003 and 2002, respectively. A corresponding reduction of undistributed earnings has been allocated evenly over Class A and Class B shares. For the current year period, 1,140,000 out of 2,832,000 stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 3,028,000 stock options outstanding were excluded from the dilutive calculation. |