Oil-Dri Corporation of America (ODC) 10-Q 2012 Q2 Quarterly report

Exhibit 11:

OIL-DRI CORPORATION OF AMERICA AND SUBSIDIARIES

Computation of Earnings Per Share

(in thousands except for per share amounts)

	For the Three Months Ended January 31,						For the Six Months Ended January 31,
	2012			2011			2012			2011
Net income available to stockholders	$	3,239		$	1,777		$	4,314		$	4,296
Less: Distributed and undistributed earnings allocated to nonvested stock	(44		)	(29		)	(62		)	(50		)
Earnings available to common shareholders	$	3,195		$	1,748		$	4,252		$	4,246
Shares Calculation
Average shares outstanding - Basic Common	5,124			5,079			5,119			5,082
Average shares outstanding - Basic Class B Common	1,938			1,908			1,929			1,902
Potential Common Stock relating to stock options	66			110			66			128
Average shares outstanding - Assuming dilution	7,128			7,097			7,114			7,112
Net Income Per Share: Basic Common	$	0.49		$	0.27		$	0.65		$	0.65
Net Income Per Share: Basic Class B Common	$	0.36		$	0.20		$	0.49		$	0.49
Net Income Per Share: Diluted	$	0.45		$	0.25		$	0.60		$	0.60

1