Exhibit 11:
OIL-DRI CORPORATION OF AMERICA AND SUBSIDIARIES
Computation of Earnings Per Share
(in thousands, except per share amounts)
For the Three Months Ended January 31, | For the Six Months Ended January 31, | ||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||
Net income available to stockholders | $ | (1,096 | ) | $ | 4,250 | $ | 1,954 | $ | 6,259 | ||||
Less: Distributed and undistributed earnings allocated to non-vested restricted stock | — | (100 | ) | (46 | ) | (145 | ) | ||||||
Earnings available to common shareholders | $ | (1,096 | ) | $ | 4,150 | $ | 1,908 | $ | 6,114 | ||||
Shares Calculation | |||||||||||||
Average shares outstanding - Basic Common | 5,035 | 5,019 | 5,030 | 5,011 | |||||||||
Average shares outstanding - Basic Class B Common | 2,104 | 2,088 | 2,097 | 2,077 | |||||||||
Potential Common Stock relating to stock options and non-vested restricted stock (1) | — | 48 | 88 | 57 | |||||||||
Average shares outstanding - Assuming dilution | 7,139 | 7,155 | 7,215 | 7,145 | |||||||||
Net Income Per Share: Basic Common | $ | (0.17 | ) | $ | 0.63 | $ | 0.29 | $ | 0.93 | ||||
Net Income Per Share: Basic Class B Common | $ | (0.12 | ) | $ | 0.47 | $ | 0.22 | $ | 0.70 | ||||
Net Income Per Share: Diluted Common | $ | (0.15 | ) | $ | 0.58 | $ | 0.26 | $ | 0.86 |
(1) In the table above, a total of 82,000 of potential common stock relating to non-vested restricted stock were excluded from the calculation of diluted net loss per share for the three months ended January 31, 2018 since their effects were anti-dilutive.
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