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 April 30, | For the Nine Months Ended April 30, | ||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||
Net (losses) income available to stockholders | $ | (2,109) | $ | 2,227 | $ | 478 | $ | 10,510 | |||||||||
Less: Distributed and undistributed earnings (losses) allocated to non-vested restricted stock | 67 | (99) | (54) | (495) | |||||||||||||
(Losses) Earnings available to common shareholders | $ | (2,042) | $ | 2,128 | $ | 424 | $ | 10,015 | |||||||||
Shares Calculation | |||||||||||||||||
Average shares outstanding - Basic Common | 4,932 | 5,133 | 5,042 | 5,144 | |||||||||||||
Average shares outstanding - Basic Class B Common | 1,939 | 1,925 | 1,933 | 1,928 | |||||||||||||
Potential Common Stock - Basic Common - relating to non-vested restricted stock1 | — | 109 | 111 | 112 | |||||||||||||
Potential Common Stock - Basic Class B Common - relating to non-vested restricted stock1 | — | 40 | 30 | 41 | |||||||||||||
Average shares outstanding - Assuming dilution | 6,871 | 7,207 | 7,116 | 7,225 | |||||||||||||
Net (Loss) Income Per Share: Basic Common | $ | (0.32) | $ | 0.32 | $ | 0.06 | $ | 1.52 | |||||||||
Net (Loss) Income Per Share: Basic Class B Common | $ | (0.24) | $ | 0.24 | $ | 0.05 | $ | 1.14 | |||||||||
Net (Loss) Income Per Share: Diluted Common | $ | (0.32) | $ | 0.32 | $ | 0.06 | $ | 1.49 | |||||||||
Net (Loss) Income Per Share: Diluted Class B Common | $ | (0.24) | $ | 0.24 | $ | 0.05 | $ | 1.11 | |||||||||
1 The effect of certain potential common stock equivalents were excluded from the computation of average diluted shares outstanding for the three months ended April 30, 2022 as inclusion would have been anti-dilutive. A summary of these average anti-dilutive potential common share equivalents is provided in the table below: |
For the Three Months Ended April 30, | ||||||||
2022 | ||||||||
Potential Common Stock - Basic Common - relating to non-vested restricted stock | 101 | |||||||
Potential Common Stock - Basic Class B Common - relating to non-vested restricted stock | 19 |
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